Brookfield Asset Management Ltd. (NYSE:BAM) Stock Position Lowered by Chemistry Wealth Management LLC

Chemistry Wealth Management LLC decreased its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 18,587 shares of the financial services provider’s stock after selling 1,059 shares during the quarter. Chemistry Wealth Management LLC’s holdings in Brookfield Asset Management were worth $1,007,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BAM. Hara Capital LLC purchased a new stake in Brookfield Asset Management in the 3rd quarter worth approximately $27,000. RPg Family Wealth Advisory LLC purchased a new stake in Brookfield Asset Management in the 3rd quarter worth approximately $27,000. Richardson Financial Services Inc. lifted its position in Brookfield Asset Management by 368.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock worth $37,000 after buying an additional 755 shares in the last quarter. Versant Capital Management Inc lifted its position in Brookfield Asset Management by 1,606.3% in the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock worth $44,000 after buying an additional 771 shares in the last quarter. Finally, Continuum Advisory LLC lifted its position in Brookfield Asset Management by 42.2% in the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock worth $52,000 after buying an additional 329 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 0.9 %

NYSE:BAM opened at $55.56 on Friday. Brookfield Asset Management Ltd. has a 1 year low of $37.29 and a 1 year high of $59.58. The firm’s fifty day simple moving average is $55.83 and its 200 day simple moving average is $48.47. The firm has a market capitalization of $24.62 billion, a PE ratio of 49.17, a PEG ratio of 1.75 and a beta of 1.45.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the business posted $0.35 EPS. As a group, analysts anticipate that Brookfield Asset Management Ltd. will post 1.45 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were given a $0.38 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.52 annualized dividend and a yield of 2.74%. Brookfield Asset Management’s dividend payout ratio is 134.51%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods cut their target price on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research report on Monday, January 13th. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. UBS Group began coverage on shares of Brookfield Asset Management in a report on Monday, December 16th. They set a “buy” rating on the stock. The Goldman Sachs Group raised their price target on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, TD Securities raised their price target on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Brookfield Asset Management has a consensus rating of “Hold” and an average price target of $54.38.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.