Schroder Investment Management Group Acquires Shares of 164,734 Brookfield Asset Management Ltd. (NYSE:BAM)

Schroder Investment Management Group bought a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 164,734 shares of the financial services provider’s stock, valued at approximately $8,927,000.

Several other institutional investors and hedge funds have also made changes to their positions in BAM. Truvestments Capital LLC boosted its stake in shares of Brookfield Asset Management by 487.2% during the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock valued at $27,000 after buying an additional 419 shares during the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in shares of Brookfield Asset Management in the 4th quarter valued at about $32,000. Versant Capital Management Inc grew its position in shares of Brookfield Asset Management by 1,606.3% during the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after buying an additional 771 shares during the last quarter. Continuum Advisory LLC raised its stake in Brookfield Asset Management by 42.2% during the third quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 329 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Brookfield Asset Management by 35.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 319 shares during the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. HSBC upgraded Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Scotiabank dropped their target price on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. CIBC boosted their price target 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. Keefe, Bruyette & Woods dropped their price objective on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a report on Monday, January 13th. Finally, TD Securities boosted their target price on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.04.

Brookfield Asset Management Stock Down 6.0 %

Shares of BAM stock opened at $44.21 on Friday. The stock has a 50-day simple moving average of $53.89 and a 200 day simple moving average of $53.64. Brookfield Asset Management Ltd. has a fifty-two week low of $37.29 and a fifty-two week high of $62.61. The stock has a market capitalization of $72.39 billion, a P/E ratio of 33.49, a P/E/G ratio of 1.92 and a beta of 1.62.

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 earnings per share (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%. On average, sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were paid a dividend of $0.4375 per share. The ex-dividend date was Friday, February 28th. 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 dividend yield of 3.96%. Brookfield Asset Management’s dividend payout ratio (DPR) 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.