Whittier Trust Co. Grows Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Whittier Trust Co. boosted its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 44.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,153 shares of the financial services provider’s stock after purchasing an additional 11,081 shares during the period. Whittier Trust Co.’s holdings in Brookfield Asset Management were worth $1,959,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in BAM. Royal London Asset Management Ltd. raised its position in shares of Brookfield Asset Management by 0.5% in the 4th quarter. Royal London Asset Management Ltd. now owns 145,449 shares of the financial services provider’s stock worth $7,882,000 after buying an additional 675 shares during the period. Intech Investment Management LLC acquired a new stake in Brookfield Asset Management during the fourth quarter worth about $251,000. Tocqueville Asset Management L.P. raised its holdings in shares of Brookfield Asset Management by 1.3% in the 4th quarter. Tocqueville Asset Management L.P. now owns 235,787 shares of the financial services provider’s stock worth $12,777,000 after purchasing an additional 3,124 shares during the period. William Blair Investment Management LLC acquired a new position in shares of Brookfield Asset Management in the 4th quarter valued at about $204,169,000. Finally, Signaturefd LLC grew its holdings in shares of Brookfield Asset Management by 152.6% during the 4th quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock worth $124,000 after purchasing an additional 1,387 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Scotiabank reduced their price target on shares of Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. CIBC lifted their target price on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. TD Securities increased their price target on Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a report on Monday, February 10th. Keefe, Bruyette & Woods cut their price objective on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research report on Monday, January 13th. Finally, Wells Fargo & Company decreased their target price on Brookfield Asset Management from $54.00 to $50.00 and set an “underweight” rating for the company in a research report on Thursday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.38.

Brookfield Asset Management Price Performance

Shares of BAM stock opened at $49.52 on Friday. The firm has a market cap of $21.94 billion, a P/E ratio of 37.52, a P/E/G ratio of 1.92 and a beta of 1.50. The firm has a fifty day moving average of $55.18 and a two-hundred day moving average of $53.19. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. On average, sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be paid a dividend of $0.4375 per share. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 annualized dividend and a yield of 3.53%. Brookfield Asset Management’s dividend payout ratio (DPR) is 132.58%.

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.