Procyon Advisors LLC Buys 249 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Procyon Advisors LLC raised its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,312 shares of the financial services provider’s stock after acquiring an additional 249 shares during the period. Procyon Advisors LLC’s holdings in Brookfield Asset Management were worth $505,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ritholtz Wealth Management boosted its stake in Brookfield Asset Management by 166.9% in the 4th quarter. Ritholtz Wealth Management now owns 13,079 shares of the financial services provider’s stock valued at $709,000 after purchasing an additional 8,179 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of 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 valued at $66,000 after acquiring an additional 319 shares during the period. Park Avenue Securities LLC boosted its position in shares of Brookfield Asset Management by 4.4% in the fourth quarter. Park Avenue Securities LLC now owns 19,771 shares of the financial services provider’s stock valued at $1,072,000 after acquiring an additional 837 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Brookfield Asset Management in the fourth quarter valued at about $215,000. Finally, FNY Investment Advisers LLC bought a new position in Brookfield Asset Management during the fourth quarter worth about $195,000. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

BAM stock opened at $55.56 on Friday. The company has a 50 day simple moving average of $55.82 and a 200 day simple moving average of $48.59. The stock has a market cap of $24.62 billion, a price-to-earnings ratio of 49.17, a P/E/G ratio of 1.75 and a beta of 1.45. Brookfield Asset Management Ltd. has a 1 year low of $37.29 and a 1 year high of $59.58.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the company earned $0.35 EPS. On average, equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.45 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Friday, November 29th. Brookfield Asset Management’s dividend payout ratio is currently 134.51%.

Analysts Set New Price Targets

BAM has been the topic of a number of analyst reports. Wells Fargo & Company decreased their target price on shares of Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. Scotiabank raised their price objective on Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group lifted their price objective on Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target 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. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Brookfield Asset Management presently has an average rating of “Hold” and an average target price of $54.38.

Brookfield Asset Management 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.