Broad Run Investment Management LLC Decreases Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Broad Run Investment Management LLC trimmed its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 12.0% during the 4th quarter, HoldingsChannel reports. The firm owned 470,687 shares of the financial services provider’s stock after selling 64,474 shares during the quarter. Brookfield Asset Management accounts for about 3.5% of Broad Run Investment Management LLC’s investment portfolio, making the stock its 14th largest holding. Broad Run Investment Management LLC’s holdings in Brookfield Asset Management were worth $25,507,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Bank of Montreal Can grew its holdings in shares of Brookfield Asset Management by 3.7% in the fourth quarter. Bank of Montreal Can now owns 9,575,446 shares of the financial services provider’s stock valued at $518,655,000 after purchasing an additional 339,072 shares in the last quarter. TD Asset Management Inc. increased its stake 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 acquiring an additional 1,359,126 shares during the last quarter. American Century Companies Inc. increased its stake in Brookfield Asset Management by 30.5% during the fourth quarter. American Century Companies Inc. now owns 74,389 shares of the financial services provider’s stock worth $4,033,000 after acquiring an additional 17,369 shares during the last quarter. Laffer Tengler Investments Inc. raised its position in Brookfield Asset Management by 24.2% during the fourth quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider’s stock valued at $8,008,000 after purchasing an additional 28,768 shares during the period. Finally, Plato Investment Management Ltd increased its position in shares of Brookfield Asset Management by 173.7% during the 4th quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider’s stock valued at $564,000 after purchasing an additional 6,580 shares during the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Up 1.0 %

Shares of BAM stock opened at $52.97 on Friday. The firm has a market cap of $86.73 billion, a price-to-earnings ratio of 40.13, a PEG ratio of 1.92 and a beta of 1.63. Brookfield Asset Management Ltd. has a 52-week low of $37.29 and a 52-week high of $62.61. The company’s 50 day moving average is $50.19 and its 200 day moving average is $53.73.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 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%. Analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s payout ratio is 132.58%.

Wall Street Analyst Weigh In

BAM has been the subject of a number of analyst reports. CIBC raised their price target on Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. StockNews.com upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Tuesday, April 15th. Hsbc Global Res upgraded Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods cut their target price on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research note on Monday, January 13th. Finally, BMO Capital Markets boosted their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research note on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management presently has an average rating of “Moderate Buy” and an average target price of $57.15.

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.