Envestnet Asset Management Inc. Sells 21,778 Shares of Brookfield Asset Management Ltd. $BAM

Core Insights - Brookfield Asset Management has seen significant increases in institutional ownership, with notable percentage increases from various investors in the third quarter [1] - Analysts have mixed ratings on Brookfield Asset Management, with a consensus target price of $63.94 and an average rating of "Hold" [2] - The company's stock performance shows a market cap of $86.21 billion and a price-to-earnings ratio of 34.63 [3] - Recent earnings results indicate an EPS of $0.47, surpassing expectations, with revenue slightly below estimates at $1.39 billion [4] - A quarterly dividend increase to $0.5025 per share has been announced, reflecting a dividend yield of 3.8% [5] Institutional Ownership - New York State Common Retirement Fund increased its position by 18.5%, owning 465,600 shares valued at $26.51 million after acquiring 72,600 shares [1] - Intact Investment Management Inc. raised its stake by 127.5%, now holding 590,560 shares worth $33.61 million after an additional purchase of 330,970 shares [1] - Nicola Wealth Management LTD. grew its position by 115.4%, owning 216,558 shares valued at $12.33 million after acquiring 116,000 shares [1] - Legal & General Group Plc increased its stake by 144.5%, now owning 80,632 shares valued at $4.46 million after acquiring 47,659 shares [1] - SG Americas Securities LLC purchased a new stake valued at approximately $2.75 million [1] - Institutional investors currently own 68.41% of the stock [1] Analyst Ratings - JPMorgan Chase & Co. raised the price target from $68.00 to $72.00, maintaining a "neutral" rating [2] - Wall Street Zen upgraded the stock from "sell" to "hold" [2] - Keefe, Bruyette & Woods lowered their target price from $62.00 to $59.00, rating it "underperform" [2] - Goldman Sachs reduced their target from $67.00 to $60.00, maintaining a "buy" rating [2] - National Bank Financial decreased their target from $71.00 to $69.00, rating it "outperform" [2] - The overall ratings include one "Strong Buy," seven "Buy," seven "Hold," and two "Sell" ratings [2] Stock Performance - The stock opened at $52.64, with a 52-week low of $41.78 and a high of $64.10 [3] - The 50-day simple moving average is $52.37, and the 200-day simple moving average is $55.26 [3] - The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.97, and a current ratio of 0.97 [3] Earnings Results - The company reported an EPS of $0.47, beating the consensus estimate of $0.41 by $0.06 [4] - Revenue for the quarter was $1.39 billion, slightly below the expected $1.40 billion [4] - The return on equity was reported at 29.67%, with a net margin of 51.59% [4] - Analysts expect an EPS of 1.7 for the current fiscal year [4] Dividend Announcement - A quarterly dividend of $0.5025 per share will be paid on March 31st, up from the previous $0.44 [5] - This represents an annualized dividend of $2.01 and a dividend yield of 3.8% [5] - The current dividend payout ratio is 115.13% [5]