Corient Private Wealth LLC Purchases 9,806 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Corient Private Wealth LLC boosted its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,174,640 shares of the financial services provider’s stock after acquiring an additional 9,806 shares during the period. Corient Private Wealth LLC’s holdings in Brookfield Asset Management were worth $63,654,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of Brookfield Asset Management by 11.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock worth $77,293,000 after purchasing an additional 168,170 shares in the last quarter. Laffer Tengler Investments Inc. lifted its stake in shares of Brookfield Asset Management by 24.2% in 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 buying an additional 28,768 shares in the last quarter. Avior Wealth Management LLC grew its holdings in shares of Brookfield Asset Management by 2,857.1% during the third quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock valued at $489,000 after buying an additional 10,000 shares during the last quarter. Plato Investment Management Ltd increased its position in shares of Brookfield Asset Management by 173.7% during the fourth 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 in the last quarter. Finally, Tacita Capital Inc increased its position in shares of Brookfield Asset Management by 19.3% during the fourth quarter. Tacita Capital Inc now owns 47,767 shares of the financial services provider’s stock worth $2,585,000 after acquiring an additional 7,743 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

BAM has been the subject of a number of analyst reports. Keefe, Bruyette & Woods cut 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, January 13th. StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Thursday, January 9th. CIBC increased their price target on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. TD Securities lifted their price objective on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Finally, UBS Group initiated coverage on shares of Brookfield Asset Management in a report on Monday, December 16th. They issued a “buy” rating for the company. Three research analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Brookfield Asset Management presently has an average rating of “Hold” and a consensus target price of $56.71.

Brookfield Asset Management Trading Up 2.8 %

NYSE:BAM opened at $46.89 on Monday. Brookfield Asset Management Ltd. has a 12 month low of $37.29 and a 12 month high of $62.61. The firm’s 50 day moving average is $55.73 and its 200 day moving average is $53.07. The stock has a market capitalization of $20.78 billion, a PE ratio of 35.52, a price-to-earnings-growth ratio of 1.92 and a beta of 1.50.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. Research analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share 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. Stockholders of record on Friday, February 28th will be given a $0.4375 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.75 annualized dividend and a dividend yield of 3.73%. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s payout ratio is 132.58%.

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.