Smith Salley Wealth Management Has $6.05 Million Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Smith Salley Wealth Management boosted its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,718 shares of the financial services provider’s stock after acquiring an additional 954 shares during the period. Smith Salley Wealth Management’s holdings in Brookfield Asset Management were worth $6,054,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BAM. The Manufacturers Life Insurance Company lifted its position in shares of Brookfield Asset Management by 68.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock worth $260,770,000 after purchasing an additional 2,788,611 shares during the last quarter. Mackenzie Financial Corp increased its position in Brookfield Asset Management by 19.5% in the 2nd quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock worth $514,867,000 after buying an additional 2,205,040 shares during the period. Dimensional Fund Advisors LP acquired a new position in shares of Brookfield Asset Management during the second quarter worth approximately $42,160,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Brookfield Asset Management by 66.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock worth $92,896,000 after acquiring an additional 784,250 shares during the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in Brookfield Asset Management during the third quarter worth $19,075,000. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Trading Up 0.9 %

NYSE BAM opened at $55.56 on Friday. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $59.58. The company has a 50 day moving average of $55.82 and a 200-day moving average of $48.59. The firm has a market cap of $24.62 billion, a price-to-earnings ratio of 49.17, a PEG ratio of 1.75 and a beta of 1.45.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. During the same period last year, the firm posted $0.35 EPS. On average, analysts forecast that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.52 annualized dividend and a yield of 2.74%. Brookfield Asset Management’s dividend payout ratio (DPR) is 134.51%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. UBS Group started coverage on Brookfield Asset Management in a research note on Monday, December 16th. They set a “buy” rating on the stock. Wells Fargo & Company reduced their price objective on Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. The Goldman Sachs Group upped their target price on Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, TD Securities boosted their price target on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $54.38.

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.