5,662 Shares in Brookfield Asset Management Ltd. (NYSE:BAM) Purchased by Searle & CO.

Searle & CO. acquired a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 5,662 shares of the financial services provider’s stock, valued at approximately $229,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Jackson Hole Capital Partners LLC lifted its holdings in Brookfield Asset Management by 3.1% during the 4th quarter. Jackson Hole Capital Partners LLC now owns 9,770 shares of the financial services provider’s stock valued at $392,000 after buying an additional 291 shares in the last quarter. Procyon Advisors LLC lifted its holdings in Brookfield Asset Management by 5.9% during the 4th quarter. Procyon Advisors LLC now owns 8,291 shares of the financial services provider’s stock valued at $333,000 after buying an additional 461 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Brookfield Asset Management by 39.6% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,764 shares of the financial services provider’s stock valued at $59,000 after buying an additional 500 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Brookfield Asset Management by 3.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 17,372 shares of the financial services provider’s stock valued at $579,000 after buying an additional 545 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Brookfield Asset Management by 1.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 36,293 shares of the financial services provider’s stock valued at $1,185,000 after buying an additional 617 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BAM shares. Royal Bank of Canada lifted their price objective on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Monday. BMO Capital Markets boosted 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. CIBC boosted their price target on shares of Brookfield Asset Management from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Scotiabank boosted 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 report on Thursday, February 8th. Finally, HSBC lowered shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $42.50.

Brookfield Asset Management Price Performance

NYSE BAM opened at $38.19 on Thursday. The firm has a market cap of $15.78 billion, a PE ratio of 33.79, a price-to-earnings-growth ratio of 1.47 and a beta of 1.72. The company has a 50 day moving average price of $40.76 and a 200 day moving average price of $37.94. Brookfield Asset Management Ltd. has a 52 week low of $28.35 and a 52 week high of $43.00.

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, topping the consensus estimate of $0.34 by $0.02. The company 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 period in the prior year, the firm posted $0.31 EPS. On average, equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.49 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders 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 3.98%. 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 payout ratio is currently 134.51%.

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.