Stifel Financial Corp Increases Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Stifel Financial Corp lifted its stake in Brookfield Asset Management Ltd. (NYSE:BAMFree Report) (TSE:BAM.A) by 49.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 251,447 shares of the financial services provider’s stock after acquiring an additional 83,378 shares during the quarter. Stifel Financial Corp owned 0.06% of Brookfield Asset Management worth $10,101,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Brookfield Asset Management during the 4th quarter worth approximately $239,421,000. Beutel Goodman & Co Ltd. grew its holdings in Brookfield Asset Management by 114.5% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 6,922,224 shares of the financial services provider’s stock worth $279,387,000 after acquiring an additional 3,695,774 shares during the period. TD Asset Management Inc boosted its position in shares of Brookfield Asset Management by 29.2% during the 4th quarter. TD Asset Management Inc now owns 11,498,183 shares of the financial services provider’s stock worth $464,078,000 after purchasing an additional 2,595,793 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Brookfield Asset Management by 44.6% during the 4th quarter. Mackenzie Financial Corp now owns 6,341,977 shares of the financial services provider’s stock worth $254,842,000 after purchasing an additional 1,955,842 shares in the last quarter. Finally, FMR LLC grew its stake in shares of Brookfield Asset Management by 10.2% during the 3rd quarter. FMR LLC now owns 14,217,008 shares of the financial services provider’s stock worth $473,859,000 after purchasing an additional 1,313,734 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Scotiabank decreased their price objective on shares of Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating on the stock in a report on Thursday, May 9th. JPMorgan Chase & Co. began coverage on Brookfield Asset Management in a report on Wednesday, May 15th. They issued a “neutral” rating and a $41.00 price target on the stock. BMO Capital Markets lifted their price objective on 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, Royal Bank of Canada upped their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, April 29th. One analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.14.

Get Our Latest Stock Report on Brookfield Asset Management

Brookfield Asset Management Trading Up 1.4 %

Shares of BAM stock opened at $39.64 on Thursday. Brookfield Asset Management Ltd. has a twelve month low of $28.35 and a twelve month high of $43.00. The company has a market capitalization of $17.52 billion, a price-to-earnings ratio of 36.70, a PEG ratio of 1.77 and a beta of 1.67. The firm has a 50-day moving average price of $39.83 and a 200 day moving average price of $39.45.

Brookfield Asset Management (NYSE:BAMGet Free Report) (TSE:BAM.A) last posted its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The business had revenue of $884.00 million during the quarter. Brookfield Asset Management had a net margin of 49.36% and a return on equity of 98.98%. As a group, research analysts predict that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend is Friday, May 31st. Brookfield Asset Management’s dividend payout ratio (DPR) is 140.74%.

About Brookfield Asset Management

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Brookfield Asset Management (NYSE:BAM)

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