Brookfield Asset Management Ltd. $BAM Shares Bought by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. raised its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 65.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 254,212 shares of the financial services provider’s stock after purchasing an additional 100,713 shares during the period. Hillsdale Investment Management Inc.’s holdings in Brookfield Asset Management were worth $14,463,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank acquired a new position in shares of Brookfield Asset Management during the 2nd quarter worth approximately $294,730,000. State Street Corp raised its position in Brookfield Asset Management by 11,172.2% during the second quarter. State Street Corp now owns 3,524,700 shares of the financial services provider’s stock worth $194,845,000 after acquiring an additional 3,493,431 shares during the period. Geode Capital Management LLC lifted its holdings in Brookfield Asset Management by 62.4% during the second quarter. Geode Capital Management LLC now owns 3,755,340 shares of the financial services provider’s stock valued at $208,571,000 after purchasing an additional 1,443,441 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Brookfield Asset Management by 25.5% in the second quarter. The Manufacturers Life Insurance Company now owns 4,218,119 shares of the financial services provider’s stock valued at $232,402,000 after purchasing an additional 857,994 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Brookfield Asset Management by 36.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,406,520 shares of the financial services provider’s stock valued at $133,281,000 after purchasing an additional 641,300 shares during the period. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Trading Up 1.1%

Shares of Brookfield Asset Management stock opened at $50.60 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.97 and a quick ratio of 0.97. The stock’s 50 day simple moving average is $52.10 and its 200-day simple moving average is $54.91. The stock has a market cap of $82.88 billion, a P/E ratio of 33.29, a P/E/G ratio of 1.82 and a beta of 1.40. Brookfield Asset Management Ltd. has a 1-year low of $41.78 and a 1-year high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.40 billion. Brookfield Asset Management had a return on equity of 29.67% and a net margin of 51.59%. Analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be given a dividend of $0.5025 per share. This represents a $2.01 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, February 27th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.44. Brookfield Asset Management’s dividend payout ratio is presently 132.24%.

Analyst Upgrades and Downgrades

BAM has been the subject of several research analyst reports. Royal Bank Of Canada set a $74.00 price target on shares of Brookfield Asset Management and gave the stock an “outperform” rating in a research report on Monday, December 15th. The Goldman Sachs Group reduced their target price on Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, January 6th. UBS Group set a $52.00 target price on Brookfield Asset Management in a research report on Friday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Brookfield Asset Management in a research note on Monday, December 22nd. Finally, JPMorgan Chase & Co. increased their price objective on Brookfield Asset Management from $68.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Brookfield Asset Management currently has a consensus rating of “Moderate Buy” and an average price target of $63.65.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.