Norges Bank Invests $287.36 Million in Brookfield Asset Management Ltd. (NYSE:BAM)

Norges Bank purchased a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 5,304,727 shares of the financial services provider’s stock, valued at approximately $287,361,000. Norges Bank owned 1.20% of Brookfield Asset Management as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BAM. Truvestments Capital LLC boosted its holdings in shares of Brookfield Asset Management by 487.2% in the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock worth $27,000 after buying an additional 419 shares during the period. Mountain Hill Investment Partners Corp. acquired a new position in Brookfield Asset Management in the 4th quarter worth approximately $32,000. Versant Capital Management Inc grew its position in Brookfield Asset Management by 1,606.3% during the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 771 shares in the last quarter. Continuum Advisory LLC lifted its holdings in shares of Brookfield Asset Management by 42.2% in the third 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 in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Brookfield Asset Management by 35.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 319 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BAM. TD Securities upped their price target on Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Wells Fargo & Company decreased their target price on shares of Brookfield Asset Management from $54.00 to $50.00 and set an “underweight” rating for the company in a research note on Thursday, March 20th. CIBC boosted their price target on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. StockNews.com upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Thursday, March 20th. Finally, HSBC upgraded shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Brookfield Asset Management has a consensus rating of “Moderate Buy” and an average target price of $56.38.

Brookfield Asset Management Stock Down 3.8 %

BAM opened at $48.48 on Friday. Brookfield Asset Management Ltd. has a 12-month low of $37.29 and a 12-month high of $62.61. The firm has a market capitalization of $79.37 billion, a P/E ratio of 36.72, a price-to-earnings-growth ratio of 1.92 and a beta of 1.50. The stock’s 50 day moving average price is $54.84 and its two-hundred day moving average price is $53.59.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be given a dividend of $0.4375 per share. The ex-dividend date is Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.61%. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio is currently 132.58%.

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.