Brookfield Asset Management Ltd. (NYSE:BAM) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 13.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 339,948 shares of the financial services provider’s stock after acquiring an additional 39,340 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Brookfield Asset Management were worth $18,422,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in shares of Brookfield Asset Management by 11.6% in 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 purchasing an additional 168,170 shares in the last quarter. Laffer Tengler Investments Inc. increased its holdings in Brookfield Asset Management by 24.2% in the fourth quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider’s stock valued at $8,008,000 after buying an additional 28,768 shares during the last quarter. Avior Wealth Management LLC raised its stake in Brookfield Asset Management by 2,857.1% during the third quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock valued at $489,000 after buying an additional 10,000 shares in the last quarter. Plato Investment Management Ltd lifted its holdings in Brookfield Asset Management by 173.7% during the 4th quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider’s stock worth $564,000 after buying an additional 6,580 shares during the last quarter. Finally, Tacita Capital Inc grew its position in shares of Brookfield Asset Management by 19.3% in the 4th quarter. Tacita Capital Inc now owns 47,767 shares of the financial services provider’s stock worth $2,585,000 after acquiring an additional 7,743 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $46.66 on Wednesday. Brookfield Asset Management Ltd. has a 1 year low of $37.29 and a 1 year high of $62.61. The firm has a market capitalization of $20.67 billion, a PE ratio of 35.34, a price-to-earnings-growth ratio of 1.92 and a beta of 1.50. The stock has a fifty day moving average of $56.19 and a two-hundred day moving average of $52.97.

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, 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%. Equities research analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a dividend of $0.4375 per share. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Friday, February 28th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 132.58%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BAM. Scotiabank dropped their price target on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. StockNews.com cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. HSBC raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Wells Fargo & Company cut their target price on shares of Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating on the stock in a report on Thursday, February 13th. Finally, Hsbc Global Res raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $56.71.

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.