Alberta Investment Management Corp Has $68.30 Million Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Alberta Investment Management Corp grew its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 10.6% during the fourth quarter, Holdings Channel reports. The firm owned 1,259,943 shares of the financial services provider’s stock after acquiring an additional 121,067 shares during the quarter. Alberta Investment Management Corp’s holdings in Brookfield Asset Management were worth $68,297,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Tandem Capital Management Corp ADV lifted its stake in shares of Brookfield Asset Management by 0.4% in the 4th quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider’s stock valued at $2,119,000 after purchasing an additional 175 shares during the period. Public Sector Pension Investment Board lifted its stake in shares of Brookfield Asset Management by 0.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider’s stock valued at $2,201,000 after purchasing an additional 188 shares during the period. Procyon Advisors LLC increased its position in Brookfield Asset Management by 2.7% in the 4th quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider’s stock valued at $505,000 after buying an additional 249 shares in the last quarter. Pathstone Holdings LLC increased its position in Brookfield Asset Management by 1.0% in the 3rd quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock valued at $1,379,000 after buying an additional 278 shares in the last quarter. Finally, Foundations Investment Advisors LLC increased its position in Brookfield Asset Management by 5.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 6,654 shares of the financial services provider’s stock valued at $315,000 after buying an additional 315 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BAM shares. TD Securities boosted their target price on Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Hsbc Global Res raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. CIBC boosted their target price on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research 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 report on Thursday, February 13th. Finally, Scotiabank decreased their price objective on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a report on Thursday, February 13th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.71.

Brookfield Asset Management Stock Up 1.6 %

BAM stock opened at $60.76 on Wednesday. The firm has a market cap of $26.93 billion, a PE ratio of 53.77, a P/E/G ratio of 2.18 and a beta of 1.46. The business has a 50 day moving average of $56.57 and a 200-day moving average of $51.43. Brookfield Asset Management Ltd. has a 12-month low of $37.29 and a 12-month high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data 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%. On average, research analysts expect that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be paid a $0.4375 dividend. This is an increase 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 2.88%. Brookfield Asset Management’s dividend payout ratio is presently 134.51%.

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.