Brookfield Asset Management Ltd. (NYSE:BAM) Stock Position Increased by Capital World Investors

Capital World Investors lifted its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 10.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 24,562,364 shares of the financial services provider’s stock after acquiring an additional 2,241,372 shares during the quarter. Capital World Investors owned about 0.06% of Brookfield Asset Management worth $986,656,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. FMR LLC grew its holdings in shares of Brookfield Asset Management by 10.2% during the third quarter. FMR LLC now owns 14,217,008 shares of the financial services provider’s stock valued at $473,859,000 after buying an additional 1,313,734 shares in the last quarter. TD Asset Management Inc grew its stake in Brookfield Asset Management by 29.2% during the 4th quarter. TD Asset Management Inc now owns 11,498,183 shares of the financial services provider’s stock valued at $464,078,000 after acquiring an additional 2,595,793 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Brookfield Asset Management by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 10,402,885 shares of the financial services provider’s stock valued at $346,832,000 after purchasing an additional 120,714 shares during the period. Beutel Goodman & Co Ltd. increased its holdings in shares of Brookfield Asset Management by 114.5% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 6,922,224 shares of the financial services provider’s stock valued at $279,387,000 after purchasing an additional 3,695,774 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Brookfield Asset Management by 5.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 6,885,165 shares of the financial services provider’s stock worth $229,551,000 after purchasing an additional 365,237 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on BAM shares. Royal Bank of Canada upped their price objective on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. JPMorgan Chase & Co. assumed coverage on Brookfield Asset Management in a research note on Wednesday, May 15th. They set a “neutral” rating and a $41.00 price target for the company. BMO Capital Markets boosted their target price on shares of Brookfield Asset Management from $34.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, February 8th. Finally, Scotiabank lowered their target price on shares of Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating on the stock in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.14.

Brookfield Asset Management Stock Up 1.4 %

NYSE BAM traded up $0.54 during trading hours on Wednesday, hitting $39.62. The company’s stock had a trading volume of 1,214,461 shares, compared to its average volume of 1,447,665. The stock has a fifty day moving average of $39.88 and a 200 day moving average of $39.45. Brookfield Asset Management Ltd. has a twelve month low of $28.35 and a twelve month high of $43.00. The firm has a market capitalization of $17.51 billion, a P/E ratio of 36.19, a PEG ratio of 1.77 and a beta of 1.67.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. The business had revenue of $884.00 million during the quarter. On average, analysts predict that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend is Friday, May 31st. Brookfield Asset Management’s payout ratio is 140.74%.

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.