Bfsg LLC Invests $51,000 in Brookfield Asset Management Ltd. (NYSE:BAM)

Bfsg LLC bought a new position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,267 shares of the financial services provider’s stock, valued at approximately $51,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Marks Group Wealth Management Inc lifted its stake in shares of Brookfield Asset Management by 2.8% in the fourth quarter. Marks Group Wealth Management Inc now owns 156,943 shares of the financial services provider’s stock worth $6,304,000 after buying an additional 4,221 shares in the last quarter. Powell Investment Advisors LLC bought a new position in shares of Brookfield Asset Management in the fourth quarter worth approximately $239,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Brookfield Asset Management by 3.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,920 shares of the financial services provider’s stock worth $2,580,000 after buying an additional 1,842 shares in the last quarter. DGS Capital Management LLC bought a new position in shares of Brookfield Asset Management in the fourth quarter worth approximately $221,000. Finally, Mackenzie Financial Corp lifted its stake in shares of Brookfield Asset Management by 44.6% in the fourth quarter. Mackenzie Financial Corp now owns 6,341,977 shares of the financial services provider’s stock worth $254,842,000 after buying an additional 1,955,842 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Trading Down 0.6 %

Shares of BAM stock opened at $38.96 on Friday. Brookfield Asset Management Ltd. has a 12 month low of $28.35 and a 12 month high of $43.00. The stock has a market cap of $16.10 billion, a P/E ratio of 34.48, a P/E/G ratio of 1.51 and a beta of 1.68. The company has a 50 day simple moving average of $40.90 and a two-hundred day simple moving average of $37.73.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, February 7th. The financial services provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. Brookfield Asset Management had a net margin of 50.23% and a return on equity of 96.43%. The business had revenue of $1.13 billion during the quarter. During the same period in the prior year, the company posted $0.31 earnings per share. As a group, equities analysts forecast that Brookfield Asset Management Ltd. will post 1.49 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th were issued a dividend of $0.38 per share. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend was Wednesday, February 28th. Brookfield Asset Management’s dividend payout ratio is currently 134.51%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BAM shares. BMO Capital Markets increased their price objective on shares of Brookfield Asset Management from $34.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday, February 8th. Scotiabank increased their price objective on shares of Brookfield Asset Management from $46.50 to $47.00 and gave the company a “sector outperform” rating in a research report on Thursday, February 8th. TD Securities lowered their price objective on shares of Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating on the stock in a research report on Tuesday, January 9th. HSBC downgraded shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Finally, Royal Bank of Canada increased their price objective on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $42.20.

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.