Brookfield Asset Management Ltd. (NYSE:BAM) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN increased its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 650,628 shares of the financial services provider’s stock after acquiring an additional 43,484 shares during the period. Wells Fargo & Company MN’s holdings in Brookfield Asset Management were worth $35,268,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in Brookfield Asset Management by 0.3% in the third quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock valued at $419,400,000 after purchasing an additional 24,409 shares during the last quarter. Verition Fund Management LLC acquired a new stake in Brookfield Asset Management in the 3rd quarter valued at about $391,000. Wellington Management Group LLP increased its holdings in Brookfield Asset Management by 2.5% during the 3rd quarter. Wellington Management Group LLP now owns 350,268 shares of the financial services provider’s stock valued at $16,565,000 after acquiring an additional 8,591 shares in the last quarter. MML Investors Services LLC raised its position in Brookfield Asset Management by 7.3% during the third quarter. MML Investors Services LLC now owns 17,511 shares of the financial services provider’s stock worth $828,000 after acquiring an additional 1,193 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Brookfield Asset Management in the third quarter valued at about $1,634,000. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Price Performance

Shares of BAM stock opened at $46.05 on Friday. The stock has a market cap of $75.39 billion, a P/E ratio of 34.88, a price-to-earnings-growth ratio of 1.92 and a beta of 1.63. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $62.61. The stock has a fifty day moving average price of $52.08 and a 200 day moving average price of $53.58.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were issued a $0.4375 dividend. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date was Friday, February 28th. This represents a $1.75 annualized dividend and a dividend yield of 3.80%. Brookfield Asset Management’s payout ratio is 132.58%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BAM. HSBC raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. TD Securities raised their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Keefe, Bruyette & Woods dropped their price target on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research report on Monday, January 13th. BMO Capital Markets boosted their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a report on Thursday, February 13th. Finally, Bank of America upgraded Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $57.75.

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.