Madison Investment Advisors LLC Invests $94.12 Million in Brookfield Asset Management Ltd. (NYSE:BAM)

Madison Investment Advisors LLC bought a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,736,887 shares of the financial services provider’s stock, valued at approximately $94,122,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of Montreal Can raised its position in Brookfield Asset Management by 0.5% in the third quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider’s stock valued at $435,729,000 after purchasing an additional 43,134 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Brookfield Asset Management by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 8,930,366 shares of the financial services provider’s stock valued at $483,963,000 after buying an additional 62,908 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position 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 in the last quarter. CIBC Asset Management Inc lifted its position in Brookfield Asset Management by 10.3% during the 3rd quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock worth $188,057,000 after acquiring an additional 370,383 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC boosted its holdings in Brookfield Asset Management by 3.9% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 2,670,488 shares of the financial services provider’s stock worth $126,287,000 after acquiring an additional 99,020 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. HSBC upgraded shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Wells Fargo & Company reduced their price objective on Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating on the stock in a research note on Thursday, February 13th. The Goldman Sachs Group boosted their target price on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. UBS Group initiated coverage on shares of Brookfield Asset Management in a research report on Monday, December 16th. They issued a “buy” rating on the stock. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research report on Monday, January 13th. 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.com, Brookfield Asset Management presently has an average rating of “Hold” and an average target price of $56.71.

Brookfield Asset Management Trading Up 1.7 %

Shares of Brookfield Asset Management stock opened at $47.48 on Thursday. Brookfield Asset Management Ltd. has a 1 year low of $37.29 and a 1 year high of $62.61. The stock has a 50-day moving average price of $56.06 and a 200 day moving average price of $52.93. The company has a market cap of $21.04 billion, a P/E ratio of 35.97, a P/E/G ratio of 1.92 and a beta of 1.50.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates 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, equities analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be given a $0.4375 dividend. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 annualized dividend and a yield of 3.69%. 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.