Denali Advisors LLC Makes New $341,000 Investment in Brookfield Asset Management Ltd. (NYSE:BAM)

Denali Advisors LLC bought a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 6,288 shares of the financial services provider’s stock, valued at approximately $341,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Brookfield Asset Management by 11.6% during the third quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock worth $77,293,000 after acquiring an additional 168,170 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in Brookfield Asset Management by 2,857.1% during the third quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock worth $489,000 after acquiring an additional 10,000 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Brookfield Asset Management by 5.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 834,929 shares of the financial services provider’s stock worth $39,516,000 after acquiring an additional 45,670 shares in the last quarter. LGT Capital Partners LTD. lifted its holdings in Brookfield Asset Management by 11.5% during the third quarter. LGT Capital Partners LTD. now owns 534,000 shares of the financial services provider’s stock worth $25,273,000 after acquiring an additional 55,000 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in Brookfield Asset Management by 10.3% during the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock worth $188,057,000 after acquiring an additional 370,383 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on BAM. CIBC boosted their price target on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. UBS Group began coverage on Brookfield Asset Management in a report on Monday, December 16th. They issued a “buy” rating on the stock. Wells Fargo & Company cut their price target on Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating on the stock in a report on Thursday, February 13th. StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. Finally, BMO Capital Markets boosted their price target 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. Three analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $56.71.

Brookfield Asset Management Stock Down 2.1 %

Shares of NYSE BAM opened at $56.24 on Friday. The business’s 50 day moving average price is $56.75 and its two-hundred day moving average price is $52.18. The company has a market cap of $24.92 billion, a PE ratio of 42.61, a price-to-earnings-growth 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.

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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. As a group, research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be issued a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s payout ratio is currently 115.15%.

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.