Hemington Wealth Management Invests $211,000 in Brookfield Asset Management Ltd. (NYSE:BAM)

Hemington Wealth Management purchased a new position in shares of 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. The firm purchased 5,254 shares of the financial services provider’s stock, valued at approximately $211,000.

Several other institutional investors and hedge funds have also modified their holdings of BAM. Private Trust Co. NA boosted its stake in shares of Brookfield Asset Management by 180.4% during the 3rd quarter. Private Trust Co. NA now owns 1,057 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 680 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Brookfield Asset Management by 35.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,057 shares of the financial services provider’s stock valued at $47,000 after buying an additional 277 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Brookfield Asset Management by 106.4% during the 3rd quarter. Signaturefd LLC now owns 1,482 shares of the financial services provider’s stock valued at $49,000 after buying an additional 764 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Brookfield Asset Management by 39.6% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,764 shares of the financial services provider’s stock valued at $59,000 after buying an additional 500 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Brookfield Asset Management by 21.9% during the 3rd quarter. Rhumbline Advisers now owns 1,844 shares of the financial services provider’s stock valued at $61,000 after buying an additional 331 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

Brookfield Asset Management stock traded up $0.43 during trading hours on Tuesday, hitting $41.80. The company had a trading volume of 488,786 shares, compared to its average volume of 1,078,295. The company has a 50-day moving average price of $41.12 and a two-hundred day moving average price of $37.20. Brookfield Asset Management Ltd. has a 1 year low of $28.35 and a 1 year high of $43.00. The firm has a market cap of $17.27 billion, a P/E ratio of 36.63, a P/E/G ratio of 1.55 and a beta of 1.68.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.36 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.13 billion during the quarter. During the same period in the previous year, the company posted $0.31 EPS. As a group, equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.54 EPS for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.64%. The ex-dividend date was Wednesday, February 28th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.32. Brookfield Asset Management’s dividend payout ratio is presently 134.51%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Brookfield Asset Management from a “hold” rating to a “buy” rating and lifted their target price for the company from $33.00 to $45.00 in a research note on Monday, December 18th. TD Securities reduced their price target on shares of Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating on the stock in a report on Tuesday, January 9th. Royal Bank of Canada boosted their target price on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. HSBC downgraded shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Finally, BMO Capital Markets upped their price target on shares of Brookfield Asset Management from $34.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.20.

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.