Capital International Investors Raises Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Capital International Investors grew its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 0.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 16,116,518 shares of the financial services provider's stock after acquiring an additional 116,008 shares during the period. Capital International Investors owned about 3.64% of Brookfield Asset Management worth $873,354,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Truvestments Capital LLC boosted its position in shares of Brookfield Asset Management by 487.2% during the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 419 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new stake in shares of Brookfield Asset Management during the 4th quarter valued at $32,000. Versant Capital Management Inc grew its position in shares of Brookfield Asset Management by 1,606.3% in the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider's stock worth $44,000 after buying an additional 771 shares during the period. NewEdge Advisors LLC increased its stake in shares of Brookfield Asset Management by 61.0% in the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock worth $47,000 after acquiring an additional 325 shares in the last quarter. Finally, Redwood Park Advisors LLC purchased a new position in Brookfield Asset Management during the 4th quarter valued at about $64,000. Institutional investors own 68.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BAM shares. Wells Fargo & Company decreased their target price on shares of Brookfield Asset Management from $50.00 to $48.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. StockNews.com raised Brookfield Asset Management from a "sell" rating to a "hold" rating in a research report on Tuesday, April 15th. BMO Capital Markets boosted their target price on 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 reduced their price target on Brookfield Asset Management from $62.00 to $50.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Finally, Keefe, Bruyette & Woods dropped their price target 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 equities research analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $57.15.

Brookfield Asset Management Price Performance

Shares of BAM traded up $1.51 during trading hours on Thursday, hitting $52.10. The stock had a trading volume of 395,850 shares, compared to its average volume of 1,875,696. Brookfield Asset Management Ltd. has a 12 month low of $37.29 and a 12 month high of $62.61. The stock has a fifty day moving average price of $50.49 and a 200 day moving average price of $53.61. The firm has a market capitalization of $85.31 billion, a PE ratio of 39.52, a PEG ratio of 1.92 and a beta of 1.63.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, beating the consensus estimate 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 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend 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 (DPR) is currently 132.58%.

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.