Connor Clark & Lunn Investment Management Ltd. Raises Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 103.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,997,157 shares of the financial services provider's stock after acquiring an additional 2,031,995 shares during the quarter. Brookfield Asset Management makes up about 1.0% of Connor Clark & Lunn Investment Management Ltd.'s portfolio, making the stock its 24th biggest position. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.90% of Brookfield Asset Management worth $216,507,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC boosted 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 valued at $77,293,000 after acquiring an additional 168,170 shares in the last quarter. Laffer Tengler Investments Inc. boosted its position in shares of Brookfield Asset Management by 24.2% in the 4th quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider's stock worth $8,008,000 after purchasing an additional 28,768 shares in the last quarter. Avior Wealth Management LLC boosted its position in shares of Brookfield Asset Management by 2,857.1% in the 3rd quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider's stock worth $489,000 after purchasing an additional 10,000 shares in the last quarter. Plato Investment Management Ltd boosted its position in shares of Brookfield Asset Management by 173.7% in the 4th quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider's stock worth $564,000 after purchasing an additional 6,580 shares in the last quarter. Finally, Tacita Capital Inc raised its stake in Brookfield Asset Management by 19.3% in the 4th quarter. Tacita Capital Inc now owns 47,767 shares of the financial services provider's stock worth $2,585,000 after acquiring an additional 7,743 shares during the last quarter. Institutional investors own 68.41% of the company's stock.

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Brookfield Asset Management Price Performance

Shares of NYSE BAM traded up $1.27 during mid-day trading on Friday, hitting $46.89. The company had a trading volume of 1,836,104 shares, compared to its average volume of 1,298,160. The company has a market capitalization of $20.78 billion, a PE ratio of 35.52, a price-to-earnings-growth ratio of 1.92 and a beta of 1.50. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $62.61. The business's 50-day simple moving average is $55.73 and its 200 day simple moving average is $53.07.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, beating 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%. On average, analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a $0.4375 dividend. The ex-dividend date is Friday, February 28th. This is a boost from Brookfield Asset Management's previous quarterly dividend of $0.38. This represents a $1.75 dividend on an annualized basis and a yield of 3.73%. Brookfield Asset Management's dividend payout ratio (DPR) is currently 132.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. UBS Group began coverage on Brookfield Asset Management in a research note on Monday, December 16th. They issued a "buy" rating for the company. Scotiabank cut their price target on Brookfield Asset Management from $63.00 to $62.50 and set an "outperform" rating for the company in a research note on Thursday, February 13th. TD Securities lifted their price target on Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a research note on Monday, February 10th. Keefe, Bruyette & Woods lowered their price objective on Brookfield Asset Management from $57.00 to $56.00 and set an "underperform" rating on the stock in a report on Monday, January 13th. Finally, BMO Capital Markets lifted their price objective on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a "market perform" rating in a report on Thursday, February 13th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $56.71.

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.