Bessemer Group Inc. trimmed its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 92.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,788 shares of the financial services provider's stock after selling 337,106 shares during the period. Bessemer Group Inc.'s holdings in Brookfield Asset Management were worth $1,397,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Faithward Advisors LLC acquired a new position in Brookfield Asset Management during the 4th quarter valued at about $207,000. APG Asset Management N.V. bought a new stake in Brookfield Asset Management during the fourth quarter worth $11,700,000. FIL Ltd raised its position in Brookfield Asset Management by 3.9% in the 4th quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider's stock valued at $833,581,000 after buying an additional 574,978 shares during the last quarter. Bank of Montreal Can raised its position in Brookfield Asset Management by 3.7% in the 4th quarter. Bank of Montreal Can now owns 9,575,446 shares of the financial services provider's stock valued at $518,655,000 after buying an additional 339,072 shares during the last quarter. Finally, FMR LLC lifted its stake in Brookfield Asset Management by 2.3% during the 4th quarter. FMR LLC now owns 19,646,285 shares of the financial services provider's stock valued at $1,064,983,000 after acquiring an additional 447,642 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.
Brookfield Asset Management Stock Up 1.2 %
NYSE:BAM traded up $0.57 during trading hours on Friday, hitting $48.56. 1,224,243 shares of the company's stock traded hands, compared to its average volume of 1,431,510. The firm has a market cap of $79.51 billion, a P/E ratio of 36.79, a P/E/G ratio of 1.92 and a beta of 1.63. The business's fifty day simple moving average is $51.00 and its two-hundred day simple moving average is $53.66. Brookfield Asset Management Ltd. has a 52 week low of $37.29 and a 52 week high of $62.61.
Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its 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, analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.
Brookfield Asset Management Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were paid a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date was Friday, February 28th. This is a boost from Brookfield Asset Management's previous quarterly dividend of $0.38. Brookfield Asset Management's dividend payout ratio is currently 132.58%.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on BAM. BMO Capital Markets boosted 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 report on Thursday, February 13th. Morgan Stanley dropped their price target on Brookfield Asset Management from $62.00 to $50.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. HSBC upgraded Brookfield Asset Management from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Scotiabank reduced their price target on shares of Brookfield Asset Management from $62.50 to $58.00 and set a "sector outperform" rating for the company in a research report on Monday, April 7th. Finally, Keefe, Bruyette & Woods dropped their target price 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. Two research 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 company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $57.15.
View Our Latest Analysis on Brookfield Asset Management
About Brookfield Asset Management
(
Free Report)
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.
Further Reading
Before you consider Brookfield Asset Management, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Brookfield Asset Management wasn't on the list.
While Brookfield Asset Management currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
