Alberta Investment Management Corp Buys 121,067 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Alberta Investment Management Corp increased its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 10.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,259,943 shares of the financial services provider's stock after purchasing an additional 121,067 shares during the period. Alberta Investment Management Corp owned approximately 0.28% of Brookfield Asset Management worth $68,297,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in BAM. Tandem Capital Management Corp ADV grew its stake in shares of Brookfield Asset Management by 0.4% in the fourth quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider's stock valued at $2,119,000 after buying an additional 175 shares in the last quarter. Public Sector Pension Investment Board raised its position in Brookfield Asset Management by 0.4% during the third quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider's stock worth $2,201,000 after acquiring an additional 188 shares in the last quarter. Procyon Advisors LLC lifted its stake in Brookfield Asset Management by 2.7% in the fourth quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider's stock valued at $505,000 after acquiring an additional 249 shares during the last quarter. Pathstone Holdings LLC grew its position in shares of Brookfield Asset Management by 1.0% in the 3rd quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider's stock valued at $1,379,000 after acquiring an additional 278 shares during the period. Finally, Foundations Investment Advisors LLC increased its stake in shares of Brookfield Asset Management by 5.0% during the 3rd quarter. Foundations Investment Advisors LLC now owns 6,654 shares of the financial services provider's stock worth $315,000 after purchasing an additional 315 shares during the last quarter. Institutional investors own 68.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BAM. StockNews.com cut Brookfield Asset Management from a "hold" rating to a "sell" rating in a report on Thursday, January 9th. The Goldman Sachs Group raised their price objective on Brookfield Asset Management from $57.00 to $63.00 and gave the company a "buy" rating in a research report on Tuesday, November 19th. Hsbc Global Res raised Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a report on Friday, February 14th. Wells Fargo & Company cut their price target on Brookfield Asset Management from $55.00 to $54.00 and set an "underweight" rating for the company in a report on Thursday, February 13th. Finally, CIBC upped their price objective on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Brookfield Asset Management presently has a consensus rating of "Hold" and a consensus target price of $56.71.

Brookfield Asset Management Stock Down 3.1 %

Shares of BAM traded down $1.86 during trading hours on Friday, hitting $58.45. 2,403,211 shares of the company were exchanged, compared to its average volume of 1,459,417. Brookfield Asset Management Ltd. has a fifty-two week low of $37.29 and a fifty-two week high of $62.61. The company has a market cap of $25.90 billion, a price-to-earnings ratio of 44.28, a P/E/G ratio of 2.20 and a beta of 1.46. The firm's fifty day moving average is $56.65 and its 200 day moving average is $51.56.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings results 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%. Analysts anticipate that Brookfield Asset Management Ltd. will post 1.71 EPS for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a $0.4375 dividend. This is a positive change from Brookfield Asset Management's previous quarterly dividend of $0.38. The ex-dividend date is Friday, February 28th. This represents a $1.75 annualized dividend and a dividend yield of 2.99%. Brookfield Asset Management's dividend payout ratio (DPR) is presently 115.15%.

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.