Gold Investment Management Ltd. Has $2.27 Million Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Gold Investment Management Ltd. increased its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,889 shares of the financial services provider’s stock after buying an additional 219 shares during the period. Gold Investment Management Ltd.’s holdings in Brookfield Asset Management were worth $2,271,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. RPg Family Wealth Advisory LLC bought a new stake in shares of Brookfield Asset Management during the 3rd quarter worth about $27,000. Truvestments Capital LLC lifted its holdings in Brookfield Asset Management by 487.2% in the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 419 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Brookfield Asset Management by 1,606.3% in the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 771 shares during the last quarter. Continuum Advisory LLC grew its holdings in Brookfield Asset Management by 42.2% during the third quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 329 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in Brookfield Asset Management by 35.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 319 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a report on Monday, January 13th. BMO Capital Markets raised their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research report on Thursday, February 13th. The Goldman Sachs Group boosted their price objective on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Scotiabank lowered their target price on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, Wells Fargo & Company cut their price target 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. 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 given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $56.71.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $46.89 on Monday. The stock has a market cap of $20.78 billion, a price-to-earnings ratio of 35.52, a P/E/G ratio of 1.92 and a beta of 1.50. The firm has a fifty day moving average of $55.73 and a 200-day moving average of $53.07. Brookfield Asset Management Ltd. has a 52-week low of $37.29 and a 52-week high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share 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%. 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 company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Friday, February 28th. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s payout ratio is currently 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.