Short Interest in Brookfield Asset Management Ltd. (NYSE:BAM) Increases By 26.7%

Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A was the recipient of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 13,660,000 shares, a growth of 26.7% from the February 13th total of 10,780,000 shares. Currently, 2.8% of the company's shares are short sold. Based on an average trading volume of 1,410,000 shares, the days-to-cover ratio is presently 9.7 days.

Brookfield Asset Management Price Performance

Shares of Brookfield Asset Management stock traded up $1.58 during trading on Wednesday, reaching $50.06. 627,998 shares of the company traded hands, compared to its average volume of 1,296,985. Brookfield Asset Management has a 1-year low of $37.29 and a 1-year high of $62.61. The company has a 50 day moving average price of $55.48 and a 200-day moving average price of $53.18. The firm has a market capitalization of $22.18 billion, a PE ratio of 37.85, a P/E/G ratio of 1.92 and a beta of 1.50.

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 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%. Equities research analysts expect that Brookfield Asset Management will post 1.7 earnings per share for the current year.

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Brookfield Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a $0.4375 dividend. This is an increase from Brookfield Asset Management's previous quarterly dividend of $0.38. The ex-dividend date is Friday, February 28th. This represents a $1.75 annualized dividend and a dividend yield of 3.50%. Brookfield Asset Management's dividend payout ratio (DPR) is presently 132.58%.

Analysts Set New Price Targets

BAM has been the topic of a number of research reports. HSBC raised shares of Brookfield Asset Management from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Keefe, Bruyette & Woods reduced their target price on shares of Brookfield Asset Management from $57.00 to $56.00 and set an "underperform" rating on the stock in a report on Monday, January 13th. StockNews.com lowered shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a report on Thursday, January 9th. UBS Group initiated coverage on shares of Brookfield Asset Management in a report on Monday, December 16th. They set a "buy" rating on the stock. Finally, TD Securities boosted their price target on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the stock a "buy" rating in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management currently has an average rating of "Hold" and an average target price of $56.71.

Hedge Funds Weigh In On Brookfield Asset Management

Several large investors have recently modified their holdings of BAM. Norges Bank purchased a new position in shares of Brookfield Asset Management in the fourth quarter worth about $287,361,000. William Blair Investment Management LLC bought a new position in shares of Brookfield Asset Management in the fourth quarter valued at approximately $204,169,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Brookfield Asset Management by 103.4% in the fourth 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 acquiring an additional 2,031,995 shares during the period. Madison Investment Advisors LLC bought a new position in shares of Brookfield Asset Management in the fourth quarter valued at approximately $94,122,000. Finally, TD Asset Management Inc. boosted its position 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 acquiring an additional 1,359,126 shares during the period. Hedge funds and other institutional investors own 68.41% of the company's stock.

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.