4,224 Shares in Brookfield Asset Management Ltd. (NYSE:BAM) Bought by Focus Financial Network Inc.

Focus Financial Network Inc. bought a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,224 shares of the financial services provider’s stock, valued at approximately $229,000.

Several other institutional investors have also recently bought and sold shares of BAM. Connor Clark & Lunn Investment Management Ltd. increased its position in Brookfield Asset Management by 66.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock worth $92,896,000 after purchasing an additional 784,250 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of Brookfield Asset Management during the 3rd quarter valued at $19,075,000. CIBC Asset Management Inc grew its position in Brookfield Asset Management by 10.3% during the 3rd quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock worth $188,057,000 after acquiring an additional 370,383 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in Brookfield Asset Management in the 3rd quarter worth about $14,216,000. Finally, Bamco Inc. NY raised its position in Brookfield Asset Management by 31.5% in the third quarter. Bamco Inc. NY now owns 1,100,435 shares of the financial services provider’s stock valued at $52,040,000 after purchasing an additional 263,532 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Stock Up 4.0 %

Brookfield Asset Management stock opened at $59.86 on Friday. The company has a market capitalization of $26.53 billion, a PE ratio of 52.98, a PEG ratio of 2.18 and a beta of 1.46. Brookfield Asset Management Ltd. has a 12-month low of $37.29 and a 12-month high of $62.61. The firm’s fifty day moving average is $56.40 and its 200 day moving average is $50.94.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. Sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.45 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. Stockholders of record on Friday, February 28th will be issued a dividend of $0.4375 per share. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.75 annualized dividend and a dividend yield of 2.92%. Brookfield Asset Management’s payout ratio is currently 132.58%.

Analysts Set New Price Targets

BAM has been the topic of several research reports. StockNews.com cut 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. The Goldman Sachs Group raised their price target on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft lifted 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. Finally, Scotiabank decreased their price target on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Brookfield Asset Management has a consensus rating of “Hold” and an average price target 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.