Avanza Fonder AB Has $1.22 Million Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Avanza Fonder AB raised its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 37.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,249 shares of the financial services provider's stock after acquiring an additional 6,849 shares during the quarter. Avanza Fonder AB's holdings in Brookfield Asset Management were worth $1,223,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Blue Zone Wealth Advisors LLC increased its stake in Brookfield Asset Management by 13.0% during the first quarter. Blue Zone Wealth Advisors LLC now owns 171,939 shares of the financial services provider's stock worth $8,330,000 after acquiring an additional 19,832 shares during the last quarter. Procyon Advisors LLC lifted its holdings in Brookfield Asset Management by 6.2% in the first quarter. Procyon Advisors LLC now owns 9,889 shares of the financial services provider's stock worth $479,000 after acquiring an additional 577 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Brookfield Asset Management by 58.7% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,947 shares of the financial services provider's stock valued at $94,000 after acquiring an additional 720 shares during the period. Financial Management Professionals Inc. raised its holdings in shares of Brookfield Asset Management by 55.6% during the first quarter. Financial Management Professionals Inc. now owns 2,136 shares of the financial services provider's stock valued at $103,000 after buying an additional 763 shares during the last quarter. Finally, ST Germain D J Co. Inc. acquired a new position in Brookfield Asset Management during the 1st quarter worth $26,000. Hedge funds and other institutional investors own 68.41% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Jefferies Financial Group lowered their price target on Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. Bank of America raised shares of Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 price target for the company in a research report on Thursday, April 10th. TD Securities boosted their target price on Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. raised their price target on shares of Brookfield Asset Management from $51.00 to $55.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Finally, Wells Fargo & Company upped their target price on Brookfield Asset Management from $54.00 to $55.00 and gave the stock an "underweight" rating in a research report on Friday, May 23rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Brookfield Asset Management currently has an average rating of "Moderate Buy" and an average target price of $59.15.

Brookfield Asset Management Price Performance

Shares of Brookfield Asset Management stock traded up $0.38 during trading on Thursday, hitting $56.16. 1,303,959 shares of the company's stock traded hands, compared to its average volume of 1,460,824. Brookfield Asset Management Ltd. has a twelve month low of $37.30 and a twelve month high of $62.61. The company has a market cap of $90.56 billion, a PE ratio of 42.55, a PEG ratio of 1.92 and a beta of 1.51. The firm's fifty day moving average price is $53.50 and its 200 day moving average price is $54.40.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. The company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.29 billion. As a group, equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be given a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.12%. 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.