HighTower Advisors LLC Buys 3,193 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

HighTower Advisors LLC boosted its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 137,945 shares of the financial services provider’s stock after acquiring an additional 3,193 shares during the quarter. 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).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Tandem Capital Management Corp ADV boosted its stake in shares of Brookfield Asset Management by 0.4% during the fourth quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider’s stock valued at $2,119,000 after purchasing an additional 175 shares during the period. Public Sector Pension Investment Board boosted its position in Brookfield Asset Management by 0.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider’s stock valued at $2,201,000 after buying an additional 188 shares during the period. Procyon Advisors LLC grew its holdings in Brookfield Asset Management by 2.7% in the 4th quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider’s stock worth $505,000 after acquiring an additional 249 shares during the last quarter. Pathstone Holdings LLC increased its position in shares of Brookfield Asset Management by 1.0% in the third quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock valued at $1,379,000 after acquiring an additional 278 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Brookfield Asset Management by 35.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 319 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Trading Up 1.2 %

Brookfield Asset Management stock opened at $48.51 on Wednesday. The firm has a 50 day moving average of $55.48 and a 200 day moving average of $53.18. Brookfield Asset Management Ltd. has a 12-month low of $37.29 and a 12-month high of $62.61. The firm has a market capitalization of $21.50 billion, a price-to-earnings 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 (EPS) for the quarter, topping 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%. On average, analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be given a $0.4375 dividend. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 132.58%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BAM. CIBC boosted their price target on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. HSBC upgraded Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Scotiabank cut 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 report on Thursday, February 13th. Hsbc Global Res upgraded shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. Finally, The Goldman Sachs Group lifted their target price on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $56.71.

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.