Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 63,920 shares of the financial services provider’s stock after acquiring an additional 1,842 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Brookfield Asset Management were worth $2,580,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BAM. CWM LLC increased its holdings in Brookfield Asset Management by 48.5% during the third quarter. CWM LLC now owns 1,959 shares of the financial services provider’s stock valued at $65,000 after buying an additional 640 shares during the period. SG Americas Securities LLC purchased a new position in shares of Brookfield Asset Management in the 3rd quarter valued at $238,000. CreativeOne Wealth LLC raised its position in shares of Brookfield Asset Management by 6.0% in the 3rd quarter. CreativeOne Wealth LLC now owns 20,131 shares of the financial services provider’s stock worth $671,000 after acquiring an additional 1,146 shares in the last quarter. Private Trust Co. NA lifted its stake in shares of Brookfield Asset Management by 180.4% during the 3rd quarter. Private Trust Co. NA now owns 1,057 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 680 shares during the last quarter. Finally, Washington Trust Advisors Inc. boosted its position in Brookfield Asset Management by 7,142.6% during the third quarter. Washington Trust Advisors Inc. now owns 4,925 shares of the financial services provider’s stock valued at $164,000 after purchasing an additional 4,857 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

Shares of Brookfield Asset Management stock opened at $39.59 on Wednesday. The stock has a market cap of $16.36 billion, a PE ratio of 35.04, a price-to-earnings-growth ratio of 1.48 and a beta of 1.68. The firm has a fifty day moving average price of $40.97 and a 200 day moving average price of $37.72. Brookfield Asset Management Ltd. has a 1 year low of $28.35 and a 1 year high of $43.00.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The business had revenue of $1.13 billion during 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 previous year, the business posted $0.31 EPS. As a group, equities analysts expect that Brookfield Asset Management Ltd. will post 1.49 EPS for the current year.

Brookfield Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were given a dividend of $0.38 per share. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend was Wednesday, February 28th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 134.51%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. TD Securities decreased their price target on shares of 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. Royal Bank of Canada boosted their price target on Brookfield Asset Management from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. Scotiabank increased their price objective on shares of Brookfield Asset Management from $46.50 to $47.00 and gave the company a “sector outperform” rating in a research report on Thursday, February 8th. BMO Capital Markets raised their price target on shares of Brookfield Asset Management from $34.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, February 8th. Finally, HSBC downgraded shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $42.20.

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.