Northwest & Ethical Investments L.P. Has $10.90 Million Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Northwest & Ethical Investments L.P. lowered its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 26.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 201,351 shares of the financial services provider’s stock after selling 71,811 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Brookfield Asset Management were worth $10,901,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in BAM. Bank of Montreal Can grew its holdings in Brookfield Asset Management by 0.5% in 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 buying an additional 43,134 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Brookfield Asset Management by 0.7% in the fourth quarter. Principal Financial Group Inc. now owns 8,930,366 shares of the financial services provider’s stock valued at $483,963,000 after acquiring an additional 62,908 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Brookfield Asset Management by 103.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider’s stock valued at $216,507,000 after acquiring an additional 2,031,995 shares in the last quarter. William Blair Investment Management LLC bought a new position in Brookfield Asset Management during the fourth quarter worth about $204,169,000. Finally, Douglass Winthrop Advisors LLC raised its stake in Brookfield Asset Management by 3.9% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 2,670,488 shares of the financial services provider’s stock worth $126,287,000 after purchasing an additional 99,020 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BAM shares. 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. StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Thursday, January 9th. Hsbc Global Res upgraded Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods cut their target price on 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. Finally, Wells Fargo & Company decreased their price target on Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating on the stock in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $56.71.

Brookfield Asset Management Stock Up 2.6 %

Brookfield Asset Management stock opened at $49.76 on Thursday. The stock has a market cap of $22.05 billion, a PE ratio of 37.70, a P/E/G ratio of 1.92 and a beta of 1.50. Brookfield Asset Management Ltd. has a 12-month low of $37.29 and a 12-month high of $62.61. The business’s 50-day moving average price is $55.36 and its two-hundred day moving average price is $53.15.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) 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%. As a group, 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 declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.52%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, February 28th. Brookfield Asset Management’s dividend payout ratio is presently 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.