K.J. Harrison & Partners Inc Grows Position in Brookfield Asset Management Ltd. (NYSE:BAM)

K.J. Harrison & Partners Inc grew its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 15.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,622 shares of the financial services provider’s stock after acquiring an additional 1,300 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Brookfield Asset Management were worth $523,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BAM. Hara Capital LLC acquired a new position in Brookfield Asset Management in the 3rd quarter valued at $27,000. RPg Family Wealth Advisory LLC acquired a new position in Brookfield Asset Management in the third quarter valued at $27,000. Versant Capital Management Inc lifted its position in Brookfield Asset Management by 1,606.3% during the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock worth $44,000 after buying an additional 771 shares during the period. Continuum Advisory LLC boosted its stake in Brookfield Asset Management by 42.2% in the 3rd 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 during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position 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 worth $66,000 after acquiring an additional 319 shares during the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Performance

BAM stock opened at $56.24 on Friday. Brookfield Asset Management Ltd. has a 1 year low of $37.29 and a 1 year high of $62.61. The stock has a market capitalization of $24.92 billion, a price-to-earnings ratio of 42.61, a PEG ratio of 1.92 and a beta of 1.46. The stock’s fifty day moving average is $56.75 and its two-hundred day moving average is $52.18.

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, beating 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, analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be issued a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Friday, February 28th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s payout ratio is 115.15%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BAM shares. Wells Fargo & Company reduced their target price on Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating on the stock in a report on Thursday, February 13th. BMO Capital Markets raised their price target on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a report on Thursday, February 13th. Royal Bank of Canada lifted their price objective on Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. UBS Group started coverage on shares of Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating on the stock. Finally, StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $56.71.

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.