Denali Advisors LLC Invests $341,000 in Brookfield Asset Management Ltd. (NYSE:BAM)

Denali Advisors LLC acquired a new position 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 SEC. The fund acquired 6,288 shares of the financial services provider’s stock, valued at approximately $341,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hara Capital LLC bought a new stake in shares of Brookfield Asset Management in the 3rd quarter worth $27,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Brookfield Asset Management during the third quarter valued at $27,000. Versant Capital Management Inc lifted its holdings in shares of Brookfield Asset Management by 1,606.3% during the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 771 shares during the last quarter. Continuum Advisory LLC lifted its holdings in shares of 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 valued at $52,000 after purchasing an additional 329 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Brookfield Asset Management by 35.1% during 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 purchasing an additional 319 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BAM. Deutsche Bank Aktiengesellschaft upped their target price on Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a report on Monday, November 11th. BMO Capital Markets upped their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a report on Thursday, February 13th. HSBC raised Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Friday, February 14th. StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. Finally, CIBC upped their target price on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $56.71.

Brookfield Asset Management Trading Down 2.1 %

Shares of BAM stock opened at $56.24 on Friday. The stock has a 50 day moving average of $56.75 and a two-hundred day moving average of $52.18. Brookfield Asset Management Ltd. has a 12 month low of $37.29 and a 12 month high of $62.61. The company has a market capitalization of $24.92 billion, a P/E ratio of 42.61, a P/E/G ratio of 1.92 and a beta of 1.46.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. Sell-side analysts predict 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. Stockholders of record on Friday, February 28th will be paid a $0.4375 dividend. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Asset Management’s dividend payout ratio (DPR) is 115.15%.

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.