Brown Brothers Harriman & Co. Grows Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Brown Brothers Harriman & Co. raised its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 9.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,839 shares of the financial services provider’s stock after purchasing an additional 750 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Brookfield Asset Management were worth $479,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BAM. Vanguard Group Inc. grew its stake in shares of Brookfield Asset Management by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 16,901,942 shares of the financial services provider’s stock worth $916,676,000 after acquiring an additional 263,660 shares in the last quarter. TD Asset Management Inc. increased its position in shares of Brookfield Asset Management by 8.9% during the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock worth $903,323,000 after purchasing an additional 1,359,126 shares in the last quarter. Principal Financial Group Inc. increased its position in Brookfield Asset Management by 0.7% during the fourth quarter. Principal Financial Group Inc. now owns 8,930,366 shares of the financial services provider’s stock worth $483,963,000 after buying an additional 62,908 shares during the period. Norges Bank acquired a new position in shares of Brookfield Asset Management in the 4th quarter valued at $287,361,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Brookfield Asset Management by 103.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider’s stock valued at $216,507,000 after buying an additional 2,031,995 shares during the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Performance

BAM opened at $48.48 on Monday. The firm has a 50 day moving average price of $54.84 and a 200 day moving average price of $53.66. 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 $79.37 billion, a PE ratio of 36.72, a price-to-earnings-growth ratio of 1.92 and a beta of 1.50.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping 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, sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BAM shares. Wells Fargo & Company cut their price target on 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. BMO Capital Markets boosted their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research note on Thursday, February 13th. HSBC upgraded shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods lowered their target price on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a report on Monday, January 13th. Finally, Scotiabank decreased their price target on shares of Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.38.

Brookfield Asset Management 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.