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

Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A was the target of a large growth in short interest in 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. Based on an average trading volume of 1,410,000 shares, the short-interest ratio is currently 9.7 days. Currently, 2.8% of the shares of the stock are short sold.

Brookfield Asset Management Stock Up 2.1 %

NYSE BAM traded up $0.97 on Monday, hitting $47.90. The company's stock had a trading volume of 1,375,877 shares, compared to its average volume of 1,292,968. The company's 50-day moving average is $55.73 and its 200 day moving average is $53.07. The firm has a market cap of $21.23 billion, a PE ratio of 36.29, a PEG ratio of 1.92 and a beta of 1.50. Brookfield Asset Management 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 posted its quarterly earnings data 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 return on equity of 81.16% and a net margin of 54.47%. On average, equities analysts expect that Brookfield Asset Management will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.65%. This is an increase from Brookfield Asset Management's previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Asset Management's dividend payout ratio (DPR) is 132.58%.

Analysts Set New Price Targets

Several brokerages have commented on BAM. CIBC boosted their price objective on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Keefe, Bruyette & Woods dropped their price objective on Brookfield Asset Management from $57.00 to $56.00 and set an "underperform" rating for the company in a research report on Monday, January 13th. Wells Fargo & Company reduced their price objective on Brookfield Asset Management from $55.00 to $54.00 and set an "underweight" rating on the stock in a research note on Thursday, February 13th. The Goldman Sachs Group boosted their target price on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th. Finally, Hsbc Global Res upgraded shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 14th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $56.71.

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Hedge Funds Weigh In On Brookfield Asset Management

A number of hedge funds and other institutional investors have recently made changes to their positions in BAM. Geode Capital Management LLC lifted its position 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 worth $77,293,000 after purchasing an additional 168,170 shares during the period. Laffer Tengler Investments Inc. raised its stake in Brookfield Asset Management by 24.2% during the fourth quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider's stock worth $8,008,000 after buying an additional 28,768 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in Brookfield Asset Management by 2,857.1% in the third quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider's stock valued at $489,000 after buying an additional 10,000 shares during the period. Plato Investment Management Ltd boosted its position 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 valued at $564,000 after acquiring an additional 6,580 shares during the last quarter. Finally, Tacita Capital Inc boosted its position in Brookfield Asset Management by 19.3% during the fourth quarter. Tacita Capital Inc now owns 47,767 shares of the financial services provider's stock valued at $2,585,000 after acquiring an additional 7,743 shares during the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

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.

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