Commonwealth Equity Services LLC Increases Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Commonwealth Equity Services LLC increased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 6.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,869 shares of the financial services provider’s stock after purchasing an additional 1,850 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Brookfield Asset Management were worth $1,673,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in shares of Brookfield Asset Management by 0.7% during the 4th 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. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Brookfield Asset Management by 103.4% during 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 purchasing an additional 2,031,995 shares in the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of Brookfield Asset Management in the fourth quarter valued at about $94,122,000. Geode Capital Management LLC increased its stake in shares of 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 worth $77,293,000 after purchasing an additional 168,170 shares in the last quarter. Finally, Alberta Investment Management Corp raised its position in shares of Brookfield Asset Management by 10.6% during the 4th quarter. Alberta Investment Management Corp now owns 1,259,943 shares of the financial services provider’s stock worth $68,297,000 after purchasing an additional 121,067 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BAM shares. CIBC lifted their price objective on Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. BMO Capital Markets increased their price objective on Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research note on Thursday, February 13th. Keefe, Bruyette & Woods lowered 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 research note on Monday, January 13th. UBS Group assumed coverage on shares of Brookfield Asset Management in a research report on Monday, December 16th. They issued a “buy” rating for the company. Finally, TD Securities boosted their price target 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. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.38.

Brookfield Asset Management Stock Down 3.8 %

BAM stock opened at $48.48 on Friday. Brookfield Asset Management Ltd. has a 52-week low of $37.29 and a 52-week high of $62.61. The business has a fifty day moving average of $54.84 and a two-hundred day moving average of $53.52. The stock has a market cap of $79.37 billion, a price-to-earnings ratio of 36.72, a price-to-earnings-growth ratio of 1.92 and a beta of 1.50.

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 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%. As a group, sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The business 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 dividend of $0.4375 per share. The ex-dividend date is Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.61%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 132.58%.

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.