5,497 Shares in Brookfield Asset Management Ltd. (NYSE:BAM) Purchased by DGS Capital Management LLC

DGS Capital Management LLC bought a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,497 shares of the financial services provider’s stock, valued at approximately $221,000.

Several other large investors have also recently added to or reduced their stakes in BAM. Moneta Group Investment Advisors LLC lifted its position in Brookfield Asset Management by 30,651.5% during 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 buying an additional 30,996,329 shares during the period. Norges Bank purchased a new position in shares of Brookfield Asset Management in the 4th quarter worth about $152,180,000. Goldman Sachs Group Inc. raised its holdings 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 purchasing an additional 4,402,115 shares during the period. Bank of America Corp DE raised its holdings in shares of Brookfield Asset Management by 160.5% in the 1st quarter. Bank of America Corp DE now owns 3,268,982 shares of the financial services provider’s stock worth $106,961,000 after purchasing an additional 2,013,890 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in shares of Brookfield Asset Management by 44.6% in the 4th quarter. Mackenzie Financial Corp now owns 6,341,977 shares of the financial services provider’s stock worth $254,842,000 after purchasing an additional 1,955,842 shares during the period. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BAM. BMO Capital Markets raised their price objective on Brookfield Asset Management from $34.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, February 8th. Royal Bank of Canada raised their price objective on Brookfield Asset Management from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. HSBC downgraded Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Scotiabank increased their target price 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. Finally, CIBC increased their target price on Brookfield Asset Management from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.20.

Brookfield Asset Management Stock Down 0.2 %

NYSE:BAM opened at $38.45 on Wednesday. The business’s 50 day moving average is $41.08 and its two-hundred day moving average is $37.46. Brookfield Asset Management Ltd. has a 52 week low of $28.35 and a 52 week high of $43.00. The company has a market cap of $15.89 billion, a PE ratio of 34.03, a P/E/G ratio of 1.48 and a beta of 1.68.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Wednesday, February 7th. The financial services provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter. During the same period in the prior year, the business earned $0.31 EPS. As a group, sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.49 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date was Wednesday, February 28th. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.32. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 134.51%.

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.