Whittier Trust Co. grew its holdings in Brookfield Asset Management Ltd. (NYSE:BAM – Free Report) (TSE:BAM.A) by 7.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,647 shares of the financial services provider’s stock after purchasing an additional 1,489 shares during the period. Whittier Trust Co.’s holdings in Brookfield Asset Management were worth $829,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of BAM. American Century Companies Inc. raised its position in shares of Brookfield Asset Management by 0.7% in the first quarter. American Century Companies Inc. now owns 38,228 shares of the financial services provider’s stock valued at $2,161,000 after purchasing an additional 268 shares during the period. Dimensional Fund Advisors LP increased its holdings in Brookfield Asset Management by 3.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 537,451 shares of the financial services provider’s stock worth $30,404,000 after acquiring an additional 20,309 shares during the period. Canada Pension Plan Investment Board bought a new stake in Brookfield Asset Management during the 1st quarter worth approximately $22,369,000. Sequoia Financial Advisors LLC bought a new stake in Brookfield Asset Management during the 1st quarter worth approximately $340,000. Finally, Vanguard Group Inc. increased its holdings in Brookfield Asset Management by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 44,050,716 shares of the financial services provider’s stock worth $2,491,950,000 after acquiring an additional 1,220,298 shares during the period. Institutional investors own 61.92% of the company’s stock.
Brookfield Asset Management Stock Performance
Brookfield Asset Management stock opened at $42.35 on Friday. The firm’s fifty day moving average price is $40.63 and its 200-day moving average price is $36.70. The stock has a market cap of $17.50 billion, a P/E ratio of 37.48, a price-to-earnings-growth ratio of 1.55 and a beta of 1.69. Brookfield Asset Management Ltd. has a fifty-two week low of $28.35 and a fifty-two week high of $43.00.
Brookfield Asset Management (NYSE:BAM – Get Free Report) (TSE:BAM.A) last released its earnings results on Wednesday, February 7th. The financial services provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. Brookfield Asset Management had a net margin of 50.23% and a return on equity of 96.43%. The company had revenue of $1.13 billion for the quarter. During the same period in the prior year, the business posted $0.31 EPS. On average, analysts predict that Brookfield Asset Management Ltd. will post 1.56 earnings per share for the current year.
Brookfield Asset Management Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Thursday, February 29th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $1.52 annualized dividend and a dividend yield of 3.59%. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.32. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 134.51%.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on BAM shares. Scotiabank upped their target price on shares of Brookfield Asset Management from $46.50 to $47.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 8th. The Goldman Sachs Group decreased their target price on shares of Brookfield Asset Management from $50.92 to $41.00 and set a “buy” rating on the stock in a report on Thursday, November 30th. CIBC upped their target price on shares of Brookfield Asset Management from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. TD Securities decreased their target price on shares of Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating on the stock in a report on Tuesday, January 9th. Finally, HSBC cut shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Brookfield Asset Management has an average rating of “Moderate Buy” and an average target price of $42.20.
About Brookfield Asset Management
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.
See Also
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