Schroder Investment Management Group Makes New $8.93 Million Investment in Brookfield Asset Management Ltd. (NYSE:BAM)

Schroder Investment Management Group purchased a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 164,734 shares of the financial services provider’s stock, valued at approximately $8,927,000.

Several other hedge funds have also made changes to their positions in BAM. Arrowstreet Capital Limited Partnership purchased a new position in Brookfield Asset Management during the 4th quarter worth approximately $18,785,000. Allianz SE purchased a new position in shares of Brookfield Asset Management during the fourth quarter valued at $401,000. Brown Brothers Harriman & Co. raised its position in Brookfield Asset Management by 9.3% during the fourth quarter. Brown Brothers Harriman & Co. now owns 8,839 shares of the financial services provider’s stock valued at $479,000 after buying an additional 750 shares during the period. Norges Bank purchased a new stake in Brookfield Asset Management in the 4th quarter worth about $287,361,000. Finally, Blair William & Co. IL lifted its stake in Brookfield Asset Management by 39.9% in the 4th quarter. Blair William & Co. IL now owns 27,037 shares of the financial services provider’s stock worth $1,465,000 after acquiring an additional 7,716 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

BAM has been the topic of a number of research reports. Keefe, Bruyette & Woods dropped their target price on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a report on Monday, January 13th. TD Securities increased their target price on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. HSBC raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Wells Fargo & Company dropped their price target on shares of Brookfield Asset Management from $54.00 to $50.00 and set an “underweight” rating on the stock in a research note on Thursday, March 20th. Finally, StockNews.com upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Thursday, March 20th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $58.04.

Brookfield Asset Management Stock Down 6.0 %

NYSE:BAM opened at $44.21 on Friday. The company’s 50 day moving average is $53.89 and its 200-day moving average is $53.64. The firm has a market cap of $72.39 billion, a price-to-earnings ratio of 33.49, a P/E/G ratio of 1.92 and a beta of 1.62. Brookfield Asset Management Ltd. has a 12 month low of $37.29 and a 12 month high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results 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%. Research analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were issued a $0.4375 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a yield of 3.96%. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio (DPR) is 132.58%.

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.