Aigen Investment Management LP Has $218,000 Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Aigen Investment Management LP lowered its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 85.8% in the 4th quarter, HoldingsChannel reports. The firm owned 4,025 shares of the financial services provider’s stock after selling 24,230 shares during the period. Aigen Investment Management LP’s holdings in Brookfield Asset Management were worth $218,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Brookfield Asset Management by 66.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock worth $92,896,000 after buying an additional 784,250 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in Brookfield Asset Management during the third quarter worth $19,075,000. CIBC Asset Management Inc grew its holdings in Brookfield Asset Management by 10.3% in the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock worth $188,057,000 after purchasing an additional 370,383 shares during the period. Proficio Capital Partners LLC increased its stake in Brookfield Asset Management by 5,331.6% in the fourth quarter. Proficio Capital Partners LLC now owns 351,205 shares of the financial services provider’s stock valued at $19,032,000 after purchasing an additional 344,739 shares in the last quarter. Finally, Bamco Inc. NY increased its stake in Brookfield Asset Management by 31.5% in the third quarter. Bamco Inc. NY now owns 1,100,435 shares of the financial services provider’s stock valued at $52,040,000 after purchasing an additional 263,532 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BAM. Deutsche Bank Aktiengesellschaft raised their target price on Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Monday, November 11th. UBS Group assumed coverage on Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating for the company. The Goldman Sachs Group upped their target price on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. TD Securities lifted their price target on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Finally, Scotiabank lowered their price objective on shares of Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Asset Management presently has an average rating of “Hold” and a consensus target price of $56.71.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $48.75 on Monday. The company has a market capitalization of $21.60 billion, a price-to-earnings ratio of 36.93, a PEG ratio of 1.92 and a beta of 1.50. The company has a 50-day simple moving average of $56.50 and a two-hundred day simple moving average of $52.88. Brookfield Asset Management Ltd. has a 52-week low of $37.29 and a 52-week high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results 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%. On average, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be paid a $0.4375 dividend. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Asset Management’s payout ratio is currently 132.58%.

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.