Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Akre Capital Management LLC

Akre Capital Management LLC reduced its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,455,966 shares of the financial services provider’s stock after selling 7,906 shares during the quarter. Brookfield Asset Management comprises approximately 1.2% of Akre Capital Management LLC’s portfolio, making the stock its 12th largest holding. Akre Capital Management LLC owned about 0.84% of Brookfield Asset Management worth $138,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. increased its stake in Brookfield Asset Management by 3.2% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 17,372 shares of the financial services provider’s stock valued at $579,000 after purchasing an additional 545 shares during the period. C WorldWide Group Holding A S purchased a new position in shares of Brookfield Asset Management during the 3rd quarter worth approximately $1,390,000. America First Investment Advisors LLC increased its position in Brookfield Asset Management by 107.3% during the third quarter. America First Investment Advisors LLC now owns 338,692 shares of the financial services provider’s stock worth $11,292,000 after buying an additional 175,316 shares in the last quarter. Corient Private Wealth LLC raised its holdings in shares of Brookfield Asset Management by 4.8% in the third quarter. Corient Private Wealth LLC now owns 1,014,180 shares of the financial services provider’s stock worth $33,813,000 after acquiring an additional 46,138 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of Brookfield Asset Management by 106.4% in the third quarter. Signaturefd LLC now owns 1,482 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 764 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on BAM shares. JPMorgan Chase & Co. assumed coverage on Brookfield Asset Management in a research note on Wednesday, May 15th. They issued a “neutral” rating and a $41.00 price target on the stock. HSBC downgraded shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Royal Bank of Canada lifted their price target on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, April 29th. Scotiabank decreased their price objective on shares of Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating for the company in a research note on Thursday, May 9th. Finally, CIBC raised their price objective on shares of Brookfield Asset Management from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.14.

Brookfield Asset Management Trading Up 0.2 %

Shares of NYSE BAM traded up $0.08 during midday trading on Monday, reaching $40.49. The company’s stock had a trading volume of 831,338 shares, compared to its average volume of 1,492,185. The company has a 50 day moving average price of $40.34 and a 200 day moving average price of $38.78. Brookfield Asset Management Ltd. has a one year low of $28.35 and a one year high of $43.00. The company has a market cap of $17.90 billion, a price-to-earnings ratio of 37.48, a price-to-earnings-growth ratio of 1.83 and a beta of 1.72.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be issued a $0.38 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.75%. Brookfield Asset Management’s payout ratio is currently 140.74%.

About Brookfield Asset Management

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.