Brookfield Asset Management Ltd. (NYSE:BAM) Shares Bought by Summitry LLC

Summitry LLC lifted its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 127,022 shares of the financial services provider’s stock after purchasing an additional 1,961 shares during the quarter. Summitry LLC’s holdings in Brookfield Asset Management were worth $6,883,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC lifted its stake in Brookfield Asset Management by 11.6% in the third quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock valued at $77,293,000 after buying an additional 168,170 shares during the last quarter. Laffer Tengler Investments Inc. increased its holdings in shares of Brookfield Asset Management by 24.2% in the 4th quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider’s stock worth $8,008,000 after acquiring an additional 28,768 shares during the period. Plato Investment Management Ltd lifted its position in Brookfield Asset Management by 173.7% in the 4th quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider’s stock valued at $564,000 after purchasing an additional 6,580 shares during the last quarter. Tacita Capital Inc boosted its stake in Brookfield Asset Management by 19.3% during the 4th quarter. Tacita Capital Inc now owns 47,767 shares of the financial services provider’s stock valued at $2,585,000 after purchasing an additional 7,743 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Brookfield Asset Management by 103.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider’s stock worth $216,507,000 after purchasing an additional 2,031,995 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BAM. Wells Fargo & Company reduced their price objective on Brookfield Asset Management from $54.00 to $50.00 and set an “underweight” rating for the company in a research report on Thursday, March 20th. BMO Capital Markets increased their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research note on Thursday, February 13th. TD Securities lifted their price objective on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, February 10th. CIBC increased their target price on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of 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. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.38.

Brookfield Asset Management Stock Up 0.6 %

Shares of NYSE BAM opened at $51.74 on Wednesday. Brookfield Asset Management Ltd. has a 12 month low of $37.29 and a 12 month high of $62.61. The company has a market cap of $22.93 billion, a price-to-earnings ratio of 39.20, a P/E/G ratio of 1.92 and a beta of 1.50. The business has a fifty day simple moving average of $55.15 and a 200-day simple moving average of $53.51.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates 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, sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a dividend of $0.4375 per share. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Asset Management’s payout ratio is 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.