Norges Bank Acquires Shares of 5,304,727 Brookfield Asset Management Ltd. (NYSE:BAM)

Norges Bank acquired 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 Securities and Exchange Commission (SEC). The institutional investor acquired 5,304,727 shares of the financial services provider's stock, valued at approximately $287,361,000. Norges Bank owned 1.20% of Brookfield Asset Management at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BAM. Tandem Capital Management Corp ADV increased its position in Brookfield Asset Management by 0.4% in the 4th quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider's stock valued at $2,119,000 after buying an additional 175 shares in the last quarter. Public Sector Pension Investment Board grew its stake in Brookfield Asset Management by 0.4% in the third quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider's stock valued at $2,201,000 after acquiring an additional 188 shares during the period. Gold Investment Management Ltd. increased its holdings in shares of Brookfield Asset Management by 0.5% during the fourth quarter. Gold Investment Management Ltd. now owns 41,889 shares of the financial services provider's stock valued at $2,271,000 after acquiring an additional 219 shares in the last quarter. Procyon Advisors LLC increased its holdings in shares of Brookfield Asset Management by 2.7% during the fourth quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider's stock valued at $505,000 after acquiring an additional 249 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Brookfield Asset Management by 35.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider's stock worth $66,000 after purchasing an additional 319 shares during the period. Institutional investors and hedge funds own 68.41% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of brokerages have commented on BAM. StockNews.com upgraded shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a research note on Thursday, March 20th. Hsbc Global Res raised shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods dropped their price target 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. 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. Finally, HSBC raised Brookfield Asset Management from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $56.38.

Brookfield Asset Management Trading Down 7.0 %

Shares of BAM traded down $3.56 on Thursday, reaching $47.25. 1,085,498 shares of the company's stock traded hands, compared to its average volume of 1,371,776. The stock's 50 day simple moving average is $54.43 and its two-hundred day simple moving average is $53.70. The stock has a market cap of $77.36 billion, a PE ratio of 35.80, a PEG ratio of 1.92 and a beta of 1.62. Brookfield Asset Management Ltd. has a 52-week low of $37.29 and a 52-week high of $62.61.

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 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%. Analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

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

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.