Guardian Partners Inc. Takes Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Guardian Partners Inc. acquired a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 322,191 shares of the financial services provider’s stock, valued at approximately $17,940,000. Brookfield Asset Management makes up 1.8% of Guardian Partners Inc.’s holdings, making the stock its 13th biggest holding. Guardian Partners Inc. owned 0.07% of Brookfield Asset Management as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Tandem Capital Management Corp ADV increased its position in shares of Brookfield Asset Management by 0.4% in the fourth quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider’s stock valued at $2,119,000 after buying an additional 175 shares in the last quarter. Public Sector Pension Investment Board increased its position in shares of Brookfield Asset Management by 0.4% during the third quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider’s stock worth $2,201,000 after purchasing an additional 188 shares in the last quarter. Gold Investment Management Ltd. increased its position in shares of Brookfield Asset Management by 0.5% during the fourth quarter. Gold Investment Management Ltd. now owns 41,889 shares of the financial services provider’s stock worth $2,271,000 after purchasing an additional 219 shares in the last quarter. Procyon Advisors LLC increased its position in shares of Brookfield Asset Management by 2.7% during the fourth quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider’s stock worth $505,000 after purchasing an additional 249 shares in the last quarter. Finally, Pathstone Holdings LLC increased its position in shares of Brookfield Asset Management by 1.0% during the third quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock worth $1,379,000 after purchasing an additional 278 shares in the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BAM has been the subject of several research reports. TD Securities boosted their price target on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Wells Fargo & Company dropped their price target on Brookfield Asset Management from $54.00 to $50.00 and set an “underweight” rating for the company in a research report on Thursday. Keefe, Bruyette & Woods dropped their price target on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research report on Monday, January 13th. HSBC upgraded Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Finally, StockNews.com raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $56.38.

Brookfield Asset Management Stock Up 0.3 %

Shares of Brookfield Asset Management stock opened at $49.52 on Friday. Brookfield Asset Management Ltd. has a 52 week low of $37.29 and a 52 week high of $62.61. The business’s fifty day simple moving average is $55.18 and its 200-day simple moving average is $53.27. The firm has a market cap of $21.94 billion, a PE ratio of 37.52, a price-to-earnings-growth ratio of 1.92 and a beta of 1.50.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results 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 81.16% and a net margin of 54.47%. As a group, equities analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently declared 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 represents a $1.75 annualized dividend and a dividend yield of 3.53%. 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%.

Brookfield Asset Management 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.