Lester Murray Antman dba SimplyRich Makes New $237,000 Investment in Brookfield Asset Management Ltd. (NYSE:BAM)

Lester Murray Antman dba SimplyRich purchased a new position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 5,889 shares of the financial services provider’s stock, valued at approximately $237,000.

A number of other institutional investors and hedge funds have also modified their holdings of BAM. American Century Companies Inc. increased its position in shares of Brookfield Asset Management by 0.7% during the first quarter. American Century Companies Inc. now owns 38,228 shares of the financial services provider’s stock valued at $2,161,000 after purchasing an additional 268 shares during the period. Dimensional Fund Advisors LP grew its position in Brookfield Asset Management by 3.9% in the first quarter. Dimensional Fund Advisors LP now owns 537,451 shares of the financial services provider’s stock valued at $30,404,000 after acquiring an additional 20,309 shares during the period. Canada Pension Plan Investment Board bought a new stake in Brookfield Asset Management in the first quarter valued at $22,369,000. Sequoia Financial Advisors LLC bought a new stake in Brookfield Asset Management in the first quarter valued at $340,000. Finally, Vanguard Group Inc. grew its position in Brookfield Asset Management by 2.8% in the first quarter. Vanguard Group Inc. now owns 44,050,716 shares of the financial services provider’s stock valued at $2,491,950,000 after acquiring an additional 1,220,298 shares during the period. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Stock Performance

NYSE:BAM traded up $0.60 during mid-day trading on Tuesday, hitting $41.97. The company had a trading volume of 701,273 shares, compared to its average volume of 1,080,139. Brookfield Asset Management Ltd. has a fifty-two week low of $28.35 and a fifty-two week high of $43.00. The business’s fifty day moving average is $41.12 and its two-hundred day moving average is $37.20. The firm has a market cap of $17.34 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 (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02. Brookfield Asset Management had a return on equity of 96.43% and a net margin of 50.23%. The company had revenue of $1.13 billion during the quarter. During the same quarter last year, the company earned $0.31 earnings per share. Equities analysts forecast that Brookfield Asset Management Ltd. will post 1.54 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.62%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

Wall Street Analyst Weigh In

BAM has been the topic of a number of analyst reports. HSBC cut Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. CIBC boosted their price objective on Brookfield Asset Management from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Deutsche Bank Aktiengesellschaft raised Brookfield Asset Management from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $33.00 to $45.00 in a research note on Monday, December 18th. Royal Bank of Canada boosted their price objective on Brookfield Asset Management from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. Finally, BMO Capital Markets boosted their price objective on Brookfield Asset Management from $34.00 to $36.00 and gave the stock a “market perform” rating in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Brookfield Asset Management has a consensus rating of “Moderate Buy” and an average price target of $42.20.

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.