Bridges Investment Management Inc. Has $674,000 Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Bridges Investment Management Inc. boosted its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 57.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,439 shares of the financial services provider’s stock after purchasing an additional 4,560 shares during the period. Bridges Investment Management Inc.’s holdings in Brookfield Asset Management were worth $674,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Hara Capital LLC bought a new stake in Brookfield Asset Management during the third quarter valued at $27,000. RPg Family Wealth Advisory LLC bought a new stake in Brookfield Asset Management during the third quarter valued at $27,000. Versant Capital Management Inc boosted its position in 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 acquiring an additional 771 shares during the last quarter. Continuum Advisory LLC boosted its position 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 valued at $52,000 after acquiring an additional 329 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in 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 acquiring an additional 319 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Price Performance

BAM opened at $56.32 on Monday. Brookfield Asset Management Ltd. has a fifty-two week low of $37.29 and a fifty-two week high of $62.61. The firm has a market capitalization of $24.96 billion, a PE ratio of 42.67, a P/E/G ratio of 1.92 and a beta of 1.46. The company’s 50-day moving average is $56.79 and its 200 day moving average is $52.47.

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 net margin of 54.47% and a return on equity of 81.16%. As a group, analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS 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. Shareholders of record on Friday, February 28th will be paid a $0.4375 dividend. This is a positive change 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 3.11%. Brookfield Asset Management’s dividend payout ratio (DPR) is 132.58%.

Analyst Ratings Changes

A number of research firms have recently issued reports on BAM. Hsbc Global Res raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. BMO Capital Markets increased their price objective on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research report on Thursday, February 13th. Wells Fargo & Company cut their price objective on shares of Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating on the stock in a research report on Thursday, February 13th. TD Securities increased their price objective on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Finally, CIBC increased their price objective on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Brookfield Asset Management presently has a consensus rating of “Hold” and an average target price of $56.71.

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.