Charles Schwab Investment Management Inc. Has $45.65 Million Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Charles Schwab Investment Management Inc. grew its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 842,141 shares of the financial services provider’s stock after buying an additional 7,212 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.19% of Brookfield Asset Management worth $45,650,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Bank of Montreal Can increased its holdings in Brookfield Asset Management by 0.5% during the third quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider’s stock worth $435,729,000 after buying an additional 43,134 shares during the last quarter. Principal Financial Group Inc. raised its position 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 buying an additional 62,908 shares in the last quarter. CIBC Asset Management Inc raised its holdings in 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 valued at $188,057,000 after acquiring an additional 370,383 shares in the last quarter. Douglass Winthrop Advisors LLC increased its position in shares of Brookfield Asset Management by 3.9% in the third quarter. Douglass Winthrop Advisors LLC now owns 2,670,488 shares of the financial services provider’s stock worth $126,287,000 after purchasing an additional 99,020 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Brookfield Asset Management by 66.4% in the third 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 purchasing an additional 784,250 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Performance

NYSE:BAM opened at $46.89 on Friday. The firm has a market cap 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 52-week low of $37.29 and a 52-week high of $62.61. The business’s fifty day moving average is $55.73 and its 200 day moving average is $52.91.

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, 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%. Equities analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm 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 $0.4375 dividend. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.73%. Brookfield Asset Management’s dividend payout ratio is 132.58%.

Analyst Upgrades and Downgrades

BAM has been the topic of a number of recent analyst reports. Scotiabank decreased their price objective on shares of Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. BMO Capital Markets upped their price target on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research report on Thursday, February 13th. Wells Fargo & Company lowered their price objective on Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating for the company in a research report on Thursday, February 13th. CIBC lifted 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. Finally, StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management has a consensus rating of “Hold” and an average target price of $56.71.

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.