Scotia Capital Inc. Has $57.81 Million Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Scotia Capital Inc. lowered its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,068,954 shares of the financial services provider's stock after selling 7,359 shares during the quarter. Scotia Capital Inc. owned 0.24% of Brookfield Asset Management worth $57,810,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of BAM. FMR LLC raised its position in shares of Brookfield Asset Management by 2.3% during the 4th quarter. FMR LLC now owns 19,646,285 shares of the financial services provider's stock valued at $1,064,983,000 after acquiring an additional 447,642 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Brookfield Asset Management by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 16,901,942 shares of the financial services provider's stock worth $916,676,000 after purchasing an additional 263,660 shares during the last quarter. TD Asset Management Inc. increased its holdings 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 buying an additional 1,359,126 shares in the last quarter. FIL Ltd lifted its holdings in shares of Brookfield Asset Management by 3.9% during the fourth quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider's stock valued at $833,581,000 after purchasing an additional 574,978 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in Brookfield Asset Management by 3.7% during the fourth quarter. Bank of Montreal Can now owns 9,575,446 shares of the financial services provider's stock valued at $518,655,000 after buying an additional 339,072 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BAM shares. BMO Capital Markets boosted their price target on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company a "market perform" rating in a report on Thursday, February 13th. 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. CIBC boosted their price objective on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. TD Securities raised their target price on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a research note on Monday, February 10th. Finally, StockNews.com cut shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a report on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $57.15.

Brookfield Asset Management Stock Up 2.1 %

NYSE:BAM traded up $1.00 during mid-day trading on Monday, reaching $48.31. 1,667,674 shares of the company were exchanged, compared to its average volume of 1,447,216. Brookfield Asset Management Ltd. has a 12 month low of $37.29 and a 12 month high of $62.61. The stock has a market cap of $79.10 billion, a PE ratio of 36.60, a PEG ratio of 1.92 and a beta of 1.63. The company has a fifty day moving average of $51.89 and a 200 day moving average of $53.62.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates 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, equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS 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. Stockholders of record on Friday, February 28th were paid a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from Brookfield Asset Management's previous quarterly dividend of $0.38. Brookfield Asset Management's dividend payout ratio (DPR) is 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.