K.J. Harrison & Partners Inc Boosts Position in Brookfield Asset Management Ltd. (NYSE:BAM)

K.J. Harrison & Partners Inc raised its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 15.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,622 shares of the financial services provider’s stock after purchasing an additional 1,300 shares during the period. K.J. Harrison & Partners Inc’s holdings in Brookfield Asset Management were worth $523,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Bank of Montreal Can increased its position in shares of Brookfield Asset Management by 0.5% during the third quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider’s stock worth $435,729,000 after purchasing an additional 43,134 shares in the last quarter. Principal Financial Group Inc. increased its position in Brookfield Asset Management by 0.7% during the fourth quarter. Principal Financial Group Inc. now owns 8,930,366 shares of the financial services provider’s stock worth $483,963,000 after buying an additional 62,908 shares during the period. CIBC Asset Management Inc lifted its stake in Brookfield Asset Management by 10.3% in the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock valued at $188,057,000 after buying an additional 370,383 shares during the last quarter. Douglass Winthrop Advisors LLC boosted its holdings in shares of Brookfield Asset Management by 3.9% in the third quarter. Douglass Winthrop Advisors LLC now owns 2,670,488 shares of the financial services provider’s stock valued at $126,287,000 after acquiring an additional 99,020 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Brookfield Asset Management by 66.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock worth $92,896,000 after acquiring an additional 784,250 shares during the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Trading Down 2.1 %

BAM stock opened at $56.24 on Friday. Brookfield Asset Management Ltd. has a 52 week low of $37.29 and a 52 week high of $62.61. The company has a market cap of $24.92 billion, a P/E ratio of 42.61, a P/E/G ratio of 1.92 and a beta of 1.46. The company’s 50-day moving average price is $56.75 and its 200 day moving average price is $52.18.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced 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%. On average, equities research analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be issued a $0.4375 dividend. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, February 28th. This represents a $1.75 annualized dividend and a yield of 3.11%. Brookfield Asset Management’s dividend payout ratio is 115.15%.

Analyst Upgrades and Downgrades

BAM has been the topic of several research reports. Wells Fargo & Company lowered their price objective on shares of Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating on the stock in a research report on Thursday, February 13th. Hsbc Global Res raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, November 11th. UBS Group assumed coverage on shares of Brookfield Asset Management in a research report on Monday, December 16th. They set a “buy” rating for the company. Finally, BMO Capital Markets lifted 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 report on Thursday, February 13th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average 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.