LGT Capital Partners LTD. Buys 98,500 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

LGT Capital Partners LTD. increased its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 48.0% during the fourth quarter, Holdings Channel reports. The firm owned 303,500 shares of the financial services provider’s stock after acquiring an additional 98,500 shares during the period. LGT Capital Partners LTD.’s holdings in Brookfield Asset Management were worth $12,251,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of 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 worth $2,491,950,000 after acquiring an additional 1,220,298 shares during the last quarter. Moneta Group Investment Advisors LLC grew its stake in shares of Brookfield Asset Management by 30,651.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 31,097,454 shares of the financial services provider’s stock worth $891,564,000 after purchasing an additional 30,996,329 shares during the last quarter. FMR LLC grew its position in shares of Brookfield Asset Management by 10.2% in the 3rd quarter. FMR LLC now owns 14,217,008 shares of the financial services provider’s stock valued at $473,859,000 after buying an additional 1,313,734 shares during the last quarter. TD Asset Management Inc raised its holdings in Brookfield Asset Management by 5.7% during the 3rd quarter. TD Asset Management Inc now owns 8,902,390 shares of the financial services provider’s stock worth $298,019,000 after purchasing an additional 477,431 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Brookfield Asset Management by 166.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,051,145 shares of the financial services provider’s stock worth $398,883,000 after acquiring an additional 4,402,115 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Performance

BAM stock opened at $42.02 on Friday. Brookfield Asset Management Ltd. has a one year low of $28.35 and a one year high of $43.00. The company’s 50 day moving average price is $40.82 and its two-hundred day moving average price is $36.84. The company has a market capitalization of $17.36 billion, a PE ratio of 37.20, a price-to-earnings-growth ratio of 1.52 and a beta of 1.69.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its 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. The firm had revenue of $1.13 billion for the quarter. Brookfield Asset Management had a net margin of 50.23% and a return on equity of 96.43%. During the same quarter in the prior year, the business posted $0.31 EPS. On average, research analysts predict that Brookfield Asset Management Ltd. will post 1.56 EPS for the current year.

Brookfield Asset Management Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BAM. The Goldman Sachs Group cut their price objective on shares of Brookfield Asset Management from $50.92 to $41.00 and set a “buy” rating on the stock in a research report on Thursday, November 30th. Scotiabank raised their price objective on Brookfield Asset Management from $46.50 to $47.00 and gave the company a “sector outperform” rating in a research note on Thursday, February 8th. CIBC raised their price target on shares of Brookfield Asset Management from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. TD Securities cut their target price on Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating on the stock in a research note on Tuesday, January 9th. Finally, Royal Bank of Canada lifted their price target on Brookfield Asset Management from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $42.20.

Brookfield Asset Management Company 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.