FNY Investment Advisers LLC Acquires Shares of 3,600 Brookfield Asset Management Ltd. (NYSE:BAM)

FNY Investment Advisers LLC bought a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,600 shares of the financial services provider’s stock, valued at approximately $195,000.

A number of other institutional investors also recently modified their holdings of the business. Mackenzie Financial Corp increased its position in Brookfield Asset Management by 19.5% during the second quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock worth $514,867,000 after acquiring an additional 2,205,040 shares during the period. Bank of Montreal Can increased its holdings in shares of Brookfield Asset Management by 0.5% during the third quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider’s stock worth $435,729,000 after purchasing an additional 43,134 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Brookfield Asset Management by 0.3% during the third quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock worth $419,400,000 after purchasing an additional 24,409 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Brookfield Asset Management by 68.5% in the second quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock valued at $260,770,000 after buying an additional 2,788,611 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of Brookfield Asset Management by 10.3% in the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock valued at $188,057,000 after buying an additional 370,383 shares during the period. Institutional investors own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BAM shares. UBS Group started coverage on Brookfield Asset Management in a research note on Monday, December 16th. They set a “buy” rating on the stock. Keefe, Bruyette & Woods decreased their price target on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research report on Monday. TD Securities boosted their price target on Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group increased 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 note on Tuesday, November 19th. Finally, Wells Fargo & Company dropped their target price on shares of Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating for the company in a research report on Tuesday. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Brookfield Asset Management has a consensus rating of “Hold” and an average target price of $54.38.

Brookfield Asset Management Trading Up 2.0 %

Shares of Brookfield Asset Management stock opened at $52.98 on Wednesday. The firm’s 50 day moving average is $55.91 and its 200 day moving average is $48.38. The firm has a market capitalization of $23.47 billion, a PE ratio of 46.89, a price-to-earnings-growth ratio of 2.43 and a beta of 1.45. Brookfield Asset Management Ltd. has a 1 year low of $37.19 and a 1 year high of $59.58.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the firm posted $0.35 earnings per share. As a group, research analysts anticipate that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were issued a $0.38 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a yield of 2.87%. Brookfield Asset Management’s payout ratio is presently 134.51%.

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.