Aviva PLC, a leading financial services provider, recently made headlines by trimming its position in shares of Brookfield Asset Management Ltd. by an astounding 71.1% during the fourth quarter of last year, selling 345,185 shares during the period. According to the company’s latest 13F filing with the SEC, Aviva PLC’s remaining holdings in Brookfield Asset Management were valued at over $4 million.
This news comes on the heels of Director Multi-Strategy Mast Brookfield selling off more than 24,000 shares of the business’s stock in a transaction that took place on March 28th. The shares were sold at an average price of $11.96 per share for a total transaction value of nearly $296,000. Following the sale, Mast Brookfield still holds over 21 million shares in the company with an estimated value exceeding $252 million.
Brookfield Asset Management Ltd., which trades on both the NYSE and TSE under symbols BAM and BAM.A respectively, opened at $31.61 per share on Thursday and has seen a wide range in its stock price over the past year with a low of $26.76 and high of $36.50.
Overall, recent trading activity surrounding Brookfield Asset Management has given financial analysts much to consider and debate as they keep a close eye on market trends within this dynamic industry sector. As always, investors are advised to exercise caution and seek appropriate counsel before making any major moves regarding their own investment portfolios.
Hedge Funds Remain Bullish on Brookfield Asset Management Despite Market Fluctuations
Brookfield Asset Management Continues to Attract Hedge Funds
Brookfield Asset Management has recently been attracting the attention of several hedge funds, as indicated by their purchases and sales of shares in the company. Nisa Investment Advisors LLC, Ronald Blue Trust Inc., BNP Paribas Arbitrage SA, RE Dickinson Investment Advisors LLC and EverSource Wealth Advisors LLC have all either increased or opened positions in Brookfield. These actions suggest that many investors are still optimistic about this financial services provider’s future growth potential.
Several research analysts have also opined on the stock and issued ratings for it. Royal Bank of Canada restated its “outperform” rating with a $40 price target, while Keefe, Bruyette & Woods downgraded the stock to “underperform.” StockNews.com rated the shares a “hold,” and JPMorgan Chase & Co. raised its price target to $39.
Furthermore, Brookfield recently announced a quarterly dividend, which will be paid on June 30th to investors who were registered on May 31st. The dividend will be $0.32 per share, providing an annualized yield of 4.05%.
All these recent developments show that despite some mixed reviews from analysts and market fluctuations due to COVID-19 concerns, Brookfield Asset Management is still regarded as a promising investment by many hedge funds and other investors alike. Only time will tell if this bullish sentiment continues to prevail over the long term or if events like global pandemics could put such assumptions into question.