Hillsdale Investment Management Inc. Has $7.21 Million Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Hillsdale Investment Management Inc. raised its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 14,688.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 133,100 shares of the financial services provider’s stock after buying an additional 132,200 shares during the period. Hillsdale Investment Management Inc.’s holdings in Brookfield Asset Management were worth $7,211,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BAM. William Blair Investment Management LLC acquired a new stake in Brookfield Asset Management in the fourth quarter valued at approximately $204,169,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Brookfield Asset Management by 103.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider’s stock worth $216,507,000 after purchasing an additional 2,031,995 shares during the period. Madison Investment Advisors LLC acquired a new position in shares of Brookfield Asset Management during the fourth quarter worth $94,122,000. Proficio Capital Partners LLC lifted its holdings in shares of Brookfield Asset Management by 5,331.6% during the fourth quarter. Proficio Capital Partners LLC now owns 351,205 shares of the financial services provider’s stock worth $19,032,000 after purchasing an additional 344,739 shares during the period. Finally, Bamco Inc. NY lifted its holdings in shares of Brookfield Asset Management by 31.5% during the third quarter. Bamco Inc. NY now owns 1,100,435 shares of the financial services provider’s stock worth $52,040,000 after purchasing an additional 263,532 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 0.3 %

BAM opened at $49.52 on Friday. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $62.61. The company has a market cap of $21.94 billion, a P/E ratio of 37.52, a price-to-earnings-growth ratio of 1.92 and a beta of 1.50. The company has a fifty day moving average price of $55.18 and a two-hundred day moving average price of $53.19.

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

Brookfield Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a $0.4375 dividend. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Asset Management’s payout ratio is 132.58%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BAM. Hsbc Global Res upgraded shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. BMO Capital Markets lifted their price target on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a report on Thursday, February 13th. TD Securities lifted their price target on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Scotiabank lowered their target price on shares of 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. Finally, CIBC lifted their target price on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.38.

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.