Zurcher Kantonalbank Zurich Cantonalbank Has $7.38 Million Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 8.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 136,207 shares of the financial services provider’s stock after selling 11,795 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Brookfield Asset Management were worth $7,383,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in Brookfield Asset Management by 11.6% during the third quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock worth $77,293,000 after acquiring an additional 168,170 shares in the last quarter. Laffer Tengler Investments Inc. lifted its position in shares of Brookfield Asset Management by 24.2% in the fourth quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider’s stock valued at $8,008,000 after buying an additional 28,768 shares during the last quarter. Avior Wealth Management LLC increased its holdings in shares of Brookfield Asset Management by 2,857.1% in the third quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock valued at $489,000 after purchasing an additional 10,000 shares during the last quarter. Plato Investment Management Ltd increased its stake in shares of Brookfield Asset Management by 173.7% during the fourth quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider’s stock worth $564,000 after purchasing an additional 6,580 shares during the period. Finally, Tacita Capital Inc raised its stake in Brookfield Asset Management by 19.3% in the 4th quarter. Tacita Capital Inc now owns 47,767 shares of the financial services provider’s stock worth $2,585,000 after purchasing an additional 7,743 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

BAM has been the subject of several research analyst reports. StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. UBS Group began coverage on Brookfield Asset Management in a report on Monday, December 16th. They set a “buy” rating on the stock. Scotiabank lowered their price objective on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a research report on Thursday, February 13th. BMO Capital Markets boosted their price target on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research note on Monday, January 13th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Brookfield Asset Management currently has a consensus rating of “Hold” and a consensus price target of $56.71.

Brookfield Asset Management Stock Down 3.9 %

Shares of NYSE:BAM opened at $45.65 on Friday. The stock’s 50 day moving average is $55.88 and its 200-day moving average is $52.88. Brookfield Asset Management Ltd. has a twelve month low of $37.29 and a twelve month high of $62.61. The firm has a market capitalization of $20.23 billion, a price-to-earnings ratio of 34.58, a PEG ratio of 1.92 and a beta of 1.50.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. Equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be issued a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 132.58%.

Brookfield Asset Management 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.