Raymond James Financial Inc. Invests $12.07 Million in Brookfield Asset Management Ltd. (NYSE:BAM)

Raymond James Financial Inc. acquired a new position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 222,725 shares of the financial services provider's stock, valued at approximately $12,069,000. Raymond James Financial Inc. owned approximately 0.05% of Brookfield Asset Management at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BAM. RPg Family Wealth Advisory LLC purchased a new position in Brookfield Asset Management in the 3rd quarter worth $27,000. Versant Capital Management Inc raised its stake in shares of Brookfield Asset Management by 1,606.3% during the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider's stock valued at $44,000 after buying an additional 771 shares during the last quarter. Continuum Advisory LLC raised its stake in shares of Brookfield Asset Management by 42.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider's stock valued at $52,000 after buying an additional 329 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Brookfield Asset Management by 35.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider's stock valued at $66,000 after buying an additional 319 shares during the last quarter. Finally, Global Retirement Partners LLC raised its stake in shares of Brookfield Asset Management by 170.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,406 shares of the financial services provider's stock valued at $76,000 after buying an additional 887 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Keefe, Bruyette & Woods reduced their price objective 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. TD Securities lifted their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a research note on Monday, February 10th. BMO Capital Markets lifted their price objective on Brookfield Asset Management from $50.00 to $53.00 and gave the company a "market perform" rating in a research note on Thursday, February 13th. StockNews.com upgraded Brookfield Asset Management from a "sell" rating to a "hold" rating in a research report on Thursday. Finally, CIBC raised their target price on Brookfield Asset Management from $63.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $56.38.

Brookfield Asset Management Price Performance

Shares of BAM stock traded up $0.17 during trading on Friday, hitting $49.52. 1,636,365 shares of the stock traded hands, compared to its average volume of 1,307,650. The firm has a market capitalization of $21.94 billion, a P/E ratio of 37.52, a price-to-earnings-growth ratio of 1.92 and a beta of 1.50. The firm's fifty day moving average price is $55.18 and its 200-day moving average price is $53.27. 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 analysts' consensus estimates 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, equities research analysts expect 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 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 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. This represents a $1.75 dividend on an annualized basis and a yield of 3.53%. Brookfield Asset Management's payout ratio is presently 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.