Mackenzie Financial Corp Boosts Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Mackenzie Financial Corp raised its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 44.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,341,977 shares of the financial services provider’s stock after purchasing an additional 1,955,842 shares during the quarter. Mackenzie Financial Corp owned 1.54% of Brookfield Asset Management worth $254,842,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BAM. Cerity Partners LLC purchased a new position in Brookfield Asset Management during the fourth quarter worth approximately $261,000. Sather Financial Group Inc raised its holdings in shares of Brookfield Asset Management by 1.1% during the fourth quarter. Sather Financial Group Inc now owns 419,156 shares of the financial services provider’s stock valued at $16,837,000 after acquiring an additional 4,589 shares during the last quarter. Lester Murray Antman dba SimplyRich acquired a new position in shares of Brookfield Asset Management during the fourth quarter valued at approximately $237,000. Hemington Wealth Management acquired a new position in shares of Brookfield Asset Management during the fourth quarter valued at approximately $211,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Brookfield Asset Management during the fourth quarter valued at approximately $4,160,000. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analysts Set New Price Targets

BAM has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft raised Brookfield Asset Management from a “hold” rating to a “buy” rating and increased their price target for the company from $33.00 to $45.00 in a report on Monday, December 18th. TD Securities lowered their price objective on Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating for the company in a research report on Tuesday, January 9th. Royal Bank of Canada increased their price objective on Brookfield Asset Management from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. Scotiabank increased their price objective on Brookfield Asset Management from $46.50 to $47.00 and gave the stock a “sector outperform” rating in a research report on Thursday, February 8th. Finally, HSBC lowered Brookfield Asset Management from a “buy” rating to a “hold” rating in a research 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 given a buy rating and one has issued a strong buy rating to the company. 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 Trading Down 1.9 %

NYSE:BAM traded down $0.74 during midday trading on Monday, reaching $38.64. The company had a trading volume of 691,341 shares, compared to its average volume of 1,090,995. The firm has a market capitalization of $15.96 billion, a price-to-earnings ratio of 34.96, a PEG ratio of 1.52 and a beta of 1.68. The stock’s fifty day simple moving average is $41.13 and its 200-day simple moving average is $37.39. Brookfield Asset Management Ltd. has a 12-month low of $28.35 and a 12-month 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The firm had revenue of $1.13 billion during the quarter. Brookfield Asset Management had a return on equity of 96.43% and a net margin of 50.23%. During the same quarter last year, the business posted $0.31 earnings per share. As a group, sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.49 EPS for the current year.

Brookfield Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were issued a $0.38 dividend. The ex-dividend date was Wednesday, February 28th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a yield of 3.93%. Brookfield Asset Management’s dividend payout ratio (DPR) is 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.