Brookfield Asset Management Ltd. (NYSE:BAM) Shares Purchased by TD Asset Management Inc.

TD Asset Management Inc. raised its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 8.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,664,426 shares of the financial services provider’s stock after purchasing an additional 1,359,126 shares during the quarter. Brookfield Asset Management accounts for approximately 0.8% of TD Asset Management Inc.’s portfolio, making the stock its 28th largest position. TD Asset Management Inc.’s holdings in Brookfield Asset Management were worth $903,323,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. Tandem Capital Management Corp ADV grew its stake in shares of Brookfield Asset Management by 0.4% in the fourth quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider’s stock valued at $2,119,000 after buying an additional 175 shares in the last quarter. Public Sector Pension Investment Board increased its stake in Brookfield Asset Management by 0.4% during the third quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider’s stock worth $2,201,000 after purchasing an additional 188 shares during the period. Gold Investment Management Ltd. increased its stake in Brookfield Asset Management by 0.5% during the fourth quarter. Gold Investment Management Ltd. now owns 41,889 shares of the financial services provider’s stock worth $2,271,000 after purchasing an additional 219 shares during the period. Procyon Advisors LLC lifted its position in shares of Brookfield Asset Management by 2.7% during the fourth quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider’s stock worth $505,000 after purchasing an additional 249 shares in the last quarter. Finally, Pathstone Holdings LLC boosted its stake in shares of Brookfield Asset Management by 1.0% in the third quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock valued at $1,379,000 after purchasing an additional 278 shares during the period. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Performance

BAM opened at $51.43 on Tuesday. The business’s 50-day simple moving average is $55.17 and its 200-day simple moving average is $53.44. The company has a market cap of $22.79 billion, a P/E ratio of 38.96, a PEG ratio of 1.92 and a beta of 1.50. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year 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, topping analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. As a group, 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 company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 132.58%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BAM. BMO Capital Markets upped their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research note on Thursday, February 13th. CIBC upped their price objective on Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. HSBC upgraded Brookfield Asset Management from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. TD Securities boosted their target price on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Finally, Keefe, Bruyette & Woods reduced their price target on 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. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.