Beck Mack & Oliver LLC Has $5.62 Million Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Beck Mack & Oliver LLC reduced its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 103,651 shares of the financial services provider’s stock after selling 1,157 shares during the quarter. Beck Mack & Oliver LLC’s holdings in Brookfield Asset Management were worth $5,617,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Brookfield Asset Management during the fourth quarter worth about $287,361,000. William Blair Investment Management LLC bought a new position in shares of Brookfield Asset Management during the fourth quarter worth approximately $204,169,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of 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 valued at $216,507,000 after buying an additional 2,031,995 shares in the last quarter. Madison Investment Advisors LLC bought a new stake in shares of Brookfield Asset Management in the fourth quarter valued at approximately $94,122,000. Finally, TD Asset Management Inc. grew its position in Brookfield Asset Management by 8.9% during the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock worth $903,323,000 after buying an additional 1,359,126 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BAM. Bank of America upgraded Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Thursday, April 10th. Scotiabank reduced their price objective on shares of Brookfield Asset Management from $62.50 to $58.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 7th. Keefe, Bruyette & Woods dropped their target price on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research report on Monday, January 13th. StockNews.com upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Wells Fargo & Company lowered their price objective on shares of Brookfield Asset Management from $50.00 to $48.00 and set an “underweight” rating for the company in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Brookfield Asset Management presently has an average rating of “Moderate Buy” and an average target price of $57.15.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock opened at $48.56 on Friday. The business has a 50 day moving average of $51.00 and a 200-day moving average of $53.58. Brookfield Asset Management Ltd. has a 1 year low of $37.29 and a 1 year high of $62.61. The company has a market capitalization of $79.51 billion, a P/E ratio of 36.79, a P/E/G ratio of 1.92 and a beta of 1.63.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping 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%. Equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio is currently 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.