Oppenheimer Asset Management Inc. Purchases New Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Oppenheimer Asset Management Inc. bought a new position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,856 shares of the financial services provider’s stock, valued at approximately $209,000.

A number of other large investors have also bought and sold shares of the company. Geode Capital Management LLC boosted its stake in Brookfield Asset Management by 11.6% during the third quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock valued at $77,293,000 after buying an additional 168,170 shares during the period. Avior Wealth Management LLC increased its holdings in Brookfield Asset Management by 2,857.1% during the 3rd quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock valued at $489,000 after purchasing an additional 10,000 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Brookfield Asset Management by 5.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 834,929 shares of the financial services provider’s stock worth $39,516,000 after acquiring an additional 45,670 shares during the period. LGT Capital Partners LTD. grew its holdings in shares of Brookfield Asset Management by 11.5% during the 3rd quarter. LGT Capital Partners LTD. now owns 534,000 shares of the financial services provider’s stock worth $25,273,000 after acquiring an additional 55,000 shares during the period. Finally, CIBC Asset Management Inc boosted its position in shares of Brookfield Asset Management by 10.3% in the 3rd quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock worth $188,057,000 after purchasing an additional 370,383 shares in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on BAM shares. HSBC raised Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. CIBC increased their price objective on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. The Goldman Sachs Group increased their price target on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Brookfield Asset Management currently has a consensus rating of “Hold” and an average target price of $56.71.

Brookfield Asset Management Stock Down 3.1 %

Shares of BAM stock opened at $48.75 on Friday. The firm has a market cap of $21.60 billion, a price-to-earnings ratio of 36.93, a PEG ratio of 1.92 and a beta of 1.46. The company’s 50 day moving average is $56.50 and its 200 day moving average is $52.70. Brookfield Asset Management Ltd. has a 52-week low of $37.29 and a 52-week high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share 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 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a dividend of $0.4375 per share. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 annualized dividend and a dividend yield of 3.59%. The ex-dividend date is Friday, February 28th. Brookfield Asset Management’s payout ratio is presently 132.58%.

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.