Brookfield Asset Management Ltd. (NYSE:BAM) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. raised its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,573,649 shares of the financial services provider’s stock after buying an additional 170,764 shares during the quarter. Vanguard Group Inc. owned about 2.71% of Brookfield Asset Management worth $424,743,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Royal London Asset Management Ltd. increased its stake in Brookfield Asset Management by 1.6% in the 4th quarter. Royal London Asset Management Ltd. now owns 161,565 shares of the financial services provider’s stock valued at $6,490,000 after buying an additional 2,621 shares during the period. Virtu Financial LLC purchased a new stake in shares of Brookfield Asset Management during the 4th quarter worth $392,000. FIL Ltd boosted its position in shares of Brookfield Asset Management by 66.1% during the 4th quarter. FIL Ltd now owns 11,314,071 shares of the financial services provider’s stock worth $454,424,000 after purchasing an additional 4,501,410 shares in the last quarter. Partners Value Investments L.P. boosted its position in shares of Brookfield Asset Management by 0.9% during the 4th quarter. Partners Value Investments L.P. now owns 30,807,960 shares of the financial services provider’s stock worth $1,237,556,000 after purchasing an additional 280,098 shares in the last quarter. Finally, Ossiam boosted its position in shares of Brookfield Asset Management by 39.0% during the 4th quarter. Ossiam now owns 32,430 shares of the financial services provider’s stock worth $1,309,000 after purchasing an additional 9,095 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Brookfield Asset Management Trading Down 0.9 %

Shares of BAM stock opened at $38.01 on Thursday. The firm has a 50-day moving average price of $39.08 and a 200 day moving average price of $39.81. Brookfield Asset Management Ltd. has a twelve month low of $28.35 and a twelve month high of $43.00. The company has a market capitalization of $16.81 billion, a price-to-earnings ratio of 35.19, a PEG ratio of 1.73 and a beta of 1.67.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $884.00 million during the quarter. As a group, research analysts predict that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

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

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.