International Assets Investment Management LLC Takes $4.16 Million Position in Brookfield Asset Management Ltd. (NYSE:BAM)

International Assets Investment Management LLC bought a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,364 shares of the financial services provider’s stock, valued at approximately $4,160,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Asset Management One Co. Ltd. lifted its position in Brookfield Asset Management by 127.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 62,914 shares of the financial services provider’s stock worth $2,537,000 after buying an additional 35,300 shares during the last quarter. Leavell Investment Management Inc. lifted its position in Brookfield Asset Management by 43.8% in the fourth quarter. Leavell Investment Management Inc. now owns 9,857 shares of the financial services provider’s stock worth $396,000 after buying an additional 3,000 shares during the last quarter. Addenda Capital Inc. lifted its position in Brookfield Asset Management by 0.7% in the fourth quarter. Addenda Capital Inc. now owns 328,321 shares of the financial services provider’s stock worth $13,189,000 after buying an additional 2,300 shares during the last quarter. Baskin Financial Services Inc. lifted its position in Brookfield Asset Management by 2.3% in the fourth quarter. Baskin Financial Services Inc. now owns 296,183 shares of the financial services provider’s stock worth $11,892,000 after buying an additional 6,683 shares during the last quarter. Finally, Fenimore Asset Management Inc. lifted its position in Brookfield Asset Management by 1.2% in the fourth quarter. Fenimore Asset Management Inc. now owns 867,697 shares of the financial services provider’s stock worth $34,855,000 after buying an additional 10,570 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BAM has been the subject of a number of analyst reports. CIBC raised their price target on Brookfield Asset Management from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Scotiabank raised their price target on Brookfield Asset Management from $46.50 to $47.00 and gave the stock a “sector outperform” rating in a research report on Thursday, February 8th. Royal Bank of Canada raised their price target on Brookfield Asset Management from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. BMO Capital Markets lifted their target price on Brookfield Asset Management from $34.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, February 8th. Finally, TD Securities decreased their target price on Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating for the company in a research report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.20.

Brookfield Asset Management Trading Down 0.2 %

NYSE:BAM opened at $38.45 on Wednesday. The company has a market cap of $15.89 billion, a price-to-earnings ratio of 34.03, a price-to-earnings-growth ratio of 1.52 and a beta of 1.68. Brookfield Asset Management Ltd. has a twelve month low of $28.35 and a twelve month high of $43.00. The stock has a fifty day simple moving average of $41.08 and a 200-day simple moving average of $37.46.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. The firm had revenue of $1.13 billion for the quarter. Brookfield Asset Management had a return on equity of 96.43% and a net margin of 50.23%. During the same quarter in the prior year, the business posted $0.31 EPS. As a group, equities research analysts predict that Brookfield Asset Management Ltd. will post 1.49 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.38 per share. The ex-dividend date was Wednesday, February 28th. This represents a $1.52 annualized dividend and a dividend yield of 3.95%. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.32. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 134.51%.

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.