Brookfield Asset Management Ltd. (NYSE:BAM) Shares Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC boosted its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5,331.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 351,205 shares of the financial services provider’s stock after buying an additional 344,739 shares during the quarter. Proficio Capital Partners LLC’s holdings in Brookfield Asset Management were worth $19,032,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. acquired a new position in shares of Brookfield Asset Management during the 4th quarter worth $209,000. Kovack Advisors Inc. increased its holdings in Brookfield Asset Management by 13.1% during the 4th quarter. Kovack Advisors Inc. now owns 7,972 shares of the financial services provider’s stock valued at $432,000 after acquiring an additional 926 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in Brookfield Asset Management by 2.2% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 140,800 shares of the financial services provider’s stock valued at $7,632,000 after acquiring an additional 3,000 shares in the last quarter. K.J. Harrison & Partners Inc raised its position in Brookfield Asset Management by 15.6% during the fourth quarter. K.J. Harrison & Partners Inc now owns 9,622 shares of the financial services provider’s stock worth $523,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Denali Advisors LLC purchased a new stake in shares of Brookfield Asset Management in the fourth quarter valued at about $341,000. 68.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BAM has been the subject of a number of recent research reports. CIBC raised their price objective on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Wells Fargo & Company dropped their price target on Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating for the company in a research report on Thursday, February 13th. Royal Bank of Canada boosted their price target on Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Hsbc Global Res raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 14th. Finally, HSBC raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $56.71.

Brookfield Asset Management Price Performance

NYSE BAM opened at $56.32 on Friday. The company has a market cap of $24.96 billion, a P/E ratio of 42.67, a P/E/G ratio of 1.92 and a beta of 1.46. Brookfield Asset Management Ltd. has a 12 month low of $37.29 and a 12 month high of $62.61. The company has a 50-day moving average of $56.79 and a 200-day moving average of $52.39.

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

Brookfield Asset Management Increases Dividend

The company also recently disclosed 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%. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, February 28th. Brookfield Asset Management’s dividend payout ratio is presently 132.58%.

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.