Brookfield Asset Management Ltd. $BAM Shares Bought by Citigroup Inc.

Citigroup Inc. lifted its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 71.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 208,042 shares of the financial services provider’s stock after buying an additional 86,829 shares during the quarter. Citigroup Inc.’s holdings in Brookfield Asset Management were worth $11,842,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Manchester Capital Management LLC boosted its stake in Brookfield Asset Management by 559.5% during the 2nd quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 442 shares during the last quarter. Sagard Holdings Management Inc. acquired a new stake in shares of Brookfield Asset Management in the 2nd quarter valued at about $39,000. Assetmark Inc. lifted its position in shares of Brookfield Asset Management by 95.9% during the third quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 395 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Brookfield Asset Management by 93.3% during the third quarter. GAMMA Investing LLC now owns 831 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 401 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its stake in Brookfield Asset Management by 1,123.5% in the third quarter. TD Private Client Wealth LLC now owns 832 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 764 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

Shares of BAM opened at $46.68 on Friday. Brookfield Asset Management Ltd. has a 12 month low of $41.78 and a 12 month high of $64.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a fifty day moving average price of $51.67 and a 200 day moving average price of $54.39. The company has a market cap of $76.47 billion, a P/E ratio of 30.71, a PEG ratio of 1.63 and a beta of 1.40.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.06. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.40 billion. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.67%. On average, research analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be paid a $0.5025 dividend. The ex-dividend date is Friday, February 27th. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.44. This represents a $2.01 annualized dividend and a dividend yield of 4.3%. Brookfield Asset Management’s dividend payout ratio (DPR) is 115.13%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. UBS Group set a $52.00 price objective on Brookfield Asset Management in a research note on Friday, February 20th. BMO Capital Markets raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. JPMorgan Chase & Co. lifted their price objective on shares of Brookfield Asset Management from $68.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Wall Street Zen upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Brookfield Asset Management in a research report on Monday, December 22nd. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $63.65.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.