Versant Capital Management Inc Purchases 771 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Versant Capital Management Inc grew its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1,606.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 819 shares of the financial services provider’s stock after purchasing an additional 771 shares during the quarter. Versant Capital Management Inc’s holdings in Brookfield Asset Management were worth $44,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its holdings in Brookfield Asset Management by 68.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock worth $260,770,000 after purchasing an additional 2,788,611 shares during the period. Mackenzie Financial Corp raised its stake in shares of Brookfield Asset Management by 19.5% in the second quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock worth $514,867,000 after buying an additional 2,205,040 shares during the period. Dimensional Fund Advisors LP purchased a new position in shares of Brookfield Asset Management during the 2nd quarter valued at about $42,160,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Brookfield Asset Management by 66.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock valued at $92,896,000 after acquiring an additional 784,250 shares during the period. Finally, Segall Bryant & Hamill LLC purchased a new stake in shares of Brookfield Asset Management in the third quarter worth $19,075,000. 68.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BAM shares. Royal Bank of Canada increased their price target on Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Wells Fargo & Company lifted their target price on Brookfield Asset Management from $51.00 to $56.00 and gave the company an “underweight” rating in a research note on Thursday, December 12th. Bank of America increased their price objective on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, TD Securities raised their target price on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management has an average rating of “Hold” and a consensus price target of $54.54.

Brookfield Asset Management Trading Up 0.3 %

BAM opened at $54.83 on Tuesday. The firm has a market cap of $24.29 billion, a P/E ratio of 48.52, a P/E/G ratio of 2.43 and a beta of 1.45. The stock has a 50-day moving average of $55.94 and a 200 day moving average of $47.72. Brookfield Asset Management Ltd. has a 12 month low of $37.19 and a 12 month high of $59.58.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same period in the previous year, the firm earned $0.35 earnings per share. On average, research analysts forecast that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were given a dividend of $0.38 per share. The ex-dividend date was Friday, November 29th. This represents a $1.52 annualized dividend and a yield of 2.77%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

Brookfield Asset Management 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.