Sandy Spring Bank Has $1.14 Million Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Sandy Spring Bank cut its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 7.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,108 shares of the financial services provider’s stock after selling 1,690 shares during the period. Sandy Spring Bank’s holdings in Brookfield Asset Management were worth $1,144,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. RPg Family Wealth Advisory LLC acquired a new stake in Brookfield Asset Management during the 3rd quarter valued at $27,000. Truvestments Capital LLC increased its holdings in 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 purchasing an additional 419 shares in the last quarter. Versant Capital Management Inc increased its holdings in Brookfield Asset Management by 1,606.3% during the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 771 shares in the last quarter. Continuum Advisory LLC increased its holdings in Brookfield Asset Management by 42.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 329 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in Brookfield Asset Management by 35.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 319 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BAM shares. Scotiabank dropped their price target on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a report on Thursday, February 13th. UBS Group started coverage on Brookfield Asset Management in a report on Monday, December 16th. They set a “buy” rating for the company. Hsbc Global Res raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. Wells Fargo & Company decreased their price objective on Brookfield Asset Management from $54.00 to $50.00 and set an “underweight” rating on the stock in a research report on Thursday. Finally, HSBC upgraded Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.38.

Brookfield Asset Management Stock Down 0.7 %

NYSE:BAM opened at $49.35 on Friday. Brookfield Asset Management Ltd. has a 12-month low of $37.29 and a 12-month high of $62.61. The firm has a market capitalization of $21.87 billion, a P/E ratio of 37.38, a P/E/G ratio of 1.92 and a beta of 1.50. The stock’s fifty day simple moving average is $55.23 and its 200-day simple moving average is $53.13.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. As a group, equities research analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 132.58%.

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.