Brookfield Asset Management Ltd. (NYSE:BAM) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. grew its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,901,942 shares of the financial services provider’s stock after purchasing an additional 263,660 shares during the quarter. Vanguard Group Inc. owned about 3.81% of Brookfield Asset Management worth $916,676,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Principal Financial Group Inc. boosted its position in shares of Brookfield Asset Management by 0.7% in the 4th quarter. Principal Financial Group Inc. now owns 8,930,366 shares of the financial services provider’s stock worth $483,963,000 after purchasing an additional 62,908 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Brookfield Asset Management by 103.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider’s stock worth $216,507,000 after acquiring an additional 2,031,995 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Brookfield Asset Management in the fourth quarter worth about $204,169,000. Madison Investment Advisors LLC purchased a new stake in shares of Brookfield Asset Management during the fourth quarter worth about $94,122,000. Finally, Geode Capital Management LLC increased its holdings in shares of Brookfield Asset Management by 11.6% during the third quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock valued at $77,293,000 after acquiring an additional 168,170 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Price Performance

Shares of NYSE BAM opened at $48.48 on Friday. The firm’s 50 day simple moving average is $54.84 and its 200-day simple moving average is $53.52. Brookfield Asset Management Ltd. has a 12 month low of $37.29 and a 12 month high of $62.61. The stock has a market capitalization of $79.37 billion, a price-to-earnings ratio of 36.72, a PEG ratio of 1.92 and a beta of 1.50.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. Analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm 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 $0.4375 dividend. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a yield of 3.61%. Brookfield Asset Management’s dividend payout ratio is presently 132.58%.

Wall Street Analyst Weigh In

Several research firms have weighed in on BAM. Keefe, Bruyette & Woods dropped their target price on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research report on Monday, January 13th. Hsbc Global Res upgraded shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 14th. Wells Fargo & Company cut their target price on Brookfield Asset Management from $54.00 to $50.00 and set an “underweight” rating on the stock in a research report on Thursday, March 20th. BMO Capital Markets lifted their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research report on Thursday, February 13th. Finally, CIBC increased their price objective on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Brookfield Asset Management presently has an average rating of “Moderate Buy” and a consensus target price of $56.38.

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.