Brookfield Asset Management Ltd. $BAM Shares Acquired by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. grew its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 65.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 254,212 shares of the financial services provider’s stock after acquiring an additional 100,713 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Brookfield Asset Management were worth $14,463,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd grew its position in Brookfield Asset Management by 1,270.6% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 432 shares during the last quarter. Manchester Capital Management LLC lifted its stake in shares of Brookfield Asset Management by 559.5% during the second quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock worth $29,000 after buying an additional 442 shares during the period. Sagard Holdings Management Inc. purchased a new stake in shares of Brookfield Asset Management during the second quarter valued at $39,000. Assetmark Inc. increased its position in shares of Brookfield Asset Management by 95.9% in the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 395 shares during the period. Finally, GAMMA Investing LLC raised its stake in Brookfield Asset Management by 93.3% in the 3rd quarter. GAMMA Investing LLC now owns 831 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 401 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Trading Up 1.1%

Brookfield Asset Management stock opened at $50.60 on Friday. The firm has a market cap of $82.88 billion, a PE ratio of 33.29, a P/E/G ratio of 1.82 and a beta of 1.40. Brookfield Asset Management Ltd. has a 12 month low of $41.78 and a 12 month high of $64.10. The stock’s 50 day simple moving average is $52.10 and its two-hundred day simple moving average is $54.91. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.05.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.06. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.67%. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.40 billion. Analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be issued a $0.5025 dividend. The ex-dividend date of this dividend is Friday, February 27th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.44. This represents a $2.01 dividend on an annualized basis and a yield of 4.0%. Brookfield Asset Management’s dividend payout ratio is presently 132.24%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BAM. Morgan Stanley set a $63.00 price objective on Brookfield Asset Management in a report on Tuesday. Loop Capital set a $60.00 price target on shares of Brookfield Asset Management in a report on Tuesday, January 6th. The Goldman Sachs Group decreased their price objective on shares of Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, January 6th. Royal Bank Of Canada set a $74.00 price objective on shares of Brookfield Asset Management and gave the company an “outperform” rating in a report on Monday, December 15th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Brookfield Asset Management in a report on Monday, December 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.65.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.