Bank of Montreal Can Has $518.66 Million Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Bank of Montreal Can raised its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,575,446 shares of the financial services provider's stock after purchasing an additional 339,072 shares during the quarter. Bank of Montreal Can owned approximately 2.16% of Brookfield Asset Management worth $518,655,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of BAM. FMR LLC raised its holdings in shares of Brookfield Asset Management by 2.3% in the fourth quarter. FMR LLC now owns 19,646,285 shares of the financial services provider's stock valued at $1,064,983,000 after buying an additional 447,642 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Brookfield Asset Management in the fourth quarter worth about $1,491,000. Wells Fargo & Company MN lifted its position in shares of Brookfield Asset Management by 7.2% during the fourth quarter. Wells Fargo & Company MN now owns 650,628 shares of the financial services provider's stock worth $35,268,000 after purchasing an additional 43,484 shares in the last quarter. Cinctive Capital Management LP bought a new position in Brookfield Asset Management in the 4th quarter worth approximately $1,025,000. Finally, Geode Capital Management LLC lifted its holdings in Brookfield Asset Management by 31.3% during the 4th quarter. Geode Capital Management LLC now owns 2,116,337 shares of the financial services provider's stock worth $117,171,000 after buying an additional 504,478 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company's stock.

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Brookfield Asset Management Stock Up 2.8 %

Brookfield Asset Management stock traded up $1.27 during mid-day trading on Friday, hitting $47.35. 1,751,265 shares of the company's stock were exchanged, compared to its average volume of 1,446,255. The company's 50 day simple moving average is $51.89 and its 200-day simple moving average is $53.58. The firm has a market capitalization of $77.52 billion, a P/E ratio of 35.87, a PEG ratio of 1.92 and a beta of 1.63. 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 released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. Research analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were issued a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.70%. This is a positive change from Brookfield Asset Management's previous quarterly dividend of $0.38. The ex-dividend date was Friday, February 28th. Brookfield Asset Management's payout ratio is 132.58%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BAM shares. Hsbc Global Res raised Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 14th. BMO Capital Markets upped their target price 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. Jefferies Financial Group reduced their target price on shares of Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating on the stock in a research note on Tuesday. Keefe, Bruyette & Woods dropped their price target on shares of 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. Finally, CIBC raised their price objective on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $57.75.

About Brookfield Asset Management

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.