Denali Advisors LLC acquired a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 6,288 shares of the financial services provider's stock, valued at approximately $341,000.
A number of other institutional investors have also recently made changes to their positions in BAM. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Brookfield Asset Management by 66.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider's stock worth $92,896,000 after purchasing an additional 784,250 shares during the period. Segall Bryant & Hamill LLC bought a new position in shares of Brookfield Asset Management during the third quarter worth $19,075,000. CIBC Asset Management Inc increased its stake in Brookfield Asset Management by 10.3% in the 3rd quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider's stock worth $188,057,000 after acquiring an additional 370,383 shares during the last quarter. Bamco Inc. NY lifted its holdings in shares of Brookfield Asset Management by 31.5% in the 3rd quarter. Bamco Inc. NY now owns 1,100,435 shares of the financial services provider's stock valued at $52,040,000 after acquiring an additional 263,532 shares during the last quarter. Finally, Natixis Advisors LLC lifted its holdings in shares of Brookfield Asset Management by 58.1% in the 3rd quarter. Natixis Advisors LLC now owns 589,572 shares of the financial services provider's stock worth $27,881,000 after acquiring an additional 216,591 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.
Brookfield Asset Management Price Performance
NYSE:BAM traded down $1.17 during mid-day trading on Monday, reaching $55.41. The stock had a trading volume of 1,460,306 shares, compared to its average volume of 1,493,322. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $62.61. The stock's 50 day simple moving average is $56.79 and its two-hundred day simple moving average is $52.47. The company has a market capitalization of $24.55 billion, a price-to-earnings ratio of 41.98, a price-to-earnings-growth ratio of 1.92 and a beta of 1.46.
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 (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. Sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.
Brookfield Asset Management Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be given a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 3.16%. This is an increase from Brookfield Asset Management's previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Asset Management's dividend payout ratio is 132.58%.
Analyst Ratings Changes
BAM has been the topic of a number of research reports. Keefe, Bruyette & Woods cut their target price on shares of Brookfield Asset Management from $57.00 to $56.00 and set an "underperform" rating on the stock in a research report on Monday, January 13th. StockNews.com lowered Brookfield Asset Management from a "hold" rating to a "sell" rating in a research note on Thursday, January 9th. Royal Bank of Canada upped their price objective on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an "outperform" rating in a report on Tuesday, November 5th. Hsbc Global Res upgraded Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 14th. Finally, HSBC upgraded Brookfield Asset Management from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued 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 "Hold" and an average price target of $56.71.
Check Out Our Latest Stock Analysis on Brookfield Asset Management
About Brookfield Asset Management
(
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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