FIL Ltd Has $833.58 Million Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

FIL Ltd raised its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 3.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,369,816 shares of the financial services provider's stock after purchasing an additional 574,978 shares during the period. Brookfield Asset Management accounts for 0.8% of FIL Ltd's portfolio, making the stock its 26th largest holding. FIL Ltd owned 3.47% of Brookfield Asset Management worth $833,581,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of 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 purchasing an additional 168,170 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Brookfield Asset Management by 3.7% in the fourth quarter. Bank of Montreal Can now owns 9,575,446 shares of the financial services provider's stock valued at $518,655,000 after acquiring an additional 339,072 shares during the period. TD Asset Management Inc. grew its stake in shares of 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 worth $903,323,000 after acquiring an additional 1,359,126 shares during the last quarter. American Century Companies Inc. increased its position in Brookfield Asset Management by 30.5% during the fourth quarter. American Century Companies Inc. now owns 74,389 shares of the financial services provider's stock worth $4,033,000 after acquiring an additional 17,369 shares during the period. Finally, Laffer Tengler Investments Inc. raised its stake in Brookfield Asset Management by 24.2% during the 4th quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider's stock valued at $8,008,000 after purchasing an additional 28,768 shares during the last quarter. Institutional investors own 68.41% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. TD Securities boosted their price objective on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the stock a "buy" rating in a report on Monday, February 10th. BMO Capital Markets upped their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the company a "market perform" rating in a report on Thursday, February 13th. HSBC raised Brookfield Asset Management from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Keefe, Bruyette & Woods cut their target price on 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. Finally, Hsbc Global Res raised shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a report on Friday, February 14th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Brookfield Asset Management presently has an average rating of "Moderate Buy" and a consensus price target of $57.75.

Brookfield Asset Management Stock Performance

Brookfield Asset Management stock traded up $1.27 during midday trading on Friday, reaching $47.35. The stock had a trading volume of 1,751,265 shares, compared to its average volume of 1,446,244. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $62.61. The firm's fifty day simple moving average is $51.89 and its 200-day simple moving average is $53.62. The stock has a market capitalization of $77.52 billion, a P/E ratio of 35.87, 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 earnings per share 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%. On average, sell-side 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 business also recently declared 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 3.70%. This is an increase from Brookfield Asset Management's previous quarterly dividend of $0.38. The ex-dividend date was Friday, February 28th. Brookfield Asset Management's dividend payout ratio (DPR) is currently 132.58%.

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.