Brookfield Asset Management Ltd. (NYSE:BAM) Shares Bought by Sprott Inc.

Sprott Inc. grew its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 21.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 25,886 shares of the financial services provider’s stock after acquiring an additional 4,501 shares during the period. Sprott Inc.’s holdings in Brookfield Asset Management were worth $1,403,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of Montreal Can boosted its holdings in Brookfield Asset Management by 0.5% during the 3rd quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider’s stock valued at $435,729,000 after acquiring an additional 43,134 shares during the period. Principal Financial Group Inc. lifted its position in shares of Brookfield Asset Management by 0.7% during the fourth quarter. Principal Financial Group Inc. now owns 8,930,366 shares of the financial services provider’s stock worth $483,963,000 after purchasing an additional 62,908 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Brookfield Asset Management by 10.3% in the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock valued at $188,057,000 after purchasing an additional 370,383 shares during the period. Douglass Winthrop Advisors LLC grew its holdings in shares of Brookfield Asset Management by 3.9% in the third quarter. Douglass Winthrop Advisors LLC now owns 2,670,488 shares of the financial services provider’s stock valued at $126,287,000 after purchasing an additional 99,020 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake 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 buying an additional 784,250 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on BAM. StockNews.com cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Thursday, January 9th. Scotiabank decreased their target price on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a report on Thursday, February 13th. TD Securities upped their price target on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Hsbc Global Res upgraded Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 14th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $56.71.

Brookfield Asset Management Trading Down 2.1 %

BAM stock opened at $56.86 on Wednesday. The stock has a market cap of $25.20 billion, a P/E ratio of 43.08, a PEG ratio of 1.92 and a beta of 1.46. Brookfield Asset Management Ltd. has a twelve month low of $37.29 and a twelve month high of $62.61. The company’s 50 day moving average is $56.64 and its two-hundred day moving average is $52.12.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. On average, equities research analysts predict 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be given a dividend of $0.4375 per share. The ex-dividend date is Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.08%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s payout ratio is 115.15%.

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.