Avantax Advisory Services Inc. Raises Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Avantax Advisory Services Inc. increased its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 26.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,431 shares of the financial services provider’s stock after purchasing an additional 1,944 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Brookfield Asset Management were worth $511,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in Brookfield Asset Management by 0.3% during the third quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock worth $419,400,000 after purchasing an additional 24,409 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in Brookfield Asset Management during the 3rd quarter worth approximately $219,000. Pathstone Holdings LLC increased its position in Brookfield Asset Management by 1.0% during the third quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock worth $1,379,000 after buying an additional 278 shares during the period. PNC Financial Services Group Inc. boosted its stake in Brookfield Asset Management by 1.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 60,805 shares of the financial services provider’s stock worth $2,875,000 after purchasing an additional 1,007 shares during the period. Finally, Moors & Cabot Inc. increased its position in Brookfield Asset Management by 4.9% in the 3rd quarter. Moors & Cabot Inc. now owns 8,983 shares of the financial services provider’s stock valued at $425,000 after acquiring an additional 420 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 0.3 %

Shares of Brookfield Asset Management stock opened at $49.52 on Friday. Brookfield Asset Management Ltd. has a twelve month low of $37.29 and a twelve month high of $62.61. The stock has a market capitalization of $21.94 billion, a P/E ratio of 37.52, a PEG ratio of 1.92 and a beta of 1.50. The business’s fifty day moving average price is $55.18 and its 200 day moving average price is $53.27.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data 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%. As a group, sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS 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. Shareholders of record on Friday, February 28th will be paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Friday, February 28th. 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 132.58%.

Analysts Set New Price Targets

A number of research firms have weighed in on BAM. UBS Group initiated coverage on Brookfield Asset Management in a research report on Monday, December 16th. They set a “buy” rating for the company. TD Securities upped their target price on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. 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 report on Thursday, February 13th. Keefe, Bruyette & Woods cut their target price on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research report on Monday, January 13th. Finally, CIBC raised their price target on Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Brookfield Asset Management has an average rating of “Moderate Buy” and an average price target of $56.38.

Brookfield Asset Management 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.