Brookfield Asset Management Ltd. (NYSE:BAM) Short Interest Update

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) saw a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 13,660,000 shares, a growth of 26.7% from the February 13th total of 10,780,000 shares. Based on an average daily volume of 1,410,000 shares, the days-to-cover ratio is currently 9.7 days. Approximately 2.8% of the shares of the company are sold short.

Brookfield Asset Management Trading Up 1.2 %

BAM opened at $48.51 on Wednesday. The company’s 50 day moving average is $55.48 and its 200-day moving average is $53.18. Brookfield Asset Management has a 1-year low of $37.29 and a 1-year high of $62.61. The company has a market cap of $21.50 billion, a P/E ratio of 36.75, a PEG ratio of 1.92 and a beta of 1.50.

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 for the quarter, beating 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%. On average, equities analysts forecast that Brookfield Asset Management will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date is Friday, February 28th. 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%.

Analyst Ratings Changes

BAM has been the topic of a number of recent research reports. BMO Capital Markets raised 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 report on Thursday, February 13th. StockNews.com lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Thursday, January 9th. Keefe, Bruyette & Woods reduced their price objective on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research note on Monday, January 13th. Wells Fargo & Company reduced their price objective on shares of Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating on the stock in a research note on Thursday, February 13th. Finally, UBS Group assumed coverage on shares of Brookfield Asset Management in a research note on Monday, December 16th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $56.71.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its holdings in Brookfield Asset Management by 11.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock valued at $77,293,000 after buying an additional 168,170 shares during the last quarter. Laffer Tengler Investments Inc. raised its holdings in 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. Avior Wealth Management LLC raised its holdings in Brookfield Asset Management by 2,857.1% in the 3rd quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock valued at $489,000 after buying an additional 10,000 shares during the last quarter. Plato Investment Management Ltd raised its holdings 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 purchasing an additional 6,580 shares during the last quarter. Finally, Tacita Capital Inc raised its holdings in Brookfield Asset Management by 19.3% during the 4th quarter. Tacita Capital Inc now owns 47,767 shares of the financial services provider’s stock worth $2,585,000 after purchasing an additional 7,743 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

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.