FIL Ltd Buys 574,978 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

FIL Ltd lifted its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,369,816 shares of the financial services provider’s stock after purchasing an additional 574,978 shares during the period. Brookfield Asset Management accounts for 0.8% of FIL Ltd’s portfolio, making the stock its 26th largest position. FIL Ltd owned 3.47% of Brookfield Asset Management worth $833,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Brookfield Asset Management in the 4th quarter valued at $287,361,000. William Blair Investment Management LLC acquired a new stake in Brookfield Asset Management in the fourth quarter worth about $204,169,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Brookfield Asset Management by 103.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider’s stock worth $216,507,000 after purchasing an additional 2,031,995 shares during the period. Madison Investment Advisors LLC bought a new stake in Brookfield Asset Management during the 4th quarter worth about $94,122,000. Finally, TD Asset Management Inc. lifted its position in Brookfield Asset Management by 8.9% during the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock valued at $903,323,000 after purchasing an additional 1,359,126 shares during the period. Institutional investors own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Hsbc Global Res upgraded shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. BMO Capital Markets lifted their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a report on Thursday, February 13th. UBS Group assumed coverage on Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating on the stock. Scotiabank reduced their price target on Brookfield Asset Management from $62.50 to $58.00 and set a “sector outperform” rating on the stock in a research report on Monday. Finally, TD Securities upped their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a report on Monday, February 10th. Three investment 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, the stock currently has a consensus rating of “Hold” and a consensus target price of $57.67.

Brookfield Asset Management Stock Performance

NYSE BAM opened at $43.39 on Tuesday. Brookfield Asset Management Ltd. has a 52-week low of $37.29 and a 52-week high of $62.61. The business has a 50 day simple moving average of $53.57 and a 200 day simple moving average of $53.72. The stock has a market cap of $71.04 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 1.92 and a beta of 1.63.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 EPS 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, analysts predict 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 was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were given a dividend of $0.4375 per share. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 annualized dividend and a dividend yield of 4.03%. The ex-dividend date was Friday, February 28th. Brookfield Asset Management’s dividend payout ratio is currently 132.58%.

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.