Kovack Advisors Inc. Buys 926 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Kovack Advisors Inc. boosted its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 13.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,972 shares of the financial services provider’s stock after purchasing an additional 926 shares during the quarter. Kovack Advisors Inc.’s holdings in Brookfield Asset Management were worth $432,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tandem Capital Management Corp ADV lifted its holdings in shares of Brookfield Asset Management by 0.4% in the 4th quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider’s stock worth $2,119,000 after buying an additional 175 shares during the period. Public Sector Pension Investment Board lifted its holdings in shares of Brookfield Asset Management by 0.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider’s stock worth $2,201,000 after buying an additional 188 shares during the period. Procyon Advisors LLC lifted its holdings in shares of Brookfield Asset Management by 2.7% in the 4th quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider’s stock worth $505,000 after buying an additional 249 shares during the period. Pathstone Holdings LLC lifted its holdings in shares of Brookfield Asset Management by 1.0% in the 3rd quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock worth $1,379,000 after buying an additional 278 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Brookfield Asset Management by 35.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock worth $66,000 after buying an additional 319 shares during the period. Institutional investors own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wells Fargo & Company lowered their target price on Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating for the company in a report on Thursday, February 13th. TD Securities upped their target price on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft upped their target price on Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, November 11th. The Goldman Sachs Group upped their target price on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Thursday, January 9th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Brookfield Asset Management presently has a consensus rating of “Hold” and a consensus price target of $56.71.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $56.32 on Friday. Brookfield Asset Management Ltd. has a fifty-two week low of $37.29 and a fifty-two week high of $62.61. The firm has a market capitalization of $24.96 billion, a price-to-earnings ratio of 42.67, a PEG ratio of 1.92 and a beta of 1.46. The stock’s 50-day simple moving average is $56.79 and its 200-day simple moving average is $52.30.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, topping 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%. As a group, equities analysts forecast 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 issued a dividend of $0.4375 per share. The ex-dividend date is Friday, February 28th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.11%. Brookfield Asset Management’s payout ratio is 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.