Whittier Trust Co. Acquires 11,081 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Whittier Trust Co. raised its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 44.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,153 shares of the financial services provider's stock after purchasing an additional 11,081 shares during the quarter. Whittier Trust Co.'s holdings in Brookfield Asset Management were worth $1,959,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BAM. Royal London Asset Management Ltd. boosted its position in shares of Brookfield Asset Management by 0.5% during the 4th quarter. Royal London Asset Management Ltd. now owns 145,449 shares of the financial services provider's stock valued at $7,882,000 after purchasing an additional 675 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Brookfield Asset Management during the fourth quarter valued at approximately $251,000. Tocqueville Asset Management L.P. boosted its holdings in Brookfield Asset Management by 1.3% during the fourth quarter. Tocqueville Asset Management L.P. now owns 235,787 shares of the financial services provider's stock worth $12,777,000 after buying an additional 3,124 shares in the last quarter. William Blair Investment Management LLC acquired a new position in Brookfield Asset Management in the fourth quarter worth approximately $204,169,000. Finally, Signaturefd LLC increased its holdings in shares of Brookfield Asset Management by 152.6% in the fourth quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider's stock valued at $124,000 after buying an additional 1,387 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BAM. Hsbc Global Res upgraded Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a report on Friday, February 14th. CIBC lifted their price target on Brookfield Asset Management from $63.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Keefe, Bruyette & Woods decreased their target price on shares of Brookfield Asset Management from $57.00 to $56.00 and set an "underperform" rating for the company in a report on Monday, January 13th. StockNews.com upgraded shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a report on Thursday, March 20th. Finally, UBS Group initiated coverage on shares of Brookfield Asset Management in a research note on Monday, December 16th. They issued a "buy" rating for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $56.38.

Brookfield Asset Management Stock Performance

Shares of NYSE BAM traded down $1.15 during mid-day trading on Wednesday, reaching $50.60. The company had a trading volume of 1,137,651 shares, compared to its average volume of 1,308,087. The stock's 50 day moving average is $55.15 and its 200-day moving average is $53.51. Brookfield Asset Management Ltd. has a twelve month low of $37.29 and a twelve month high of $62.61. The stock has a market capitalization of $22.42 billion, a PE ratio of 38.33, a price-to-earnings-growth ratio of 1.92 and a beta of 1.50.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings results 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 return on equity of 81.16% and a net margin of 54.47%. On average, sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be given a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 3.46%. This is an increase from Brookfield Asset Management's previous quarterly dividend of $0.38. The ex-dividend date is Friday, February 28th. Brookfield Asset Management's 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.