1,736,887 Shares in Brookfield Asset Management Ltd. (NYSE:BAM) Acquired by Madison Investment Advisors LLC

Madison Investment Advisors LLC purchased a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,736,887 shares of the financial services provider's stock, valued at approximately $94,122,000. Madison Investment Advisors LLC owned about 0.39% of Brookfield Asset Management as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. grew its stake in Brookfield Asset Management by 103.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider's stock valued at $216,507,000 after purchasing an additional 2,031,995 shares during the last quarter. Avantax Advisory Services Inc. grew its stake in Brookfield Asset Management by 26.0% during the 4th quarter. Avantax Advisory Services Inc. now owns 9,431 shares of the financial services provider's stock valued at $511,000 after purchasing an additional 1,944 shares during the last quarter. Truvestments Capital LLC boosted its stake in shares of Brookfield Asset Management by 487.2% in the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider's stock worth $27,000 after buying an additional 419 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Brookfield Asset Management by 13.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 339,948 shares of the financial services provider's stock worth $18,422,000 after buying an additional 39,340 shares during the last quarter. Finally, HighTower Advisors LLC boosted its stake in shares of Brookfield Asset Management by 2.4% in the fourth quarter. HighTower Advisors LLC now owns 137,945 shares of the financial services provider's stock worth $7,475,000 after buying an additional 3,193 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.

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Wall Street Analyst Weigh In

A number of brokerages have recently commented on BAM. TD Securities upped their target price on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a "buy" rating in a research note on Monday, February 10th. Wells Fargo & Company lowered their target price on Brookfield Asset Management from $55.00 to $54.00 and set an "underweight" rating on the stock in a research note on Thursday, February 13th. BMO Capital Markets upped their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a "market perform" rating in a research note on Thursday, February 13th. The Goldman Sachs Group increased their price target on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a "buy" rating in a research report on Tuesday, November 19th. Finally, Scotiabank lowered their price target on Brookfield Asset Management from $63.00 to $62.50 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Three research 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 stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $56.71.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM traded up $0.97 during midday trading on Monday, hitting $47.90. The company had a trading volume of 1,375,877 shares, compared to its average volume of 1,292,968. Brookfield Asset Management Ltd. has a twelve month low of $37.29 and a twelve month high of $62.61. The stock has a market cap of $21.23 billion, a price-to-earnings ratio of 36.29, a price-to-earnings-growth ratio of 1.92 and a beta of 1.50. 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 EPS for the quarter, beating 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, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be given a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 3.65%. This is a positive change 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 presently 132.58%.

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.