Fmr LLC Acquires 447,642 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

FMR LLC raised its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,646,285 shares of the financial services provider's stock after acquiring an additional 447,642 shares during the quarter. FMR LLC owned approximately 4.43% of Brookfield Asset Management worth $1,064,983,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings 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 purchasing an additional 168,170 shares during the last quarter. TD Asset Management Inc. raised 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 valued at $903,323,000 after acquiring an additional 1,359,126 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Brookfield Asset Management by 30.5% in the fourth quarter. American Century Companies Inc. now owns 74,389 shares of the financial services provider's stock valued at $4,033,000 after acquiring an additional 17,369 shares during the last quarter. Laffer Tengler Investments Inc. boosted its holdings 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 acquiring an additional 28,768 shares in the last quarter. Finally, Plato Investment Management Ltd grew its position in Brookfield Asset Management by 173.7% during the 4th quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider's stock worth $564,000 after acquiring an additional 6,580 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company's stock.

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Brookfield Asset Management Stock Performance

BAM traded up $1.27 during midday trading on Friday, reaching $47.35. 1,751,265 shares of the company were exchanged, compared to its average volume of 1,446,244. The stock has a market capitalization of $77.52 billion, a P/E ratio of 35.87, a PEG ratio of 1.92 and a beta of 1.63. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $62.61. The stock's 50-day simple moving average is $51.89 and its 200 day simple moving average is $53.62.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings data 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 net margin of 54.47% and a return on equity of 81.16%. On average, research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were given a $0.4375 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.70%. This is a boost from Brookfield Asset Management's previous quarterly dividend of $0.38. Brookfield Asset Management's dividend payout ratio is currently 132.58%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. HSBC raised Brookfield Asset Management from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Scotiabank lowered their price objective on shares of Brookfield Asset Management from $62.50 to $58.00 and set a "sector outperform" rating for the company in a research report on Monday, April 7th. StockNews.com downgraded shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a research note on Monday, April 7th. CIBC increased their price target on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Finally, Jefferies Financial Group dropped their price objective on shares of Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Brookfield Asset Management currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.75.

Brookfield Asset Management Company 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.