Brookfield Asset Management Ltd. (NYSE:BAM) Holdings Boosted by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. raised its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 235,787 shares of the financial services provider’s stock after purchasing an additional 3,124 shares during the quarter. Tocqueville Asset Management L.P. owned 0.05% of Brookfield Asset Management worth $12,777,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of BAM. Principal Financial Group Inc. raised its position in Brookfield Asset Management by 0.3% during the third quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock valued at $419,400,000 after buying an additional 24,409 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of Brookfield Asset Management in the 3rd quarter valued at about $219,000. Natixis Advisors LLC lifted its position in shares of Brookfield Asset Management by 58.1% in the third quarter. Natixis Advisors LLC now owns 589,572 shares of the financial services provider’s stock worth $27,881,000 after purchasing an additional 216,591 shares in the last quarter. Pathstone Holdings LLC lifted its position in shares of Brookfield Asset Management by 1.0% in the third quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock worth $1,379,000 after purchasing an additional 278 shares in the last quarter. Finally, LGT Capital Partners LTD. boosted its holdings in shares of 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 purchasing an additional 55,000 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

BAM opened at $47.90 on Tuesday. Brookfield Asset Management Ltd. has a twelve month low of $37.29 and a twelve month high of $62.61. The business has a 50 day moving average price of $55.59 and a 200 day moving average price of $53.12. The firm has a market cap of $21.23 billion, a P/E ratio of 36.29, a price-to-earnings-growth ratio of 1.92 and a beta of 1.50.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data 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%. As a group, analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 yield of 3.65%. 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 132.58%.

Analysts Set New Price Targets

Several research firms have weighed in on BAM. TD Securities upped their price objective on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, February 10th. BMO Capital Markets upped their price target on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research note on Thursday, February 13th. CIBC lifted their price objective on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. 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 research report on Monday, January 13th. Finally, StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $56.71.

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.