Heron Bay Capital Management Purchases Shares of 3,712 Brookfield Asset Management Ltd. (NYSE:BAM)

Heron Bay Capital Management purchased a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 3,712 shares of the financial services provider’s stock, valued at approximately $201,000.

Other hedge funds have also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC bought a new position in Brookfield Asset Management in the third quarter valued at approximately $27,000. Truvestments Capital LLC grew its stake in Brookfield Asset Management by 487.2% in the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 419 shares in the last quarter. Versant Capital Management Inc grew its stake in Brookfield Asset Management by 1,606.3% in the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 771 shares in the last quarter. Continuum Advisory LLC grew its stake in Brookfield Asset Management by 42.2% in 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 in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in Brookfield Asset Management by 35.1% in 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 in the last quarter. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Price Performance

Shares of NYSE BAM opened at $49.52 on Friday. The stock has a market capitalization of $21.94 billion, a PE ratio of 37.52, a P/E/G ratio of 1.92 and a beta of 1.50. The business has a fifty day moving average price of $55.18 and a two-hundred day moving average price of $53.27. Brookfield Asset Management Ltd. has a fifty-two week low of $37.29 and a fifty-two week high of $62.61.

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 return on equity of 81.16% and a net margin of 54.47%. On average, equities analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be issued a $0.4375 dividend. The ex-dividend date is Friday, February 28th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 annualized dividend and a yield of 3.53%. Brookfield Asset Management’s payout ratio is currently 132.58%.

Analyst Ratings Changes

BAM has been the subject of a number of recent analyst reports. CIBC raised their price objective on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. StockNews.com raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Thursday. Hsbc Global Res raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. Wells Fargo & Company cut their price objective on Brookfield Asset Management from $54.00 to $50.00 and set an “underweight” rating for the company in a research report on Thursday. Finally, TD Securities raised their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Brookfield Asset Management has a consensus rating of “Moderate Buy” and an average 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.