Tacita Capital Inc Purchases 7,743 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Tacita Capital Inc lifted its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 19.3% during the 4th quarter, HoldingsChannel reports. The firm owned 47,767 shares of the financial services provider’s stock after acquiring an additional 7,743 shares during the period. Brookfield Asset Management accounts for about 1.8% of Tacita Capital Inc’s investment portfolio, making the stock its 19th biggest holding. Tacita Capital Inc’s holdings in Brookfield Asset Management were worth $2,585,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Plato Investment Management Ltd boosted its position in shares of Brookfield Asset Management by 173.7% during 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 in the last quarter. SBI Securities Co. Ltd. purchased a new position in Brookfield Asset Management during the fourth quarter valued at $177,000. Jones Financial Companies Lllp raised its stake in Brookfield Asset Management by 91.3% during the fourth quarter. Jones Financial Companies Lllp now owns 2,477 shares of the financial services provider’s stock valued at $134,000 after buying an additional 1,182 shares during the last quarter. Bridges Investment Management Inc. raised its stake in Brookfield Asset Management by 57.9% during the fourth quarter. Bridges Investment Management Inc. now owns 12,439 shares of the financial services provider’s stock valued at $674,000 after buying an additional 4,560 shares during the last quarter. Finally, Metis Global Partners LLC raised its stake in Brookfield Asset Management by 9.5% during the fourth quarter. Metis Global Partners LLC now owns 11,931 shares of the financial services provider’s stock valued at $647,000 after buying an additional 1,034 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on BAM. TD Securities lifted their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Scotiabank lowered their price objective on 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. Keefe, Bruyette & Woods lowered their price objective on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada lifted their price objective on Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, CIBC lifted their price objective 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. Three analysts have rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $56.71.

Brookfield Asset Management Stock Performance

Brookfield Asset Management stock opened at $55.41 on Tuesday. The stock has a market cap of $24.55 billion, a PE ratio of 41.98, a price-to-earnings-growth ratio of 1.92 and a beta of 1.46. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $62.61. The stock has a fifty day moving average of $56.80 and a 200 day moving average of $52.57.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data 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 return on equity of 81.16% and a net margin of 54.47%. As a group, sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal 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 given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Friday, February 28th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio is 132.58%.

About Brookfield Asset Management

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.