Aster Capital Management DIFC Ltd Invests $1.49 Million in Brookfield Asset Management Ltd. (NYSE:BAM)

Aster Capital Management DIFC Ltd purchased a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 27,520 shares of the financial services provider’s stock, valued at approximately $1,491,000. Brookfield Asset Management comprises about 0.6% of Aster Capital Management DIFC Ltd’s holdings, making the stock its 27th biggest position.

Several other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in shares of 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 valued at $419,400,000 after purchasing an additional 24,409 shares during the last quarter. Verition Fund Management LLC bought a new position in Brookfield Asset Management in the third quarter valued at approximately $391,000. Benjamin Edwards Inc. acquired a new stake in Brookfield Asset Management during the 3rd quarter worth $602,000. Hilltop Holdings Inc. bought a new stake in shares of Brookfield Asset Management during the 3rd quarter valued at $212,000. Finally, HighTower Advisors LLC lifted its stake in shares of Brookfield Asset Management by 3.7% in the 3rd quarter. HighTower Advisors LLC now owns 134,752 shares of the financial services provider’s stock valued at $6,370,000 after purchasing an additional 4,862 shares during the period. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Down 6.0 %

Shares of NYSE:BAM opened at $44.21 on Friday. The firm has a market cap of $72.39 billion, a price-to-earnings ratio of 33.49, a PEG ratio of 1.92 and a beta of 1.62. Brookfield Asset Management Ltd. has a 12 month low of $37.29 and a 12 month high of $62.61. The company’s fifty day simple moving average is $53.89 and its 200 day simple moving average is $53.70.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. Research 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 company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were given a dividend of $0.4375 per share. The ex-dividend date was Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a yield of 3.96%. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio is 132.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BAM shares. HSBC raised Brookfield Asset Management from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods decreased their target price on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research report on Monday, January 13th. CIBC increased their price target on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Wells Fargo & Company decreased their price objective on shares of Brookfield Asset Management from $54.00 to $50.00 and set an “underweight” rating for the company in a report on Thursday, March 20th. Finally, StockNews.com raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Brookfield Asset Management has an average rating of “Moderate Buy” and an average price target of $58.04.

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.