6,746 Shares in Brookfield Asset Management Ltd. (NYSE:BAM) Acquired by Summit Financial LLC

Summit Financial LLC bought a new position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,746 shares of the financial services provider's stock, valued at approximately $366,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Brookfield Asset Management by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 16,901,942 shares of the financial services provider's stock valued at $916,676,000 after purchasing an additional 263,660 shares during the last quarter. TD Asset Management Inc. boosted its position in shares of Brookfield Asset Management by 8.9% during 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 during the last quarter. Principal Financial Group Inc. increased its holdings in Brookfield Asset Management by 0.7% in the 4th quarter. Principal Financial Group Inc. now owns 8,930,366 shares of the financial services provider's stock worth $483,963,000 after buying an additional 62,908 shares in the last quarter. Norges Bank purchased a new position in Brookfield Asset Management in the 4th quarter worth about $287,361,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Brookfield Asset Management by 103.4% during the 4th 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. Institutional investors own 68.41% of the company's stock.

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Brookfield Asset Management Trading Up 3.7 %

Shares of BAM traded up $1.60 during midday trading on Tuesday, reaching $45.14. 719,427 shares of the stock were exchanged, compared to its average volume of 1,784,059. The company has a market capitalization of $73.90 billion, a P/E ratio of 34.20, a PEG ratio of 1.92 and a beta of 1.63. Brookfield Asset Management Ltd. has a 52 week low of $37.29 and a 52 week high of $62.61. The company's 50 day moving average is $53.57 and its two-hundred day moving average is $53.72.

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 (EPS) 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%. On average, sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 3.88%. 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 payout ratio is presently 132.58%.

Analysts Set New Price Targets

A number of analysts have recently commented on BAM shares. CIBC lifted their price target 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. StockNews.com downgraded shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a research report on Monday. UBS Group started coverage on Brookfield Asset Management in a report on Monday, December 16th. They set a "buy" rating on the stock. Keefe, Bruyette & Woods dropped their price target on Brookfield Asset Management from $57.00 to $56.00 and set an "underperform" rating on the stock in a research note on Monday, January 13th. Finally, TD Securities upped their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a research report on Monday, February 10th. Three investment analysts have rated the stock with a sell rating, four have assigned 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, the company presently has an average rating of "Hold" and a consensus target price of $57.67.

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.