TD Waterhouse Canada Inc. Buys 10,303 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

TD Waterhouse Canada Inc. increased its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,303,653 shares of the financial services provider's stock after purchasing an additional 10,303 shares during the quarter. TD Waterhouse Canada Inc. owned approximately 0.29% of Brookfield Asset Management worth $70,419,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in BAM. Norges Bank purchased a new stake in shares of Brookfield Asset Management in the 4th quarter worth about $287,361,000. William Blair Investment Management LLC purchased a new stake in shares of Brookfield Asset Management in the 4th quarter worth approximately $204,169,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Brookfield Asset Management by 103.4% during 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 buying an additional 2,031,995 shares during the last quarter. Madison Investment Advisors LLC bought a new stake in Brookfield Asset Management in the fourth quarter worth $94,122,000. Finally, TD Asset Management Inc. raised its position in shares of Brookfield Asset Management by 8.9% in the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider's stock worth $903,323,000 after purchasing an additional 1,359,126 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BAM has been the subject of a number of analyst reports. BMO Capital Markets raised their price objective on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company a "market perform" rating in a research note on Thursday, February 13th. Jefferies Financial Group decreased their price objective on shares of Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. Hsbc Global Res upgraded Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 14th. Morgan Stanley dropped their price objective on Brookfield Asset Management from $62.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Finally, HSBC upgraded shares of Brookfield Asset Management from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Brookfield Asset Management has a consensus rating of "Moderate Buy" and an average target price of $57.15.

Brookfield Asset Management Stock Performance

Shares of NYSE BAM traded up $0.54 during trading on Friday, hitting $52.97. The company had a trading volume of 1,753,870 shares, compared to its average volume of 1,886,542. Brookfield Asset Management Ltd. has a 12 month low of $37.29 and a 12 month high of $62.61. The firm has a market capitalization of $86.73 billion, a P/E ratio of 40.13, 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 $50.34 and a 200 day simple moving average of $53.64.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, topping 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%. As a group, analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were issued a $0.4375 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.75 annualized dividend and a yield of 3.30%. This is an increase from Brookfield Asset Management's previous quarterly dividend of $0.38. Brookfield Asset Management's dividend payout ratio is currently 132.58%.

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.