Brookfield Asset Management (NYSE:BAM) Stock Price Down 5.1% - Here's What Happened

Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A shares dropped 5.1% during trading on Thursday . The stock traded as low as $49.92 and last traded at $51.20. Approximately 402,479 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 1,239,891 shares. The stock had previously closed at $53.97.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. HSBC raised Brookfield Asset Management from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Hsbc Global Res raised shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a report on Friday, February 14th. Wells Fargo & Company decreased their price target on shares of Brookfield Asset Management from $55.00 to $54.00 and set an "underweight" rating for the company in a report on Thursday, February 13th. CIBC increased their price objective on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Finally, TD Securities upped their target price on Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a report on Monday, February 10th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Brookfield Asset Management has an average rating of "Hold" and an average price target of $56.71.

Brookfield Asset Management Stock Performance

The business's 50 day moving average price is $56.06 and its two-hundred day moving average price is $52.93. The company has a market capitalization of $21.04 billion, a price-to-earnings ratio of 35.97, a price-to-earnings-growth ratio of 1.92 and a beta of 1.50.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. On average, sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a dividend of $0.4375 per share. This is a positive change from Brookfield Asset Management's previous quarterly dividend of $0.38. This represents a $1.75 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date is Friday, February 28th. Brookfield Asset Management's payout ratio is presently 132.58%.

Institutional Investors Weigh In On Brookfield Asset Management

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in Brookfield Asset Management during the fourth quarter valued at about $287,361,000. William Blair Investment Management LLC acquired a new stake in shares of Brookfield Asset Management during the fourth quarter valued at approximately $204,169,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Brookfield Asset Management by 103.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider's stock valued at $216,507,000 after acquiring an additional 2,031,995 shares in the last quarter. Madison Investment Advisors LLC acquired a new position in Brookfield Asset Management in the 4th quarter worth approximately $94,122,000. Finally, TD Asset Management Inc. boosted its stake in Brookfield Asset Management by 8.9% in the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider's stock worth $903,323,000 after purchasing an additional 1,359,126 shares during the period. Institutional investors and hedge funds own 68.41% of the company's stock.

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.