6,507 Shares in Brookfield Asset Management Ltd. (NYSE:BAM) Acquired by Cerity Partners LLC

Cerity Partners LLC acquired a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 6,507 shares of the financial services provider’s stock, valued at approximately $261,000.

Other institutional investors have also modified their holdings of the company. Asset Management One Co. Ltd. lifted its position in shares of Brookfield Asset Management by 127.8% during the 4th 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. America First Investment Advisors LLC lifted its position in shares of Brookfield Asset Management by 107.3% during the 3rd quarter. America First Investment Advisors LLC now owns 338,692 shares of the financial services provider’s stock worth $11,292,000 after buying an additional 175,316 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Brookfield Asset Management by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 10,402,885 shares of the financial services provider’s stock worth $346,832,000 after buying an additional 120,714 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Brookfield Asset Management by 55.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 364,179 shares of the financial services provider’s stock worth $12,145,000 after buying an additional 129,907 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Brookfield Asset Management by 0.7% during the 3rd quarter. Invesco Ltd. now owns 1,594,743 shares of the financial services provider’s stock worth $53,169,000 after buying an additional 11,416 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

Shares of BAM opened at $39.70 on Monday. The stock has a market capitalization of $16.40 billion, a P/E ratio of 35.13, a P/E/G ratio of 1.53 and a beta of 1.68. The company’s fifty day moving average is $40.88 and its two-hundred day moving average is $37.85. 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 announced its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.02. The company had revenue of $1.13 billion for the quarter. Brookfield Asset Management had a net margin of 50.23% and a return on equity of 96.43%. During the same period in the prior year, the firm posted $0.31 earnings per share. Sell-side analysts predict 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. 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 is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.83%. Brookfield Asset Management’s dividend payout ratio is 134.51%.

Analysts Set New Price Targets

Several analysts have recently weighed in on BAM shares. Royal Bank of Canada boosted their price objective on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. HSBC cut shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. TD Securities cut their target price on shares of Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating on the stock in a report on Tuesday, January 9th. BMO Capital Markets lifted their target price on shares of Brookfield Asset Management from $34.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, February 8th. Finally, Scotiabank lifted their target price on shares of Brookfield Asset Management from $46.50 to $47.00 and gave the company a “sector outperform” rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.20.

Brookfield Asset Management Company 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.