Brookfield Asset Management Ltd. (NYSE:BAM) Stake Boosted by Whittier Trust Co.

Whittier Trust Co. increased its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 44.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,153 shares of the financial services provider’s stock after purchasing an additional 11,081 shares during the period. Whittier Trust Co.’s holdings in Brookfield Asset Management were worth $1,959,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. RPg Family Wealth Advisory LLC bought a new stake in Brookfield Asset Management in the third quarter valued at $27,000. Truvestments Capital LLC increased its holdings in shares of Brookfield Asset Management by 487.2% in the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 419 shares during the period. Versant Capital Management Inc lifted its position in Brookfield Asset Management by 1,606.3% in the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 771 shares during the last quarter. Continuum Advisory LLC boosted its stake in Brookfield Asset Management by 42.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 329 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in Brookfield Asset Management by 35.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 319 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Up 0.3 %

BAM opened at $49.52 on Friday. The firm has a market cap of $21.94 billion, a PE ratio of 37.52, a P/E/G ratio of 1.92 and a beta of 1.50. The business has a fifty day simple moving average of $55.18 and a 200-day simple moving average of $53.19. Brookfield Asset Management Ltd. has a fifty-two week low of $37.29 and a fifty-two week high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, beating 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%. On average, equities research analysts anticipate 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 will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 3.53%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, February 28th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 132.58%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. HSBC upgraded Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Wells Fargo & Company lowered their price target on Brookfield Asset Management from $54.00 to $50.00 and set an “underweight” rating on the stock in a report on Thursday. Scotiabank reduced their price objective on shares of Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a report on Thursday, February 13th. Keefe, Bruyette & Woods lowered their target price on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research note on Monday, January 13th. Finally, Hsbc Global Res upgraded shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Asset Management has a consensus rating of “Moderate Buy” and a consensus price target of $56.38.

Brookfield Asset Management Company Profile

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.