Ameriprise Financial Inc. Buys 236,495 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Ameriprise Financial Inc. boosted its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 139.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 406,376 shares of the financial services provider's stock after buying an additional 236,495 shares during the period. Ameriprise Financial Inc. owned approximately 0.09% of Brookfield Asset Management worth $22,237,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of BAM. FNY Investment Advisers LLC acquired a new position in Brookfield Asset Management during the fourth quarter worth $195,000. Assenagon Asset Management S.A. acquired a new position in Brookfield Asset Management during the fourth quarter worth $215,000. Park Avenue Securities LLC raised its holdings in Brookfield Asset Management by 4.4% during the fourth quarter. Park Avenue Securities LLC now owns 19,771 shares of the financial services provider's stock worth $1,072,000 after buying an additional 837 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Brookfield Asset Management by 35.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider's stock worth $66,000 after buying an additional 319 shares during the last quarter. Finally, Ritholtz Wealth Management grew its stake in shares of Brookfield Asset Management by 166.9% in the 4th quarter. Ritholtz Wealth Management now owns 13,079 shares of the financial services provider's stock worth $709,000 after acquiring an additional 8,179 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BAM. HSBC upgraded shares of Brookfield Asset Management from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Hsbc Global Res upgraded shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a report on Friday, February 14th. Wells Fargo & Company raised their price objective on shares of Brookfield Asset Management from $48.00 to $54.00 and gave the stock an "underweight" rating in a report on Wednesday, May 7th. CIBC raised their price objective on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Finally, BMO Capital Markets raised their price objective on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a "market perform" rating in a report on Thursday, February 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Brookfield Asset Management has a consensus rating of "Moderate Buy" and a consensus price target of $59.08.

Brookfield Asset Management Trading Up 0.3%

Shares of BAM stock traded up $0.17 during trading hours on Friday, reaching $59.72. The stock had a trading volume of 4,782,497 shares, compared to its average volume of 1,383,017. The stock's fifty day simple moving average is $50.62 and its 200 day simple moving average is $54.25. Brookfield Asset Management Ltd. has a 12 month low of $37.29 and a 12 month high of $62.61. The firm has a market capitalization of $96.29 billion, a PE ratio of 45.24, a PEG ratio of 1.92 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, meeting analysts' consensus estimates of $0.40. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.29 billion. As a group, equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be given a $0.4375 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.93%. Brookfield Asset Management's dividend payout ratio (DPR) is currently 124.11%.

Brookfield Asset Management 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.