Korea Investment CORP Purchases 100,233 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Korea Investment CORP grew its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 77.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 228,895 shares of the financial services provider’s stock after buying an additional 100,233 shares during the quarter. Korea Investment CORP owned approximately 0.05% of Brookfield Asset Management worth $12,408,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. William Blair Investment Management LLC bought a new position in Brookfield Asset Management in the 4th quarter valued at $204,169,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Brookfield Asset Management by 103.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider’s stock valued at $216,507,000 after buying an additional 2,031,995 shares during the last quarter. Madison Investment Advisors LLC bought a new position in shares of Brookfield Asset Management in the fourth quarter valued at about $94,122,000. TD Asset Management Inc. lifted its position in Brookfield Asset Management by 8.9% during the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock worth $903,323,000 after buying an additional 1,359,126 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its holdings in Brookfield Asset Management by 5,331.6% during the 4th quarter. Proficio Capital Partners LLC now owns 351,205 shares of the financial services provider’s stock worth $19,032,000 after acquiring an additional 344,739 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Stock Down 3.8 %

BAM opened at $48.48 on Monday. 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. Brookfield Asset Management Ltd. has a 12 month low of $37.29 and a 12 month high of $62.61. The company has a fifty day simple moving average of $54.84 and a 200 day simple moving average of $53.66.

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

Brookfield Asset Management Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BAM. StockNews.com upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Thursday, March 20th. Wells Fargo & Company lowered their target price 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. CIBC upped their price target on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. HSBC upgraded Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Finally, TD Securities upped their target price on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $56.38.

Brookfield Asset Management Company 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.