Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM – Get Rating) (TSE:BAM.A) by 69.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,416 shares of the financial services provider’s stock after selling 250,347 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Brookfield Asset Management were worth $3,217,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Hi Line Capital Management LLC acquired a new position in Brookfield Asset Management in the 4th quarter worth $1,151,000. Canal Capital Management LLC lifted its holdings in Brookfield Asset Management by 1,009.8% in the 4th quarter. Canal Capital Management LLC now owns 82,244 shares of the financial services provider’s stock worth $2,358,000 after buying an additional 74,833 shares in the last quarter. RE Dickinson Investment Advisors LLC acquired a new position in Brookfield Asset Management in the 4th quarter worth $48,000. BDO Wealth Advisors LLC lifted its holdings in Brookfield Asset Management by 50.0% in the 4th quarter. BDO Wealth Advisors LLC now owns 3,750 shares of the financial services provider’s stock worth $108,000 after buying an additional 1,250 shares in the last quarter. Finally, Jackson Hill Advisors LLC increased its position in shares of Brookfield Asset Management by 21.8% in the 4th quarter. Jackson Hill Advisors LLC now owns 385,000 shares of the financial services provider’s stock worth $12,112,000 after purchasing an additional 69,000 shares during the last quarter.
Brookfield Asset Management Stock Down 0.3 %
Shares of NYSE:BAM opened at $32.64 on Friday. Brookfield Asset Management Ltd. has a fifty-two week low of $26.76 and a fifty-two week high of $36.50. The firm has a 50-day simple moving average of $32.79 and a 200 day simple moving average of $35.39.
Brookfield Asset Management Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Tuesday, February 28th were given a $0.32 dividend. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.14. The ex-dividend date was Monday, February 27th. This represents a $1.28 annualized dividend and a yield of 3.92%.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on BAM shares. JPMorgan Chase & Co. boosted their target price on shares of Brookfield Asset Management from $35.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, February 9th. StockNews.com started coverage on shares of Brookfield Asset Management in a research report on Thursday, March 16th. They issued a “hold” rating for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 target price on shares of Brookfield Asset Management in a research report on Tuesday, March 28th. Finally, Keefe, Bruyette & Woods downgraded shares of Brookfield Asset Management to an “underperform” rating in a research report on Tuesday, April 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.06.
Insiders Place Their Bets
In other Brookfield Asset Management news, Director Multi-Strategy Mast Brookfield sold 24,744 shares of the company’s stock in a transaction dated Tuesday, March 28th. The shares were sold at an average price of $11.96, for a total value of $295,938.24. Following the completion of the transaction, the director now owns 21,104,923 shares in the company, valued at approximately $252,414,879.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 11.00% of the stock is owned by insiders.
Brookfield Asset Management Profile
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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