Diversify Wealth Management LLC Grows Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Diversify Wealth Management LLC raised its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 14.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,193 shares of the financial services provider’s stock after purchasing an additional 2,222 shares during the period. Diversify Wealth Management LLC’s holdings in Brookfield Asset Management were worth $895,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC grew its position in shares of Brookfield Asset Management by 11.6% in 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 buying an additional 168,170 shares during the last quarter. Avior Wealth Management LLC raised its position in Brookfield Asset Management by 2,857.1% during the 3rd quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock worth $489,000 after buying an additional 10,000 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Brookfield Asset Management by 5.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 834,929 shares of the financial services provider’s stock worth $39,516,000 after buying an additional 45,670 shares in the last quarter. LGT Capital Partners LTD. lifted its holdings in shares of Brookfield Asset Management by 11.5% in the 3rd quarter. LGT Capital Partners LTD. now owns 534,000 shares of the financial services provider’s stock valued at $25,273,000 after buying an additional 55,000 shares during the period. Finally, CIBC Asset Management Inc boosted its position in shares of Brookfield Asset Management by 10.3% during the 3rd quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock worth $188,057,000 after purchasing an additional 370,383 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 0.9 %

Brookfield Asset Management stock opened at $55.56 on Tuesday. Brookfield Asset Management Ltd. has a 52 week low of $37.29 and a 52 week high of $59.58. The stock has a market cap of $24.62 billion, a P/E ratio of 49.17, a price-to-earnings-growth ratio of 1.75 and a beta of 1.45. The stock has a 50 day moving average of $55.82 and a 200-day moving average of $48.74.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same quarter in the prior year, the business posted $0.35 EPS. As a group, equities analysts predict that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

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

Analyst Ratings Changes

BAM has been the subject of several research analyst reports. UBS Group started coverage on Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating for the company. TD Securities raised their target price on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. BMO Capital Markets increased their target price on Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. StockNews.com lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Thursday, January 9th. Finally, Royal Bank of Canada raised their price objective on Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $54.38.

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.