Teacher Retirement System of Texas Trims Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Teacher Retirement System of Texas trimmed its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 20.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 62,500 shares of the financial services provider’s stock after selling 16,500 shares during the quarter. Teacher Retirement System of Texas’ holdings in Brookfield Asset Management were worth $3,387,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BAM. Geode Capital Management LLC increased its position in shares of Brookfield Asset Management by 11.6% during the third 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 period. Laffer Tengler Investments Inc. grew its stake in Brookfield Asset Management by 24.2% during 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 acquiring an additional 28,768 shares in the last quarter. Plato Investment Management Ltd increased its holdings in Brookfield Asset Management by 173.7% during the 4th quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider’s stock worth $564,000 after acquiring an additional 6,580 shares during the period. Tacita Capital Inc lifted its stake in Brookfield Asset Management by 19.3% in 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. boosted its holdings in Brookfield Asset Management by 103.4% in 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 purchasing an additional 2,031,995 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Up 3.8 %

NYSE:BAM opened at $51.43 on Tuesday. The firm has a market capitalization of $22.79 billion, a P/E ratio of 38.96, a P/E/G ratio of 1.92 and a beta of 1.50. Brookfield Asset Management Ltd. has a 52 week low of $37.29 and a 52 week high of $62.61. The company has a fifty day moving average of $55.17 and a 200 day moving average of $53.44.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping 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, analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS 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. Investors 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 is Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a yield of 3.40%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 132.58%.

Analyst Upgrades and Downgrades

BAM has been the topic of several research analyst reports. CIBC upped their price target on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. TD Securities raised their price target on Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a report on Monday, February 10th. Scotiabank cut their price objective on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a report on Thursday, February 13th. UBS Group initiated coverage on shares of Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating on the stock. Finally, StockNews.com upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Thursday, March 20th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.38.

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.