Brookfield Asset Management Ltd. (NYSE:BAM) Stock Position Raised by Truvestments Capital LLC

Truvestments Capital LLC boosted its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 487.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 505 shares of the financial services provider’s stock after acquiring an additional 419 shares during the period. Truvestments Capital LLC’s holdings in Brookfield Asset Management were worth $27,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. RPg Family Wealth Advisory LLC bought a new stake in shares of Brookfield Asset Management in the 3rd quarter worth approximately $27,000. Versant Capital Management Inc lifted its stake in Brookfield Asset Management by 1,606.3% in the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after buying an additional 771 shares during the last quarter. Continuum Advisory LLC boosted its holdings in shares of Brookfield Asset Management by 42.2% during the third quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 329 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Brookfield Asset Management by 35.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 319 shares during the last quarter. Finally, Global Retirement Partners LLC grew its position in shares of Brookfield Asset Management by 170.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,406 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 887 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Hsbc Global Res raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods reduced their price objective on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research report on Monday, January 13th. HSBC raised Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Friday, February 14th. BMO Capital Markets lifted their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research note on Thursday, February 13th. Finally, Scotiabank decreased their price target on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $56.71.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM opened at $45.65 on Friday. The stock has a market capitalization of $20.23 billion, a price-to-earnings ratio of 34.58, a PEG ratio of 1.92 and a beta of 1.50. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $62.61. The company has a 50 day moving average price of $55.88 and a 200 day moving average price of $52.88.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. On average, sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s payout ratio is presently 132.58%.

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.