Kovack Advisors Inc. Raises Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Kovack Advisors Inc. boosted its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 13.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,972 shares of the financial services provider’s stock after buying an additional 926 shares during the quarter. Kovack Advisors Inc.’s holdings in Brookfield Asset Management were worth $432,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BAM. Private Advisor Group LLC boosted its holdings in Brookfield Asset Management by 9.3% in the third quarter. Private Advisor Group LLC now owns 13,702 shares of the financial services provider’s stock valued at $648,000 after purchasing an additional 1,169 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Brookfield Asset Management in the third quarter worth about $5,210,000. Wealth Enhancement Advisory Services LLC grew its holdings in Brookfield Asset Management by 3.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 39,234 shares of the financial services provider’s stock worth $1,855,000 after acquiring an additional 1,309 shares during the period. US Bancorp DE raised its position in Brookfield Asset Management by 5.2% during the third quarter. US Bancorp DE now owns 15,004 shares of the financial services provider’s stock valued at $710,000 after acquiring an additional 736 shares in the last quarter. Finally, Intact Investment Management Inc. raised its position in Brookfield Asset Management by 82.8% during the third quarter. Intact Investment Management Inc. now owns 231,740 shares of the financial services provider’s stock valued at $10,957,000 after acquiring an additional 104,980 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Up 0.2 %

Shares of NYSE BAM opened at $56.32 on Friday. The company’s 50-day simple moving average is $56.79 and its 200-day simple moving average is $52.30. Brookfield Asset Management Ltd. has a 52-week low of $37.29 and a 52-week high of $62.61. The firm has a market cap of $24.96 billion, a price-to-earnings ratio of 42.67, a price-to-earnings-growth ratio of 1.92 and a beta of 1.46.

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 the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. Equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 of this dividend is Friday, February 28th. This represents a $1.75 annualized dividend and a dividend yield of 3.11%. Brookfield Asset Management’s dividend payout ratio (DPR) is 132.58%.

Analyst Ratings Changes

A number of brokerages have recently commented on BAM. Wells Fargo & Company dropped their price objective on shares of Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating on the stock in a research note on Thursday, February 13th. 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 report on Monday, January 13th. The Goldman Sachs Group raised their price target on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. TD Securities raised their price target on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Finally, Royal Bank of Canada raised their price target on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $56.71.

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.