Avanza Fonder AB bought a new stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 18,400 shares of the financial services provider's stock, valued at approximately $997,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in BAM. The Manufacturers Life Insurance Company boosted its holdings in shares of Brookfield Asset Management by 68.5% during the second quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider's stock worth $260,770,000 after acquiring an additional 2,788,611 shares during the period. Mackenzie Financial Corp grew its stake in shares of Brookfield Asset Management by 19.5% in the second quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider's stock valued at $514,867,000 after acquiring an additional 2,205,040 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in Brookfield Asset Management in the 2nd quarter worth about $42,160,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Brookfield Asset Management by 66.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider's stock worth $92,896,000 after purchasing an additional 784,250 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new stake in Brookfield Asset Management in the 3rd quarter valued at about $19,075,000. 68.41% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the company. Wells Fargo & Company cut their price target on Brookfield Asset Management from $56.00 to $55.00 and set an "underweight" rating for the company in a research note on Tuesday, January 14th. TD Securities raised their price target on Brookfield Asset Management from $61.00 to $64.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. BMO Capital Markets upped their price target on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the stock a "market perform" rating in a report on Tuesday, November 5th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Brookfield Asset Management from $57.00 to $56.00 and set an "underperform" rating on the stock in a research note on Monday, January 13th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $54.38.
Check Out Our Latest Analysis on Brookfield Asset Management
Brookfield Asset Management Stock Up 0.9 %
Brookfield Asset Management stock traded up $0.52 during trading hours on Monday, hitting $55.56. The stock had a trading volume of 549,971 shares, compared to its average volume of 613,306. The business's 50 day simple moving average is $55.82 and its 200-day simple moving average is $48.74. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $59.58. The stock has a market cap of $24.62 billion, a price-to-earnings ratio of 49.17, a P/E/G ratio of 1.75 and a beta of 1.45.
Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the business earned $0.35 EPS. Research analysts anticipate that Brookfield Asset Management Ltd. will post 1.45 EPS for the current fiscal year.
Brookfield Asset Management Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.52 annualized dividend and a dividend yield of 2.74%. Brookfield Asset Management's dividend payout ratio is 134.51%.
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.
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