Catalyst Funds Management Pty Ltd Makes New $2.68 Million Investment in Brookfield Asset Management Ltd. (NYSE:BAM)

Catalyst Funds Management Pty Ltd bought a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the 4th quarter, HoldingsChannel reports. The fund bought 49,499 shares of the financial services provider’s stock, valued at approximately $2,682,000.

Other hedge funds also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC purchased a new position in Brookfield Asset Management during the third quarter worth about $27,000. Truvestments Capital LLC boosted its stake in Brookfield Asset Management by 487.2% during the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock worth $27,000 after buying an additional 419 shares during the period. Versant Capital Management Inc boosted its stake in shares of Brookfield Asset Management by 1,606.3% in the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 771 shares during the period. Continuum Advisory LLC boosted its stake in shares of Brookfield Asset Management by 42.2% in the third quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 329 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Brookfield Asset Management by 35.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 319 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. HSBC raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Wells Fargo & Company lowered their price objective on shares of Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating for the company in a research note on Thursday, February 13th. CIBC raised their price objective on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. The Goldman Sachs Group raised their price objective on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, StockNews.com lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $56.71.

Brookfield Asset Management Trading Up 2.8 %

Shares of NYSE:BAM opened at $46.89 on Friday. The company has a market capitalization of $20.78 billion, a PE ratio of 35.52, a P/E/G ratio of 1.92 and a beta of 1.50. Brookfield Asset Management Ltd. has a twelve month low of $37.29 and a twelve month high of $62.61. The firm has a 50 day simple moving average of $55.73 and a 200-day simple moving average of $52.91.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share 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 predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be given a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Friday, February 28th. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s payout ratio is currently 132.58%.

Brookfield Asset Management 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.