Cetera Investment Advisers Boosts Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Cetera Investment Advisers boosted its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,034 shares of the financial services provider’s stock after purchasing an additional 756 shares during the quarter. Cetera Investment Advisers’ holdings in Brookfield Asset Management were worth $1,574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of BAM. Truvestments Capital LLC lifted its stake in Brookfield Asset Management by 487.2% in the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 419 shares in the last quarter. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Brookfield Asset Management during the 4th quarter valued at $32,000. NewEdge Advisors LLC raised its position in shares of Brookfield Asset Management by 61.0% during the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider’s stock valued at $47,000 after buying an additional 325 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of Brookfield Asset Management during the 4th quarter valued at $54,000. Finally, Redwood Park Advisors LLC purchased a new stake in shares of Brookfield Asset Management during the 4th quarter valued at $64,000. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BAM has been the topic of several research reports. Morgan Stanley raised their price objective on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the company an “equal weight” rating in a research report on Friday, May 16th. TD Securities raised their price objective on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. BMO Capital Markets raised their price objective on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research report on Thursday, February 13th. Bank of America upgraded shares of Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Thursday, April 10th. Finally, Wells Fargo & Company raised their price objective on shares of Brookfield Asset Management from $48.00 to $54.00 and gave the company an “underweight” rating in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Brookfield Asset Management has a consensus rating of “Moderate Buy” and a consensus target price of $59.08.

Brookfield Asset Management Stock Down 0.7%

Shares of Brookfield Asset Management stock opened at $58.84 on Wednesday. The firm has a market cap of $94.88 billion, a PE ratio of 44.58, a price-to-earnings-growth ratio of 1.92 and a beta of 1.56. Brookfield Asset Management Ltd. has a 12-month low of $37.29 and a 12-month high of $62.61. The company’s fifty day simple moving average is $51.12 and its two-hundred day simple moving average is $54.33.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.40. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. As a group, sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be issued a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Friday, May 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 124.11%.

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.