Montrusco Bolton Investments Inc. Cuts Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Montrusco Bolton Investments Inc. cut its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAMGet Rating) (TSE:BAM.A) by 1.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 939,606 shares of the financial services provider’s stock after selling 13,640 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in Brookfield Asset Management were worth $38,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Bank of Montreal Can raised its holdings in Brookfield Asset Management by 0.3% during the 2nd quarter. Bank of Montreal Can now owns 50,709,019 shares of the financial services provider’s stock valued at $2,289,290,000 after acquiring an additional 128,037 shares during the period. Principal Financial Group Inc. increased its position in shares of Brookfield Asset Management by 5.6% during the second quarter. Principal Financial Group Inc. now owns 45,883,416 shares of the financial services provider’s stock valued at $2,039,978,000 after buying an additional 2,452,878 shares during the period. Vanguard Group Inc. boosted its position in shares of Brookfield Asset Management by 2.8% in the first quarter. Vanguard Group Inc. now owns 44,050,716 shares of the financial services provider’s stock valued at $2,491,950,000 after acquiring an additional 1,220,298 shares during the period. FMR LLC increased its holdings in Brookfield Asset Management by 23.4% during the 2nd quarter. FMR LLC now owns 22,743,081 shares of the financial services provider’s stock worth $1,011,608,000 after acquiring an additional 4,315,285 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Brookfield Asset Management by 1.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 18,991,648 shares of the financial services provider’s stock worth $780,582,000 after purchasing an additional 285,949 shares in the last quarter.

Insiders Place Their Bets

In related news, insider Brookfield Asset Management In sold 2,135,176 shares of the firm’s stock in a transaction on Wednesday, November 30th. The shares were sold at an average price of $24.09, for a total transaction of $51,436,389.84. Following the completion of the transaction, the insider now directly owns 13,281,712 shares of the company’s stock, valued at $319,956,442.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Brookfield Asset Management news, insider Brookfield Asset Management In sold 2,135,176 shares of the firm’s stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $24.09, for a total value of $51,436,389.84. Following the completion of the sale, the insider now owns 13,281,712 shares of the company’s stock, valued at $319,956,442.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Oaktree Capital Management Lp sold 1,000,000 shares of the company’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $9.60, for a total value of $9,600,000.00. Following the completion of the transaction, the insider now directly owns 6,797,000 shares in the company, valued at approximately $65,251,200. The disclosure for this sale can be found here.

Brookfield Asset Management Stock Performance

Brookfield Asset Management stock traded down $0.50 during mid-day trading on Wednesday, reaching $31.70. The stock had a trading volume of 178,213 shares, compared to its average volume of 1,234,457. Brookfield Asset Management Ltd. has a one year low of $26.76 and a one year high of $36.50. The company has a 50-day moving average price of $35.32 and a two-hundred day moving average price of $42.00.

Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) last released its quarterly earnings data on Thursday, November 10th. The financial services provider reported $0.24 EPS for the quarter. The business had revenue of $23.42 billion for the quarter. Sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.18 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Wednesday, November 30th were given a dividend of $0.14 per share. The ex-dividend date was Tuesday, November 29th. This represents a $0.56 annualized dividend and a yield of 1.77%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Royal Bank of Canada began coverage on Brookfield Asset Management in a research report on Wednesday, December 21st. They set an “outperform” rating and a $35.00 target price for the company. The Goldman Sachs Group assumed coverage on Brookfield Asset Management in a research note on Tuesday, December 13th. They set a “buy” rating and a $40.00 price objective on the stock. BMO Capital Markets initiated coverage on Brookfield Asset Management in a report on Tuesday, December 13th. They set a “market perform” rating and a $32.00 target price for the company. StockNews.com initiated coverage on shares of Brookfield Asset Management in a report on Saturday. They issued a “sell” rating on the stock. Finally, TheStreet lowered shares of Brookfield Asset Management from a “b-” rating to a “c” rating in a report on Monday, November 28th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Brookfield Asset Management has an average rating of “Moderate Buy” and a consensus target price of $48.11.

Brookfield Asset Management Company Profile

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Brookfield Asset Management Ltd. provides alternative asset management services. Its renewable power and transition business includes the ownership, operation, and development of hydroelectric, wind, solar, and energy transition power generating assets. The company's infrastructure business engages in the ownership, operation, and development of utilities, transport, midstream, data and sustainable resource assets.

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Institutional Ownership by Quarter for Brookfield Asset Management (NYSE:BAM)

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