Royal London Asset Management Ltd. Has $7.88 Million Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Royal London Asset Management Ltd. increased its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 145,449 shares of the financial services provider’s stock after acquiring an additional 675 shares during the period. Royal London Asset Management Ltd.’s holdings in Brookfield Asset Management were worth $7,882,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BAM. William Blair Investment Management LLC bought a new stake in shares of Brookfield Asset Management during the fourth quarter worth $204,169,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Brookfield Asset Management by 103.4% during 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 acquiring an additional 2,031,995 shares during the last quarter. Madison Investment Advisors LLC acquired a new stake in Brookfield Asset Management in the 4th quarter valued at about $94,122,000. Proficio Capital Partners LLC raised its stake in shares of 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 worth $19,032,000 after acquiring an additional 344,739 shares during the last quarter. Finally, Bamco Inc. NY lifted its position in shares of Brookfield Asset Management by 31.5% during the third quarter. Bamco Inc. NY now owns 1,100,435 shares of the financial services provider’s stock worth $52,040,000 after purchasing an additional 263,532 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Keefe, Bruyette & Woods decreased their price objective on 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. CIBC boosted their price objective on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. BMO Capital Markets boosted their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research note on Thursday, February 13th. UBS Group started coverage on shares of Brookfield Asset Management in a research report on Monday, December 16th. They set a “buy” rating for the company. Finally, Wells Fargo & Company decreased their price objective on Brookfield Asset Management from $54.00 to $50.00 and set an “underweight” rating for the company in a report on Thursday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.38.

Brookfield Asset Management Stock Performance

NYSE BAM opened at $49.52 on Monday. Brookfield Asset Management Ltd. has a 52-week low of $37.29 and a 52-week high of $62.61. The stock has a market cap of $21.94 billion, a PE ratio of 37.52, a P/E/G ratio of 1.92 and a beta of 1.50. The firm has a 50-day moving average of $55.18 and a 200-day moving average of $53.36.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be given a dividend of $0.4375 per share. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, February 28th. This represents a $1.75 annualized dividend and a yield of 3.53%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 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.