Verdence Capital Advisors LLC Takes Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Verdence Capital Advisors LLC bought a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,764 shares of the financial services provider’s stock, valued at approximately $204,000.

Other institutional investors have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. boosted its position in Brookfield Asset Management by 66.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock worth $92,896,000 after purchasing an additional 784,250 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in shares of Brookfield Asset Management during the 3rd quarter worth about $19,075,000. CIBC Asset Management Inc boosted its holdings 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 buying an additional 370,383 shares during the period. Proficio Capital Partners LLC boosted its holdings in shares of Brookfield Asset Management by 5,331.6% during the 4th quarter. Proficio Capital Partners LLC now owns 351,205 shares of the financial services provider’s stock worth $19,032,000 after buying an additional 344,739 shares during the period. Finally, Bamco Inc. NY grew its stake in Brookfield Asset Management by 31.5% in the 3rd quarter. Bamco Inc. NY now owns 1,100,435 shares of the financial services provider’s stock valued at $52,040,000 after buying an additional 263,532 shares during the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Down 3.1 %

BAM stock opened at $48.75 on Friday. The company has a market cap of $21.60 billion, a PE ratio of 36.93, a price-to-earnings-growth ratio of 1.92 and a beta of 1.46. Brookfield Asset Management Ltd. has a 52 week low of $37.29 and a 52 week high of $62.61. The business has a 50-day simple moving average of $56.50 and a 200 day simple moving average of $52.70.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its 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 net margin of 54.47% and a return on equity of 81.16%. On average, analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a dividend of $0.4375 per share. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 annualized dividend and a yield of 3.59%. Brookfield Asset Management’s dividend payout ratio is presently 132.58%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. UBS Group assumed coverage on Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating for the company. Hsbc Global Res upgraded Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. Finally, HSBC raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.