Malaga Cove Capital LLC Increases Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Malaga Cove Capital LLC raised its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 68.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 10,574 shares of the financial services provider’s stock after purchasing an additional 4,299 shares during the quarter. Malaga Cove Capital LLC’s holdings in Brookfield Asset Management were worth $425,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of BAM. CWM LLC raised its position in Brookfield Asset Management by 48.5% during the 3rd quarter. CWM LLC now owns 1,959 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 640 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Brookfield Asset Management in the third quarter worth $238,000. Asset Management One Co. Ltd. boosted its position in shares of Brookfield Asset Management by 505.6% during the third quarter. Asset Management One Co. Ltd. now owns 27,614 shares of the financial services provider’s stock valued at $921,000 after purchasing an additional 23,054 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Brookfield Asset Management by 3.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 17,372 shares of the financial services provider’s stock worth $579,000 after buying an additional 545 shares during the period. Finally, Raymond James & Associates increased its stake in shares of Brookfield Asset Management by 3.7% during the third quarter. Raymond James & Associates now owns 297,141 shares of the financial services provider’s stock valued at $9,907,000 after purchasing an additional 10,558 shares in the last quarter. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Stock Performance

Shares of NYSE BAM traded up $0.56 during midday trading on Friday, hitting $39.13. 8,492,770 shares of the stock traded hands, compared to its average volume of 1,966,548. The firm has a market capitalization of $16.17 billion, a P/E ratio of 34.63, a PEG ratio of 1.51 and a beta of 1.72. Brookfield Asset Management Ltd. has a one year low of $28.35 and a one year high of $43.00. The firm has a 50-day moving average of $40.66 and a two-hundred day moving average of $37.99.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Wednesday, February 7th. The financial services provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The company had revenue of $1.13 billion for the quarter. Brookfield Asset Management had a return on equity of 96.43% and a net margin of 50.23%. During the same period in the prior year, the company posted $0.31 EPS. Equities analysts forecast that Brookfield Asset Management Ltd. will post 1.49 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.88%. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.32. The ex-dividend date was Wednesday, February 28th. Brookfield Asset Management’s payout ratio is 134.51%.

Wall Street Analysts Forecast Growth

BAM has been the topic of several analyst reports. CIBC boosted their target price on Brookfield Asset Management from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. TD Securities decreased their target price on shares of Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating for the company in a report on Tuesday, January 9th. BMO Capital Markets increased their price target on shares of Brookfield Asset Management from $34.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, February 8th. Scotiabank raised their price target on shares of Brookfield Asset Management from $46.50 to $47.00 and gave the company a “sector outperform” rating in a research report on Thursday, February 8th. Finally, HSBC cut Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

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.