Thurston Springer Miller Herd & Titak Inc. Boosts Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Thurston Springer Miller Herd & Titak Inc. lifted its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 35.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,227 shares of the financial services provider’s stock after buying an additional 319 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Brookfield Asset Management were worth $66,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of BAM. Public Sector Pension Investment Board increased its holdings in Brookfield Asset Management by 0.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider’s stock worth $2,201,000 after acquiring an additional 188 shares during the period. Pathstone Holdings LLC grew its position in shares of Brookfield Asset Management by 1.0% during the 3rd quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock valued at $1,379,000 after purchasing an additional 278 shares in the last quarter. Foundations Investment Advisors LLC increased its holdings in shares of Brookfield Asset Management by 5.0% in the third quarter. Foundations Investment Advisors LLC now owns 6,654 shares of the financial services provider’s stock worth $315,000 after purchasing an additional 315 shares during the period. Continuum Advisory LLC raised its position 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 worth $52,000 after buying an additional 329 shares in the last quarter. Finally, Procyon Advisors LLC boosted its stake in Brookfield Asset Management by 4.2% during the third quarter. Procyon Advisors LLC now owns 9,063 shares of the financial services provider’s stock valued at $429,000 after buying an additional 366 shares during the period. 68.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BAM. Keefe, Bruyette & Woods decreased their target price on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research note on Monday, January 13th. Scotiabank upped their price objective on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a research report on Tuesday, November 5th. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. Wells Fargo & Company cut their price target on shares of Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating for the company in a research note on Tuesday. Finally, Royal Bank of Canada raised their price objective on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $54.38.

Brookfield Asset Management Trading Up 0.9 %

BAM opened at $55.56 on Friday. Brookfield Asset Management Ltd. has a 12 month low of $37.29 and a 12 month high of $59.58. The business’s 50-day moving average price is $55.83 and its 200-day moving average price is $48.47. The company has a market cap of $24.62 billion, a P/E ratio of 49.17, a P/E/G ratio of 1.75 and a beta of 1.45.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the company earned $0.35 EPS. Equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a yield of 2.74%. Brookfield Asset Management’s dividend payout ratio is currently 134.51%.

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.