Faithward Advisors LLC Invests $207,000 in Brookfield Asset Management Ltd. (NYSE:BAM)

Faithward Advisors LLC bought a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,829 shares of the financial services provider’s stock, valued at approximately $207,000.

Several other hedge funds and other institutional investors have also made changes to their positions in BAM. Geode Capital Management LLC increased its stake in Brookfield Asset Management by 11.6% in the third quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock valued at $77,293,000 after purchasing an additional 168,170 shares during the last quarter. TD Asset Management Inc. grew its position in shares of Brookfield Asset Management by 8.9% in the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock valued at $903,323,000 after buying an additional 1,359,126 shares during the last quarter. Laffer Tengler Investments Inc. grew its position in shares of Brookfield Asset Management by 24.2% in the 4th quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider’s stock valued at $8,008,000 after buying an additional 28,768 shares during the last quarter. Plato Investment Management Ltd raised its stake in Brookfield Asset Management by 173.7% during the 4th quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider’s stock worth $564,000 after acquiring an additional 6,580 shares in the last quarter. Finally, Tacita Capital Inc lifted its position in Brookfield Asset Management by 19.3% in the fourth quarter. Tacita Capital Inc now owns 47,767 shares of the financial services provider’s stock valued at $2,585,000 after acquiring an additional 7,743 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BAM shares. Jefferies Financial Group dropped their price objective on Brookfield Asset Management from $52.00 to $46.00 and set a “hold” rating on the stock in a report on Tuesday. StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Monday. Wells Fargo & Company reduced their price objective on Brookfield Asset Management from $50.00 to $48.00 and set an “underweight” rating for the company in a research note on Tuesday. BMO Capital Markets increased their price objective on Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a report on Thursday, February 13th. Finally, Hsbc Global Res raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Brookfield Asset Management currently has a consensus rating of “Hold” and an average price target of $57.75.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock opened at $42.86 on Wednesday. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $62.61. The company has a market cap of $70.18 billion, a P/E ratio of 32.47, a PEG ratio of 1.92 and a beta of 1.63. The firm has a fifty day moving average of $52.84 and a two-hundred day moving average of $53.62.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted 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 net margin of 54.47% and a return on equity of 81.16%. As a group, equities analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were paid a $0.4375 dividend. The ex-dividend date was Friday, February 28th. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 dividend on an annualized basis and a dividend yield of 4.08%. Brookfield Asset Management’s payout ratio is 132.58%.

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.