Brookfield Asset Management Ltd. (NYSE:BAM) Stock Holdings Lifted by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 7.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 650,628 shares of the financial services provider's stock after acquiring an additional 43,484 shares during the period. Wells Fargo & Company MN owned approximately 0.15% of Brookfield Asset Management worth $35,268,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Truvestments Capital LLC increased its holdings in Brookfield Asset Management by 487.2% in the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 419 shares in the last quarter. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Brookfield Asset Management in the fourth quarter valued at about $32,000. Versant Capital Management Inc raised its holdings in shares of Brookfield Asset Management by 1,606.3% during the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider's stock valued at $44,000 after buying an additional 771 shares during the period. Continuum Advisory LLC lifted its position in Brookfield Asset Management by 42.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider's stock worth $52,000 after acquiring an additional 329 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Brookfield Asset Management by 35.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider's stock worth $66,000 after acquiring an additional 319 shares during the period. Hedge funds and other institutional investors own 68.41% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

BAM has been the topic of a number of recent research reports. TD Securities boosted their target price 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. Bank of America upgraded Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 price target on the stock in a research note on Thursday. CIBC raised their price objective on Brookfield Asset Management from $63.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Keefe, Bruyette & Woods cut their target price on 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. Finally, Hsbc Global Res raised shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 14th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $57.15.

Brookfield Asset Management Stock Performance

Shares of BAM traded up $1.00 during midday trading on Monday, hitting $48.31. 1,690,372 shares of the stock traded hands, compared to its average volume of 1,447,217. The business's 50 day moving average price is $51.89 and its two-hundred day moving average price is $53.62. The firm has a market capitalization of $79.10 billion, a PE ratio of 36.60, a price-to-earnings-growth ratio of 1.92 and a beta of 1.63. Brookfield Asset Management Ltd. 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 earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, topping 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%. As a group, equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a 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 payout ratio 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.