Brookfield Asset Management Ltd. (NYSE:BAM) Shares Bought by Mufg Securities Canada LTD.

Mufg Securities Canada LTD. grew its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 71.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 568,179 shares of the financial services provider’s stock after acquiring an additional 237,323 shares during the period. Brookfield Asset Management comprises approximately 1.1% of Mufg Securities Canada LTD.’s portfolio, making the stock its 29th largest position. Mufg Securities Canada LTD. owned 0.13% of Brookfield Asset Management worth $30,795,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of BAM. Summitry LLC raised its position in Brookfield Asset Management by 1.6% in the 4th quarter. Summitry LLC now owns 127,022 shares of the financial services provider’s stock valued at $6,883,000 after purchasing an additional 1,961 shares in the last quarter. TD Asset Management Inc. increased its stake in shares of Brookfield Asset Management by 8.9% during the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock worth $903,323,000 after buying an additional 1,359,126 shares during the period. Templeton & Phillips Capital Management LLC purchased a new position in Brookfield Asset Management in the fourth quarter worth approximately $1,797,000. Mountain Hill Investment Partners Corp. purchased a new position in Brookfield Asset Management in the fourth quarter worth approximately $32,000. Finally, Vanguard Group Inc. grew its holdings in Brookfield Asset Management by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 16,901,942 shares of the financial services provider’s stock worth $916,676,000 after acquiring an additional 263,660 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BAM. BMO Capital Markets boosted 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. StockNews.com upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Thursday, March 20th. Hsbc Global Res upgraded Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 14th. TD Securities upped their price target on Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a report on Monday, February 10th. Finally, HSBC raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Friday, February 14th. 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.38.

Brookfield Asset Management Trading Up 0.6 %

BAM stock opened at $51.74 on Wednesday. The company’s 50-day moving average price is $55.15 and its 200 day moving average price is $53.51. Brookfield Asset Management Ltd. has a 52 week low of $37.29 and a 52 week high of $62.61. The company has a market cap of $22.93 billion, a P/E ratio of 39.20, a P/E/G 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 earnings per share (EPS) for the quarter, topping 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 research analysts expect 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 disclosed 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 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 3.38%. Brookfield Asset Management’s dividend payout ratio is presently 132.58%.

Brookfield Asset Management 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.