Brookfield Asset Management Ltd. (NYSE:BAM) Stock Holdings Increased by Summitry LLC

Summitry LLC boosted its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 127,022 shares of the financial services provider’s stock after acquiring an additional 1,961 shares during the period. Summitry LLC’s holdings in Brookfield Asset Management were worth $6,883,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in shares of Brookfield Asset Management by 11.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock valued at $77,293,000 after acquiring an additional 168,170 shares in the last quarter. Laffer Tengler Investments Inc. grew its stake in Brookfield Asset Management by 24.2% in the fourth quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider’s stock valued at $8,008,000 after purchasing an additional 28,768 shares in the last quarter. Plato Investment Management Ltd increased its position in Brookfield Asset Management by 173.7% in the 4th quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider’s stock worth $564,000 after purchasing an additional 6,580 shares during the last quarter. Tacita Capital Inc raised its stake in shares of Brookfield Asset Management by 19.3% during the 4th quarter. Tacita Capital Inc now owns 47,767 shares of the financial services provider’s stock worth $2,585,000 after purchasing an additional 7,743 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of 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 valued at $216,507,000 after buying an additional 2,031,995 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 0.6 %

Shares of BAM stock opened at $51.74 on Wednesday. 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 $22.93 billion, a P/E ratio of 39.20, a P/E/G ratio of 1.92 and a beta of 1.50. The stock has a 50 day moving average of $55.15 and a two-hundred day moving average of $53.51.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, topping 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%. 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 firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be given a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 3.38%. The ex-dividend date is Friday, February 28th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio is 132.58%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. BMO Capital Markets raised their price objective on shares of 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. Hsbc Global Res raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 14th. StockNews.com raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Thursday, March 20th. Scotiabank reduced their price target on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Finally, TD Securities raised their price objective on 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 investment 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.38.

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.