Brookfield Asset Management Ltd. (NYSE:BAM) Shares Purchased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC raised its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 6.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 30,869 shares of the financial services provider’s stock after acquiring an additional 1,850 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Brookfield Asset Management were worth $1,673,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in shares of Brookfield Asset Management by 0.7% in the fourth quarter. Principal Financial Group Inc. now owns 8,930,366 shares of the financial services provider’s stock valued at $483,963,000 after purchasing an additional 62,908 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Brookfield Asset Management by 103.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider’s stock worth $216,507,000 after buying an additional 2,031,995 shares in the last quarter. Madison Investment Advisors LLC purchased a new position in Brookfield Asset Management in the 4th quarter valued at approximately $94,122,000. Geode Capital Management LLC grew its stake in shares of Brookfield Asset Management by 11.6% in the third quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock worth $77,293,000 after acquiring an additional 168,170 shares in the last quarter. Finally, Alberta Investment Management Corp increased its position in shares of Brookfield Asset Management by 10.6% during the fourth quarter. Alberta Investment Management Corp now owns 1,259,943 shares of the financial services provider’s stock worth $68,297,000 after acquiring an additional 121,067 shares during the period. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Trading Down 3.8 %

Shares of NYSE BAM opened at $48.48 on Friday. The stock has a market cap of $79.37 billion, a P/E ratio of 36.72, a P/E/G ratio of 1.92 and a beta of 1.50. The stock has a 50 day moving average of $54.84 and a two-hundred day moving average of $53.52. Brookfield Asset Management Ltd. has a twelve month low of $37.29 and a twelve month high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. As a group, research analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a dividend of $0.4375 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.61%. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 132.58%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BAM. CIBC lifted their target price on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Wells Fargo & Company decreased their price objective on Brookfield Asset Management from $54.00 to $50.00 and set an “underweight” rating for the company in a research note on Thursday, March 20th. UBS Group began coverage on shares of Brookfield Asset Management in a research note on Monday, December 16th. They set a “buy” rating on the stock. BMO Capital Markets boosted their price target on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.38.

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.