Cinctive Capital Management LP Buys Shares of 18,918 Brookfield Asset Management Ltd. (NYSE:BAM)

Cinctive Capital Management LP bought a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 18,918 shares of the financial services provider's stock, valued at approximately $1,025,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of 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 acquiring an additional 504,478 shares during the period. Franklin Resources Inc. grew its stake in Brookfield Asset Management by 15.7% in the fourth quarter. Franklin Resources Inc. now owns 146,731 shares of the financial services provider's stock worth $7,948,000 after purchasing an additional 19,860 shares during the period. Summit Financial LLC bought a new position in Brookfield Asset Management in the fourth quarter worth $366,000. O Shaughnessy Asset Management LLC lifted its position in Brookfield Asset Management by 64.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 171,206 shares of the financial services provider's stock valued at $9,274,000 after buying an additional 67,073 shares during the period. Finally, Summit Securities Group LLC bought a new stake in shares of Brookfield Asset Management during the 4th quarter valued at $152,000. Hedge funds and other institutional investors own 68.41% of the company's stock.

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Brookfield Asset Management Trading Up 11.0 %

BAM traded up $4.72 on Wednesday, reaching $47.62. The stock had a trading volume of 7,011,268 shares, compared to its average volume of 1,438,472. The business's 50-day moving average price is $52.33 and its two-hundred day moving average price is $53.58. The company has a market cap of $77.97 billion, a P/E ratio of 36.08, a price-to-earnings-growth ratio of 1.92 and a beta of 1.63. Brookfield Asset Management Ltd. has a 12-month low of $37.29 and a 12-month high of $62.61.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share 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%. As a group, analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were paid a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 3.67%. This is a positive change from Brookfield Asset Management's previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, February 28th. Brookfield Asset Management's dividend payout ratio (DPR) is 132.58%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BAM. Wells Fargo & Company cut 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. Keefe, Bruyette & Woods reduced their price objective 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. UBS Group began coverage on shares of Brookfield Asset Management in a research note on Monday, December 16th. They issued a "buy" rating on the stock. TD Securities increased their price target on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a report on Monday, February 10th. Finally, StockNews.com lowered shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a report on Monday. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Brookfield Asset Management currently has an average rating of "Hold" and an average price target of $57.75.

Brookfield Asset Management 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.