Brookfield Asset Management Ltd. (NYSE:BAM) Shares Acquired by First Hawaiian Bank

First Hawaiian Bank lifted its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 127.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,558 shares of the financial services provider’s stock after purchasing an additional 14,889 shares during the period. First Hawaiian Bank’s holdings in Brookfield Asset Management were worth $1,116,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Confluence Investment Management LLC acquired a new stake in shares of Brookfield Asset Management during the first quarter worth about $783,000. PNC Financial Services Group Inc. grew its holdings in shares of Brookfield Asset Management by 4.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 61,925 shares of the financial services provider’s stock worth $2,488,000 after buying an additional 2,882 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Brookfield Asset Management by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 10,573,649 shares of the financial services provider’s stock worth $424,743,000 after buying an additional 170,764 shares during the last quarter. Royal London Asset Management Ltd. grew its holdings in shares of Brookfield Asset Management by 1.6% during the fourth quarter. Royal London Asset Management Ltd. now owns 161,565 shares of the financial services provider’s stock worth $6,490,000 after buying an additional 2,621 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Brookfield Asset Management during the fourth quarter worth about $392,000. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Trading Down 0.4 %

Shares of BAM opened at $37.98 on Thursday. Brookfield Asset Management Ltd. has a twelve month low of $28.35 and a twelve month high of $43.00. The stock’s 50 day moving average is $39.16 and its two-hundred day moving average is $39.71. The firm has a market capitalization of $16.80 billion, a PE ratio of 35.17, a P/E/G ratio of 1.71 and a beta of 1.67.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. Brookfield Asset Management had a net margin of 49.36% and a return on equity of 98.98%. The company had revenue of $884.00 million during the quarter. On average, sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.47 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be given a dividend of $0.38 per share. The ex-dividend date is Friday, May 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.00%. Brookfield Asset Management’s payout ratio is 140.74%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BAM shares. Royal Bank of Canada raised their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. JPMorgan Chase & Co. started coverage on Brookfield Asset Management in a report on Wednesday, May 15th. They set a “neutral” rating and a $41.00 price target on the stock. Finally, Scotiabank lowered their price objective on Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating on the stock in a report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.14.

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.