Catalyst Funds Management Pty Ltd Invests $2.68 Million in Brookfield Asset Management Ltd. (NYSE:BAM)

Catalyst Funds Management Pty Ltd purchased a new stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 49,499 shares of the financial services provider's stock, valued at approximately $2,682,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Truvestments Capital LLC raised its holdings in shares of Brookfield Asset Management by 487.2% during the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider's stock worth $27,000 after purchasing an additional 419 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in shares of Brookfield Asset Management in the 3rd quarter worth about $27,000. Versant Capital Management Inc increased its holdings in shares of Brookfield Asset Management by 1,606.3% in the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider's stock worth $44,000 after acquiring an additional 771 shares during the period. Continuum Advisory LLC lifted its position in Brookfield Asset Management by 42.2% in the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 329 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in Brookfield Asset Management by 35.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider's stock valued at $66,000 after purchasing an additional 319 shares during the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. BMO Capital Markets lifted 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. HSBC upgraded shares of Brookfield Asset Management from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Hsbc Global Res upgraded shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 14th. Scotiabank lowered their target price on shares of Brookfield Asset Management from $63.00 to $62.50 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Finally, StockNews.com cut shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a research note on Thursday, January 9th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Brookfield Asset Management presently has an average rating of "Hold" and a consensus target price of $56.71.

Brookfield Asset Management Price Performance

Shares of BAM traded up $1.28 during mid-day trading on Wednesday, hitting $49.76. The company's stock had a trading volume of 1,523,565 shares, compared to its average volume of 1,300,277. The firm has a 50-day moving average price of $55.48 and a 200 day moving average price of $53.18. The stock has a market capitalization of $22.05 billion, a price-to-earnings ratio of 37.70, a PEG ratio of 1.92 and a beta of 1.50. Brookfield Asset Management Ltd. has a fifty-two week low of $37.29 and a fifty-two week high of $62.61.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. As a group, equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be given a $0.4375 dividend. This is an increase from Brookfield Asset Management's previous quarterly dividend of $0.38. This represents a $1.75 annualized dividend and a dividend yield of 3.52%. The ex-dividend date is Friday, February 28th. Brookfield Asset Management's dividend payout ratio (DPR) is 132.58%.

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.