Brookfield Asset Management Ltd. $BAM Stake Boosted by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 72.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,904,677 shares of the financial services provider’s stock after purchasing an additional 1,642,375 shares during the quarter. Brookfield Asset Management accounts for about 0.7% of Connor Clark & Lunn Investment Management Ltd.’s holdings, making the stock its 27th biggest position. Connor Clark & Lunn Investment Management Ltd.’s holdings in Brookfield Asset Management were worth $222,161,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC purchased a new stake in shares of Brookfield Asset Management in the 1st quarter valued at approximately $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Brookfield Asset Management by 10.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,050 shares of the financial services provider’s stock worth $12,648,000 after purchasing an additional 24,013 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Brookfield Asset Management by 43.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 941,475 shares of the financial services provider’s stock valued at $52,045,000 after purchasing an additional 286,760 shares during the period. Metis Global Partners LLC raised its stake in Brookfield Asset Management by 23.5% during the 2nd quarter. Metis Global Partners LLC now owns 13,370 shares of the financial services provider’s stock valued at $740,000 after purchasing an additional 2,542 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Brookfield Asset Management in the second quarter valued at $345,000. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Performance

BAM opened at $44.66 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $73.15 billion, a PE ratio of 29.38, a price-to-earnings-growth ratio of 1.60 and a beta of 1.42. The stock has a 50-day moving average of $50.56 and a 200-day moving average of $53.57. Brookfield Asset Management Ltd. has a 52-week low of $41.78 and a 52-week high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. Brookfield Asset Management had a return on equity of 29.81% and a net margin of 51.59%.The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.40 billion. As a group, equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be given a $0.5025 dividend. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.44. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, February 27th. Brookfield Asset Management’s payout ratio is 132.24%.

Analysts Set New Price Targets

Several analysts have recently commented on BAM shares. Scotiabank set a $64.00 target price on Brookfield Asset Management and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Royal Bank Of Canada set a $74.00 price objective on Brookfield Asset Management and gave the stock an “outperform” rating in a research note on Monday, December 15th. Loop Capital set a $60.00 price objective on Brookfield Asset Management in a research report on Tuesday, January 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Brookfield Asset Management in a research note on Monday, December 22nd. Finally, Morgan Stanley set a $63.00 target price on Brookfield Asset Management in a report on Tuesday, February 17th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $63.65.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.