Jones Financial Companies Lllp Buys 1,182 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Jones Financial Companies Lllp grew its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 91.3% in the 4th quarter, HoldingsChannel reports. The firm owned 2,477 shares of the financial services provider’s stock after buying an additional 1,182 shares during the quarter. Jones Financial Companies Lllp’s holdings in Brookfield Asset Management were worth $134,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new stake in Brookfield Asset Management during the 3rd quarter worth approximately $27,000. Versant Capital Management Inc raised its position in Brookfield Asset Management by 1,606.3% during the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 771 shares during the period. Continuum Advisory LLC raised its position in Brookfield Asset Management by 42.2% during the third quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 329 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its position in Brookfield Asset Management by 35.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 319 shares during the period. Finally, Global Retirement Partners LLC grew its holdings in shares of Brookfield Asset Management by 170.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,406 shares of the financial services provider’s stock worth $76,000 after buying an additional 887 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

Shares of Brookfield Asset Management stock opened at $46.89 on Friday. The firm’s fifty day simple moving average is $55.73 and its 200-day simple moving average is $52.99. The stock has a market capitalization of $20.78 billion, a price-to-earnings ratio of 35.52, a PEG 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.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. Analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be given a $0.4375 dividend. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 annualized dividend and a dividend yield of 3.73%. Brookfield Asset Management’s payout ratio is currently 132.58%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. TD Securities upped their price objective on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a report on Monday, February 10th. BMO Capital Markets increased their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research note on Thursday, February 13th. CIBC increased their target price on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. HSBC raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a report on Monday, January 13th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $56.71.

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.