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

Avanza Fonder AB increased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 37.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,249 shares of the financial services provider's stock after purchasing 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.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. RE Dickinson Investment Advisors LLC raised its holdings in shares of Brookfield Asset Management by 3.2% in the 4th quarter. RE Dickinson Investment Advisors LLC now owns 6,962 shares of the financial services provider's stock worth $377,000 after purchasing an additional 215 shares in the last quarter. Gold Investment Management Ltd. raised its holdings in shares of Brookfield Asset Management by 0.5% in the 4th quarter. Gold Investment Management Ltd. now owns 41,889 shares of the financial services provider's stock worth $2,271,000 after purchasing an additional 219 shares in the last quarter. NewEdge Advisors LLC raised its holdings 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 purchasing an additional 325 shares in the last quarter. Lindbrook Capital LLC raised its holdings in shares of Brookfield Asset Management by 20.5% in the 4th quarter. Lindbrook Capital LLC now owns 2,174 shares of the financial services provider's stock worth $118,000 after purchasing an additional 370 shares in the last quarter. Finally, Truvestments Capital LLC raised its holdings 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 acquiring an additional 419 shares during the period. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Stock Performance

Shares of BAM stock traded down $1.55 during mid-day trading on Friday, reaching $54.60. The company's stock had a trading volume of 1,238,987 shares, compared to its average volume of 1,460,140. Brookfield Asset Management Ltd. has a 1-year low of $37.30 and a 1-year high of $62.61. The company has a market cap of $88.04 billion, a P/E ratio of 41.36, a PEG ratio of 1.92 and a beta of 1.51. The firm's 50-day moving average is $53.99 and its two-hundred day moving average is $54.36.

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 (EPS) for the quarter, meeting analysts' consensus estimates of $0.40. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. The company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.29 billion. Sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Asset Management's dividend payout ratio is currently 124.11%.

Wall Street Analysts Forecast Growth

BAM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted 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. Bank of America upgraded shares of Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 price target on the stock in a report on Thursday, April 10th. TD Securities boosted their price target on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Jefferies Financial Group cut their price target on shares of Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. Finally, Scotiabank boosted their price target on shares of Brookfield Asset Management from $58.00 to $59.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Two investment 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 company's stock. According to data from MarketBeat, Brookfield Asset Management currently has an average rating of "Moderate Buy" and an average target price of $59.15.

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.