Proficio Capital Partners LLC Increases Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Proficio Capital Partners LLC raised its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5,331.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 351,205 shares of the financial services provider’s stock after acquiring an additional 344,739 shares during the quarter. Proficio Capital Partners LLC owned approximately 0.08% of Brookfield Asset Management worth $19,032,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Hara Capital LLC acquired a new position in Brookfield Asset Management in the third quarter valued at approximately $27,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Brookfield Asset Management during the 3rd quarter worth approximately $27,000. Versant Capital Management Inc boosted its holdings in shares of Brookfield Asset Management by 1,606.3% in the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after buying an additional 771 shares in the last quarter. Continuum Advisory LLC grew its position in shares of Brookfield Asset Management by 42.2% in the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock valued at $52,000 after buying an additional 329 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in Brookfield Asset Management by 35.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 319 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

NYSE:BAM opened at $56.32 on Friday. The firm has a market cap of $24.96 billion, a price-to-earnings ratio of 42.67, a price-to-earnings-growth ratio of 1.92 and a beta of 1.46. The firm’s fifty day moving average price is $56.79 and its 200 day moving average price is $52.39. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. As a group, analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be given a dividend of $0.4375 per share. This is a boost 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 payout ratio is presently 132.58%.

Analyst Ratings Changes

Several equities analysts have issued reports on BAM shares. The Goldman Sachs Group upped their price objective on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Scotiabank decreased their target price on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a research report on Thursday, February 13th. TD Securities lifted their price target on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. BMO Capital Markets boosted their price objective on 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. Finally, Royal Bank of Canada raised their target price on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Brookfield Asset Management currently has an average rating of “Hold” and a consensus price target of $56.71.

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.