Ossiam Acquires 810 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Ossiam lifted its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,054 shares of the financial services provider’s stock after buying an additional 810 shares during the period. Ossiam’s holdings in Brookfield Asset Management were worth $4,068,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of BAM. Geode Capital Management LLC grew its holdings in shares of Brookfield Asset Management by 11.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock worth $77,293,000 after purchasing an additional 168,170 shares during the last quarter. Bank of Montreal Can grew its stake in Brookfield Asset Management by 3.7% during the fourth quarter. Bank of Montreal Can now owns 9,575,446 shares of the financial services provider’s stock worth $518,655,000 after buying an additional 339,072 shares during the last quarter. TD Asset Management Inc. raised its stake in shares of Brookfield Asset Management by 8.9% in the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock valued at $903,323,000 after acquiring an additional 1,359,126 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Brookfield Asset Management by 30.5% in the 4th quarter. American Century Companies Inc. now owns 74,389 shares of the financial services provider’s stock worth $4,033,000 after acquiring an additional 17,369 shares in the last quarter. Finally, Laffer Tengler Investments Inc. grew its position in Brookfield Asset Management by 24.2% during the 4th quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider’s stock worth $8,008,000 after acquiring an additional 28,768 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 1.2 %

Shares of Brookfield Asset Management stock opened at $48.56 on Friday. Brookfield Asset Management Ltd. has a 12 month low of $37.29 and a 12 month high of $62.61. The company has a market capitalization of $79.51 billion, a PE ratio of 36.79, a PEG ratio of 1.92 and a beta of 1.63. The stock’s fifty day simple moving average is $51.00 and its 200 day simple moving average is $53.62.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. Analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were issued a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio is 132.58%.

Wall Street Analysts Forecast Growth

BAM has been the topic of several research analyst reports. Hsbc Global Res upgraded Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. BMO Capital Markets boosted their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research note on Thursday, February 13th. Scotiabank decreased their price target on shares of Brookfield Asset Management from $62.50 to $58.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 7th. Wells Fargo & Company dropped their price objective on shares of Brookfield Asset Management from $50.00 to $48.00 and set an “underweight” rating for the company in a research report on Tuesday, April 8th. Finally, Morgan Stanley lowered their target price on Brookfield Asset Management from $62.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.15.

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.