Brookfield Asset Management Ltd. (NYSE:BAM) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE grew its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 12.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,939,109 shares of the financial services provider's stock after purchasing an additional 215,670 shares during the quarter. Bank of America Corp DE owned 0.44% of Brookfield Asset Management worth $105,080,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. JCIC Asset Management Inc. increased its stake in Brookfield Asset Management by 1.4% in the fourth quarter. JCIC Asset Management Inc. now owns 84,179 shares of the financial services provider's stock valued at $4,562,000 after purchasing an additional 1,159 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Brookfield Asset Management during the fourth quarter worth approximately $195,000. Assenagon Asset Management S.A. purchased a new position in shares of Brookfield Asset Management during the fourth quarter worth approximately $215,000. Park Avenue Securities LLC grew its position in shares of 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 acquiring an additional 837 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of 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 purchasing an additional 319 shares during the period. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BAM shares. Bank of America raised Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 price target for the company in a report on Thursday, April 10th. HSBC upgraded Brookfield Asset Management from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. StockNews.com upgraded shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a research report on Tuesday, April 15th. CIBC increased their target price on Brookfield Asset Management from $63.00 to $70.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Finally, TD Securities lifted their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $58.77.

Brookfield Asset Management Stock Up 1.0%

Shares of BAM stock traded up $0.60 during trading hours on Wednesday, hitting $58.92. 1,613,812 shares of the company were exchanged, compared to its average volume of 1,372,251. The firm has a market cap of $96.47 billion, a PE ratio of 44.64, a PEG ratio of 1.92 and a beta of 1.56. Brookfield Asset Management Ltd. has a 1 year low of $37.29 and a 1 year high of $62.61. The firm has a fifty day moving average of $49.91 and a 200 day moving average of $54.13.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share for the quarter, hitting the consensus estimate of $0.40. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. Analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

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 paid a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Friday, May 30th. Brookfield Asset Management's dividend payout ratio is currently 124.11%.

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.