Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Chemistry Wealth Management LLC

Chemistry Wealth Management LLC lessened its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.1% during the 1st quarter, HoldingsChannel reports. The firm owned 17,630 shares of the financial services provider’s stock after selling 957 shares during the period. Chemistry Wealth Management LLC’s holdings in Brookfield Asset Management were worth $854,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ST Germain D J Co. Inc. acquired a new stake in Brookfield Asset Management during the 1st quarter worth $26,000. Truvestments Capital LLC boosted its position in shares of Brookfield Asset Management by 487.2% during the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 419 shares during the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in shares of Brookfield Asset Management during the 4th quarter valued at about $32,000. NewEdge Advisors LLC boosted its position in shares of Brookfield Asset Management by 61.0% during the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 325 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Brookfield Asset Management during the 4th quarter valued at about $54,000. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 1.7%

Shares of BAM opened at $57.55 on Friday. The firm has a market cap of $92.80 billion, a P/E ratio of 43.60, a price-to-earnings-growth ratio of 1.92 and a beta of 1.51. The company’s 50-day moving average price is $53.01 and its 200 day moving average price is $54.39. Brookfield Asset Management Ltd. has a 12-month low of $37.29 and a 12-month high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.40. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. Equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share 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 dividend of $0.4375 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.75 dividend on an annualized basis and a yield of 3.04%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 124.11%.

Analyst Ratings Changes

BAM has been the topic of several recent research reports. Hsbc Global Res raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. boosted their price target on shares of Brookfield Asset Management from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Morgan Stanley boosted their price target on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the company an “equal weight” rating in a research report on Friday, May 16th. Wells Fargo & Company boosted their price target on shares of Brookfield Asset Management from $54.00 to $55.00 and gave the company an “underweight” rating in a research report on Friday, May 23rd. Finally, Jefferies Financial Group lowered their price target on shares of Brookfield Asset Management from $52.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $59.15.

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.