Brookfield Asset Management Ltd. (NYSE:BAM) Shares Bought by LGT Capital Partners LTD.

LGT Capital Partners LTD. raised its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 48.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 303,500 shares of the financial services provider’s stock after purchasing an additional 98,500 shares during the quarter. LGT Capital Partners LTD. owned 0.07% of Brookfield Asset Management worth $12,251,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in BAM. Moneta Group Investment Advisors LLC boosted its stake in Brookfield Asset Management by 30,651.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 31,097,454 shares of the financial services provider’s stock valued at $891,564,000 after acquiring an additional 30,996,329 shares during the last quarter. Norges Bank acquired a new stake in shares of Brookfield Asset Management during the 4th quarter valued at approximately $152,180,000. Goldman Sachs Group Inc. lifted its stake in Brookfield Asset Management by 166.2% during the first 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 last quarter. Bank of America Corp DE boosted its holdings in Brookfield Asset Management by 160.5% in the first 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, FMR LLC increased its stake in Brookfield Asset Management by 10.2% during the third quarter. FMR LLC now owns 14,217,008 shares of the financial services provider’s stock valued at $473,859,000 after purchasing an additional 1,313,734 shares during the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Trading Up 0.5 %

Shares of BAM stock opened at $42.02 on Friday. The company has a market capitalization of $17.36 billion, a price-to-earnings ratio of 37.20, a P/E/G ratio of 1.52 and a beta of 1.69. Brookfield Asset Management Ltd. has a 1-year low of $28.35 and a 1-year high of $43.00. The stock’s fifty day simple moving average is $40.82 and its 200-day simple moving average is $36.84.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Wednesday, February 7th. The financial services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate 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 last year, the firm earned $0.31 EPS. On average, sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.56 EPS for the current year.

Brookfield Asset Management Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts have issued reports on BAM shares. The Goldman Sachs Group cut their target price on shares of Brookfield Asset Management from $50.92 to $41.00 and set a “buy” rating on the stock in a report on Thursday, November 30th. BMO Capital Markets increased their target price on Brookfield Asset Management from $34.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, February 8th. HSBC downgraded shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Royal Bank of Canada increased their price objective on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. Finally, CIBC upped their target price on shares of Brookfield Asset Management from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.20.

Brookfield Asset Management 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.