Bridges Investment Management Inc. Raises Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Bridges Investment Management Inc. raised its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 57.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,439 shares of the financial services provider's stock after acquiring an additional 4,560 shares during the period. Bridges Investment Management Inc.'s holdings in Brookfield Asset Management were worth $674,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Hara Capital LLC acquired a new position in shares of Brookfield Asset Management in the 3rd quarter worth approximately $27,000. RPg Family Wealth Advisory LLC bought a new stake in Brookfield Asset Management during the 3rd quarter worth approximately $27,000. Versant Capital Management Inc grew its position in Brookfield Asset Management by 1,606.3% during 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 last quarter. Continuum Advisory LLC grew its position in Brookfield Asset Management by 42.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider's stock worth $52,000 after acquiring an additional 329 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in Brookfield Asset Management by 35.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider's stock worth $66,000 after acquiring an additional 319 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company's stock.

Brookfield Asset Management Stock Down 5.4 %

Brookfield Asset Management stock traded down $2.91 during trading hours on Thursday, reaching $51.06. 2,128,015 shares of the company's stock were exchanged, compared to its average volume of 1,246,815. The firm has a market capitalization of $22.63 billion, a PE ratio of 38.65, a PEG ratio of 1.92 and a beta of 1.46. The firm's 50 day simple moving average is $56.72 and its 200 day simple moving average is $52.66. Brookfield Asset Management Ltd. has a twelve month low of $37.29 and a twelve month high of $62.61.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be issued a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from Brookfield Asset Management's previous quarterly dividend of $0.38. Brookfield Asset Management's dividend payout ratio (DPR) is currently 132.58%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BAM shares. Keefe, Bruyette & Woods lowered their target price on Brookfield Asset Management from $57.00 to $56.00 and set an "underperform" rating for the company in a research note on Monday, January 13th. TD Securities increased their price objective on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the stock a "buy" rating in a research report on Monday, February 10th. StockNews.com lowered shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a research note on Thursday, January 9th. HSBC raised Brookfield Asset Management from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Finally, The Goldman Sachs Group lifted their target price 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. Three analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $56.71.

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.