Schroder Investment Management Group Purchases Shares of 164,734 Brookfield Asset Management Ltd. (NYSE:BAM)

Schroder Investment Management Group purchased 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 filing with the Securities and Exchange Commission (SEC). The fund purchased 164,734 shares of the financial services provider's stock, valued at approximately $8,927,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Brookfield Asset Management by 11.6% in 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 acquiring an additional 168,170 shares during the last quarter. TD Asset Management Inc. boosted its holdings in 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 purchasing an additional 1,359,126 shares in the last quarter. Laffer Tengler Investments Inc. increased its stake in Brookfield Asset Management by 24.2% in the fourth 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. Plato Investment Management Ltd raised its holdings in Brookfield Asset Management by 173.7% during the fourth quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider's stock worth $564,000 after purchasing an additional 6,580 shares in the last quarter. Finally, Tacita Capital Inc lifted its position in shares of Brookfield Asset Management by 19.3% during the 4th quarter. Tacita Capital Inc now owns 47,767 shares of the financial services provider's stock worth $2,585,000 after buying an additional 7,743 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 Up 11.0 %

Shares of NYSE BAM traded up $4.72 during mid-day trading on Wednesday, hitting $47.62. 7,011,268 shares of the company were exchanged, compared to its average volume of 1,438,472. The firm has a market cap of $77.97 billion, a price-to-earnings ratio of 36.08, a price-to-earnings-growth ratio of 1.92 and a beta of 1.63. The stock has a 50 day simple moving average of $52.33 and a 200-day simple moving average of $53.58. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $62.61.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, beating 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%. 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 firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were given a dividend of $0.4375 per share. This is a boost 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 3.67%. Brookfield Asset Management's payout ratio is presently 132.58%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. HSBC raised shares of Brookfield Asset Management from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Jefferies Financial Group cut their target price on Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating on the stock in a research report on Tuesday. Wells Fargo & Company reduced their target price on Brookfield Asset Management from $50.00 to $48.00 and set an "underweight" rating for the company in a report on Tuesday. Scotiabank dropped their price target on Brookfield Asset Management from $62.50 to $58.00 and set a "sector outperform" rating on the stock in a research note on Monday. Finally, CIBC boosted their price objective on Brookfield Asset Management from $63.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price 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.