Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A dropped 5.1% during trading on Thursday . The stock traded as low as $49.92 and last traded at $51.20. Approximately 402,479 shares traded hands during trading, a decline of 68% from the average daily volume of 1,239,891 shares. The stock had previously closed at $53.97.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the stock. Scotiabank reduced 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. HSBC raised shares of Brookfield Asset Management from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. CIBC boosted their target price on Brookfield Asset Management from $63.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Hsbc Global Res raised Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 14th. Finally, The Goldman Sachs Group raised their price target on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th. Three analysts have rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Brookfield Asset Management presently has a consensus rating of "Hold" and an average price target of $56.71.
Check Out Our Latest Research Report on BAM
Brookfield Asset Management Trading Down 3.6 %
The firm has a market cap of $20.77 billion, a P/E ratio of 35.51, a P/E/G ratio of 1.92 and a beta of 1.50. The business has a 50-day moving average price of $56.50 and a 200-day moving average price of $52.88.
Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its 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%. On average, equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.
Brookfield Asset Management Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 3.73%. This is a positive change from Brookfield Asset Management's previous quarterly dividend of $0.38. The ex-dividend date is Friday, February 28th. Brookfield Asset Management's dividend payout ratio (DPR) is presently 132.58%.
Institutional Trading of Brookfield Asset Management
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Brookfield Asset Management during the 4th quarter worth $287,361,000. William Blair Investment Management LLC purchased a new position in shares of Brookfield Asset Management in the 4th quarter worth approximately $204,169,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Brookfield Asset Management by 103.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider's stock worth $216,507,000 after acquiring an additional 2,031,995 shares in the last quarter. Madison Investment Advisors LLC purchased a new stake in Brookfield Asset Management during the fourth quarter valued at approximately $94,122,000. Finally, TD Asset Management Inc. boosted its stake in Brookfield Asset Management by 8.9% in the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider's stock valued at $903,323,000 after acquiring an additional 1,359,126 shares in the last quarter. Institutional investors own 68.41% of the company's stock.
About Brookfield Asset Management
(
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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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