Brookfield Asset Management Ltd. (NYSE:BAM) Shares Purchased by Mufg Securities Canada LTD.

Mufg Securities Canada LTD. increased its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 71.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 568,179 shares of the financial services provider’s stock after buying an additional 237,323 shares during the period. Brookfield Asset Management accounts for about 1.1% of Mufg Securities Canada LTD.’s holdings, making the stock its 29th largest holding. Mufg Securities Canada LTD.’s holdings in Brookfield Asset Management were worth $30,795,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in Brookfield Asset Management by 11.6% in the third quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock valued at $77,293,000 after buying an additional 168,170 shares during the period. Laffer Tengler Investments Inc. increased its holdings in Brookfield Asset Management by 24.2% in the 4th 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 in the last quarter. Plato Investment Management Ltd lifted its stake in shares of Brookfield Asset Management by 173.7% during the fourth quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider’s stock worth $564,000 after purchasing an additional 6,580 shares in the last quarter. Tacita Capital Inc lifted its position in shares of Brookfield Asset Management by 19.3% during the fourth quarter. Tacita Capital Inc now owns 47,767 shares of the financial services provider’s stock worth $2,585,000 after purchasing an additional 7,743 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Brookfield Asset Management by 103.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider’s stock worth $216,507,000 after buying an additional 2,031,995 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 0.6 %

BAM stock opened at $51.74 on Wednesday. The firm has a market cap of $22.93 billion, a PE ratio of 39.20, a PEG ratio of 1.92 and a beta of 1.50. Brookfield Asset Management Ltd. has a 1 year low of $37.29 and a 1 year high of $62.61. The company has a fifty day simple moving average of $55.15 and a 200 day simple moving average of $53.51.

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 earnings per share for the quarter, topping 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, analysts forecast 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 will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.38%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Asset Management’s payout ratio is presently 132.58%.

Analysts Set New Price Targets

Several research analysts have weighed in on BAM shares. UBS Group began coverage on shares of Brookfield Asset Management in a report on Monday, December 16th. They set a “buy” rating for the company. TD Securities boosted their target price on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Hsbc Global Res raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. HSBC upgraded shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of 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. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.38.

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.