CANADA LIFE ASSURANCE Co Has $16.21 Million Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

CANADA LIFE ASSURANCE Co trimmed its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 300,112 shares of the financial services provider's stock after selling 20,104 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.07% of Brookfield Asset Management worth $16,211,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Brookfield Asset Management during the 4th quarter worth about $287,361,000. William Blair Investment Management LLC acquired a new stake in Brookfield Asset Management in the fourth quarter worth $204,169,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings 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 buying an additional 2,031,995 shares during the period. Madison Investment Advisors LLC bought a new stake in shares of Brookfield Asset Management in the 4th quarter valued at $94,122,000. Finally, TD Asset Management Inc. lifted its holdings in Brookfield Asset Management by 8.9% during the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider's stock worth $903,323,000 after acquiring an additional 1,359,126 shares in the last quarter. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Price Performance

NYSE BAM traded up $0.54 on Friday, reaching $52.97. The stock had a trading volume of 1,753,870 shares, compared to its average volume of 1,436,601. The company has a market cap of $86.73 billion, a P/E ratio of 40.13, a price-to-earnings-growth ratio of 1.92 and a beta of 1.63. The firm has a fifty day moving average of $50.19 and a two-hundred day moving average of $53.68. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $62.61.

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, topping 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%. Research analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently declared 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 3.30%. The ex-dividend date was Friday, February 28th. This is an increase from Brookfield Asset Management's previous quarterly dividend of $0.38. Brookfield Asset Management's payout ratio is 132.58%.

Wall Street Analyst Weigh In

BAM has been the topic of several recent analyst reports. CIBC lifted their price objective on Brookfield Asset Management from $63.00 to $70.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. HSBC raised Brookfield Asset Management from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. BMO Capital Markets upped their price objective on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a "market perform" rating in a research report on Thursday, February 13th. Morgan Stanley cut their target price on Brookfield Asset Management from $62.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Brookfield Asset Management from $57.00 to $56.00 and set an "underperform" rating on the stock in a research report 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 assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $57.15.

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.