Brookfield Asset Management Ltd. (NYSE:BAM) Holdings Increased by Blue Zone Wealth Advisors LLC

Blue Zone Wealth Advisors LLC lifted its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 152,107 shares of the financial services provider’s stock after buying an additional 2,038 shares during the quarter. Brookfield Asset Management makes up 2.4% of Blue Zone Wealth Advisors LLC’s holdings, making the stock its 7th largest position. Blue Zone Wealth Advisors LLC’s holdings in Brookfield Asset Management were worth $8,243,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of Brookfield Asset Management by 11.6% in the third quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock worth $77,293,000 after buying an additional 168,170 shares during the last quarter. Avior Wealth Management LLC boosted its position in Brookfield Asset Management by 2,857.1% during the third quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock worth $489,000 after purchasing an additional 10,000 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Brookfield Asset Management by 5.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 834,929 shares of the financial services provider’s stock worth $39,516,000 after purchasing an additional 45,670 shares in the last quarter. LGT Capital Partners LTD. boosted its position in Brookfield Asset Management by 11.5% during the third quarter. LGT Capital Partners LTD. now owns 534,000 shares of the financial services provider’s stock worth $25,273,000 after purchasing an additional 55,000 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in Brookfield Asset Management by 10.3% during 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 in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

NYSE:BAM opened at $59.86 on Friday. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $62.61. The stock has a market cap of $26.53 billion, a PE ratio of 52.98, a P/E/G ratio of 2.18 and a beta of 1.46. The stock has a 50 day moving average price of $56.45 and a 200 day moving average price of $51.06.

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 EPS for the quarter, beating the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. As a group, analysts predict that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid 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 of this dividend is Friday, February 28th. This represents a $1.75 annualized dividend and a yield of 2.92%. Brookfield Asset Management’s dividend payout ratio (DPR) is 134.51%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Scotiabank lowered their price target on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating on the stock in a research report on Thursday. Wells Fargo & Company lowered their price target on Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating on the stock in a research report on Thursday. HSBC upgraded Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday. Royal Bank of Canada increased their target price on Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, UBS Group began coverage on Brookfield Asset Management in a report on Monday, December 16th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $56.71.

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.