JCIC Asset Management Inc. Boosts Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

JCIC Asset Management Inc. grew its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,179 shares of the financial services provider’s stock after buying an additional 1,159 shares during the quarter. Brookfield Asset Management accounts for about 1.8% of JCIC Asset Management Inc.’s investment portfolio, making the stock its 18th largest holding. JCIC Asset Management Inc.’s holdings in Brookfield Asset Management were worth $4,562,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Acadian Asset Management LLC boosted its holdings in shares of Brookfield Asset Management by 5,033.8% in the 2nd quarter. Acadian Asset Management LLC now owns 7,136 shares of the financial services provider’s stock valued at $270,000 after buying an additional 6,997 shares during the period. Choreo LLC bought a new position in shares of Brookfield Asset Management during the second quarter valued at approximately $239,000. Qsemble Capital Management LP acquired a new stake in shares of Brookfield Asset Management during the 2nd quarter worth approximately $340,000. DekaBank Deutsche Girozentrale lifted its holdings in shares of Brookfield Asset Management by 34.7% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 89,808 shares of the financial services provider’s stock worth $3,315,000 after purchasing an additional 23,143 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in Brookfield Asset Management by 48.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 27,921 shares of the financial services provider’s stock valued at $1,062,000 after purchasing an additional 9,175 shares during the period. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Down 0.8 %

Shares of Brookfield Asset Management stock traded down $0.43 during trading on Monday, hitting $51.64. The stock had a trading volume of 697,752 shares, compared to its average volume of 1,001,370. The company has a market capitalization of $22.88 billion, a PE ratio of 45.70, a P/E/G 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. The stock has a 50 day simple moving average of $56.02 and a 200 day simple moving average of $48.18.

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

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were paid a $0.38 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.52 annualized dividend and a yield of 2.94%. Brookfield Asset Management’s dividend payout ratio is presently 134.51%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BAM shares. The Goldman Sachs Group raised their target price on Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. TD Securities raised their price target on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Wells Fargo & Company increased their price objective on Brookfield Asset Management from $51.00 to $56.00 and gave the stock an “underweight” rating in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft lifted their target price on Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Keefe, Bruyette & Woods decreased their price target on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Brookfield Asset Management has an average rating of “Hold” and a consensus target price of $54.46.

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.