GoodHaven Capital Management LLC Sells 821 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

GoodHaven Capital Management LLC cut its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,909 shares of the financial services provider’s stock after selling 821 shares during the quarter. Brookfield Asset Management comprises about 0.2% of GoodHaven Capital Management LLC’s holdings, making the stock its 22nd largest position. GoodHaven Capital Management LLC’s holdings in Brookfield Asset Management were worth $722,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. RE Dickinson Investment Advisors LLC boosted its holdings in Brookfield Asset Management by 3.2% in the 4th quarter. RE Dickinson Investment Advisors LLC now owns 6,962 shares of the financial services provider’s stock worth $377,000 after buying an additional 215 shares during the period. Gold Investment Management Ltd. lifted its position in shares of Brookfield Asset Management by 0.5% during the fourth quarter. Gold Investment Management Ltd. now owns 41,889 shares of the financial services provider’s stock worth $2,271,000 after acquiring an additional 219 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Brookfield Asset Management by 61.0% in the fourth quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 325 shares during the period. Lindbrook Capital LLC grew its position in shares of Brookfield Asset Management by 20.5% in the fourth quarter. Lindbrook Capital LLC now owns 2,174 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 370 shares in the last quarter. Finally, Truvestments Capital LLC grew its position in shares of Brookfield Asset Management by 487.2% in the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 419 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on BAM shares. Morgan Stanley raised their target price on Brookfield Asset Management from $50.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Friday, May 16th. HSBC upgraded shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Wells Fargo & Company boosted their price objective on shares of Brookfield Asset Management from $54.00 to $55.00 and gave the company an “underweight” rating in a research note on Friday, May 23rd. BMO Capital Markets increased their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research note on Thursday, February 13th. Finally, TD Securities raised their price target on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management has a consensus rating of “Moderate Buy” and a consensus price target of $59.15.

Brookfield Asset Management Price Performance

NYSE:BAM opened at $57.55 on Monday. The company has a market capitalization of $92.80 billion, a price-to-earnings ratio of 43.60, a PEG ratio of 1.92 and a beta of 1.51. The business has a 50 day moving average of $53.01 and a 200 day moving average of $54.38. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, hitting the consensus estimate of $0.40. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.29 billion. As a group, sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be paid a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Asset Management’s dividend payout ratio is presently 124.11%.

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.