Capital Group Private Client Services Inc. grew its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 75.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,538 shares of the financial services provider's stock after purchasing an additional 31,162 shares during the period. Capital Group Private Client Services Inc.'s holdings in Brookfield Asset Management were worth $3,931,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of Brookfield Asset Management by 0.3% in the third quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider's stock worth $419,400,000 after buying an additional 24,409 shares in the last quarter. MML Investors Services LLC boosted its holdings in Brookfield Asset Management by 7.3% during the 3rd quarter. MML Investors Services LLC now owns 17,511 shares of the financial services provider's stock valued at $828,000 after acquiring an additional 1,193 shares during the period. Geode Capital Management LLC grew its position in Brookfield Asset Management by 11.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider's stock worth $77,293,000 after acquiring an additional 168,170 shares during the last quarter. Morse Asset Management Inc purchased a new position in Brookfield Asset Management in the 3rd quarter worth approximately $176,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Brookfield Asset Management in the third quarter valued at approximately $209,000. 68.41% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
BAM has been the subject of a number of recent analyst reports. Scotiabank lowered their price target on shares of Brookfield Asset Management from $62.50 to $58.00 and set a "sector outperform" rating for the company in a report on Monday, April 7th. BMO Capital Markets increased their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a "market perform" rating in a report on Thursday, February 13th. CIBC boosted their price target on Brookfield Asset Management from $63.00 to $70.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Hsbc Global Res upgraded Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a report on Friday, February 14th. Finally, Wells Fargo & Company reduced their target price on Brookfield Asset Management from $50.00 to $48.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $57.15.
View Our Latest Research Report on Brookfield Asset Management
Brookfield Asset Management Stock Up 3.0 %
Shares of NYSE BAM traded up $1.51 on Thursday, reaching $52.10. 395,850 shares of the company's stock traded hands, compared to its average volume of 1,428,498. The business's 50 day simple moving average is $50.49 and its two-hundred day simple moving average is $53.61. Brookfield Asset Management Ltd. has a 12 month low of $37.29 and a 12 month high of $62.61. The company has a market cap of $85.31 billion, a price-to-earnings ratio of 39.52, a price-to-earnings-growth ratio of 1.92 and a beta of 1.63.
Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. Analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.
Brookfield Asset Management Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were issued a $0.4375 dividend. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from Brookfield Asset Management's previous quarterly dividend of $0.38. This represents a $1.75 annualized dividend and a yield of 3.36%. Brookfield Asset Management's payout ratio is 132.58%.
Brookfield Asset Management Profile
(
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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