Brookfield Asset Management Ltd. (NYSE:BAM) Shares Acquired by Bank of Montreal Can

Bank of Montreal Can raised its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,575,446 shares of the financial services provider’s stock after purchasing an additional 339,072 shares during the quarter. Bank of Montreal Can owned 2.16% of Brookfield Asset Management worth $518,655,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Brookfield Asset Management by 11.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock valued at $77,293,000 after acquiring an additional 168,170 shares during the period. TD Asset Management Inc. boosted its position in 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. Laffer Tengler Investments Inc. boosted its position in Brookfield Asset Management by 24.2% during the fourth quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider’s stock worth $8,008,000 after purchasing an additional 28,768 shares in the last quarter. Plato Investment Management Ltd grew its holdings in Brookfield Asset Management by 173.7% in the fourth quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider’s stock valued at $564,000 after purchasing an additional 6,580 shares during the last quarter. Finally, Tacita Capital Inc increased its position in shares of Brookfield Asset Management by 19.3% in the fourth quarter. Tacita Capital Inc now owns 47,767 shares of the financial services provider’s stock valued at $2,585,000 after buying an additional 7,743 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analysts Set New Price Targets

BAM has been the subject of a number of research reports. Wells Fargo & Company cut 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 report on Thursday, March 20th. Scotiabank cut 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. Bank of America decreased their price target on shares of Brookfield Asset Management from $69.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday. StockNews.com raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Thursday, March 20th. Finally, UBS Group assumed coverage on shares of Brookfield Asset Management in a research note on Monday, December 16th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $58.04.

Brookfield Asset Management Stock Performance

BAM opened at $44.21 on Monday. Brookfield Asset Management Ltd. has a 1 year low of $37.29 and a 1 year high of $62.61. The firm has a 50 day moving average price of $53.89 and a 200 day moving average price of $53.75. The company has a market cap of $72.39 billion, a PE ratio of 33.49, a price-to-earnings-growth ratio of 1.92 and a beta of 1.62.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates 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, 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 business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were paid a $0.4375 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.96%. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio (DPR) is 132.58%.

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.