Global Retirement Partners LLC Grows Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Global Retirement Partners LLC increased its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 170.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,406 shares of the financial services provider’s stock after buying an additional 887 shares during the quarter. Global Retirement Partners LLC’s holdings in Brookfield Asset Management were worth $76,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BAM. Private Advisor Group LLC raised its holdings in shares of Brookfield Asset Management by 9.3% in the 3rd quarter. Private Advisor Group LLC now owns 13,702 shares of the financial services provider’s stock worth $648,000 after purchasing an additional 1,169 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Brookfield Asset Management in the 3rd quarter worth about $5,210,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Brookfield Asset Management by 3.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 39,234 shares of the financial services provider’s stock worth $1,855,000 after purchasing an additional 1,309 shares during the period. US Bancorp DE raised its holdings in shares of Brookfield Asset Management by 5.2% in the 3rd quarter. US Bancorp DE now owns 15,004 shares of the financial services provider’s stock worth $710,000 after purchasing an additional 736 shares during the period. Finally, Intact Investment Management Inc. raised its holdings in shares of Brookfield Asset Management by 82.8% in the 3rd quarter. Intact Investment Management Inc. now owns 231,740 shares of the financial services provider’s stock worth $10,957,000 after purchasing an additional 104,980 shares during the period. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Price Performance

NYSE:BAM opened at $56.32 on Friday. Brookfield Asset Management Ltd. has a 12-month low of $37.29 and a 12-month high of $62.61. The firm has a market capitalization of $24.96 billion, a P/E ratio of 42.67, a P/E/G ratio of 1.92 and a beta of 1.46. The business has a 50 day simple moving average of $56.79 and a 200 day simple moving average of $52.30.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (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%. Research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company 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 represents a $1.75 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s payout ratio is currently 132.58%.

Analyst Ratings Changes

A number of research firms have recently commented on BAM. The Goldman Sachs Group raised their price objective on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Scotiabank cut their price objective on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating on the stock in a report on Thursday, February 13th. CIBC raised their target price on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. TD Securities raised their target price on Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a report on Monday, February 10th. Finally, HSBC upgraded Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $56.71.

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.