Brookfield Asset Management Ltd. (NYSE:BAM) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC lifted its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 137,945 shares of the financial services provider’s stock after acquiring an additional 3,193 shares during the period. HighTower Advisors LLC’s holdings in Brookfield Asset Management were worth $7,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the business. RPg Family Wealth Advisory LLC acquired a new stake in shares of Brookfield Asset Management in the third quarter valued at approximately $27,000. Versant Capital Management Inc boosted its holdings in Brookfield Asset Management by 1,606.3% during the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 771 shares during the period. Continuum Advisory LLC grew its holdings in shares of Brookfield Asset Management by 42.2% in the third quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 329 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Brookfield Asset Management by 35.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 319 shares in the last quarter. Finally, Global Retirement Partners LLC grew its stake in Brookfield Asset Management by 170.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,406 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 887 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 1.2 %

Shares of BAM opened at $48.51 on Wednesday. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $62.61. The business’s 50-day moving average price is $55.48 and its 200 day moving average price is $53.18. The stock has a market capitalization of $21.50 billion, a P/E ratio of 36.75, a P/E/G ratio of 1.92 and a beta of 1.50.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates 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, 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 disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a $0.4375 dividend. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.61%. Brookfield Asset Management’s payout ratio is presently 132.58%.

Analyst Ratings Changes

Several research analysts have commented on BAM shares. Scotiabank lowered their price target on shares of Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a report on Thursday, February 13th. BMO Capital Markets lifted their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research report on Thursday, February 13th. StockNews.com lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. Hsbc Global Res raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. Finally, TD Securities increased their target price on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Brookfield Asset Management has an average rating of “Hold” and a consensus target price of $56.71.

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.