Bamco Inc. NY Buys 248,471 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Bamco Inc. NY grew its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 22.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,348,906 shares of the financial services provider's stock after purchasing an additional 248,471 shares during the quarter. Bamco Inc. NY owned about 0.30% of Brookfield Asset Management worth $73,097,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its holdings in shares of Brookfield Asset Management by 12.5% in the fourth quarter. Bank of America Corp DE now owns 1,939,109 shares of the financial services provider's stock worth $105,080,000 after buying an additional 215,670 shares in the last quarter. Benjamin Edwards Inc. grew its position in Brookfield Asset Management by 22.2% during the 4th quarter. Benjamin Edwards Inc. now owns 15,540 shares of the financial services provider's stock worth $842,000 after acquiring an additional 2,820 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of Brookfield Asset Management in the fourth quarter worth approximately $183,000. Ameriprise Financial Inc. increased its position in shares of Brookfield Asset Management by 139.2% in the fourth quarter. Ameriprise Financial Inc. now owns 406,376 shares of the financial services provider's stock valued at $22,237,000 after acquiring an additional 236,495 shares during the period. Finally, Davidson Kahn Capital Management LLC purchased a new position in Brookfield Asset Management during the 4th quarter valued at about $2,574,000. Institutional investors own 68.41% of the company's stock.

Wall Street Analysts Forecast Growth

BAM has been the subject of several research reports. CIBC upped 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. StockNews.com raised Brookfield Asset Management from a "sell" rating to a "hold" rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. boosted their target price on Brookfield Asset Management from $51.00 to $55.00 and gave the stock a "neutral" rating in a research report on Wednesday. Wells Fargo & Company raised their target price on shares of Brookfield Asset Management from $48.00 to $54.00 and gave the stock an "underweight" rating in a report on Wednesday. Finally, Jefferies Financial Group dropped their target price on Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $58.77.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM traded up $0.78 during trading on Wednesday, hitting $55.82. 2,414,446 shares of the company's stock were exchanged, compared to its average volume of 1,387,409. Brookfield Asset Management Ltd. has a 52-week low of $37.29 and a 52-week high of $62.61. The company has a market cap of $91.39 billion, a price-to-earnings ratio of 42.29, a PEG ratio of 1.92 and a beta of 1.56. The business's 50-day simple moving average is $49.58 and its 200 day simple moving average is $53.94.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (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 for the quarter, compared to the consensus estimate of $1.29 billion. On average, sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be given a dividend of $0.4375 per share. The ex-dividend date is Friday, May 30th. This represents a $1.75 annualized dividend and a yield of 3.14%. Brookfield Asset Management's dividend payout ratio (DPR) is currently 132.58%.

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.