Clearstead Trust LLC Purchases New Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Clearstead Trust LLC acquired a new position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,575 shares of the financial services provider’s stock, valued at approximately $85,000.

Several other institutional investors also recently bought and sold shares of BAM. Principal Financial Group Inc. boosted its holdings in Brookfield Asset Management by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock worth $419,400,000 after buying an additional 24,409 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in Brookfield Asset Management by 3.5% in the 3rd quarter. Apollon Wealth Management LLC now owns 17,228 shares of the financial services provider’s stock worth $815,000 after buying an additional 579 shares during the last quarter. Entropy Technologies LP acquired a new stake in Brookfield Asset Management in the 3rd quarter worth about $415,000. Oppenheimer & Co. Inc. acquired a new stake in Brookfield Asset Management in the 3rd quarter worth about $219,000. Finally, Kovack Advisors Inc. acquired a new stake in Brookfield Asset Management in the 3rd quarter worth about $333,000. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BAM shares. HSBC upgraded Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Scotiabank lowered their target price on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating on the stock in a report on Thursday, February 13th. BMO Capital Markets boosted their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a report on Thursday, February 13th. CIBC boosted their target price on Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods lowered their target price on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a report on Monday, January 13th. Three research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $56.71.

Brookfield Asset Management Stock Performance

BAM opened at $46.89 on Friday. The stock has a market capitalization of $20.78 billion, a PE ratio of 35.52, a P/E/G ratio of 1.92 and a beta of 1.50. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $62.61. The business’s 50 day moving average price is $55.73 and its 200 day moving average price is $52.91.

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, beating analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. As a group, equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal 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 given 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 dividend on an annualized basis and a yield of 3.73%. Brookfield Asset Management’s payout ratio is presently 132.58%.

Brookfield Asset Management Company 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.