Blue Sky Capital Consultants Group Inc. Buys New Shares in Brookfield Asset Management Ltd. (NYSE:BAM)

Blue Sky Capital Consultants Group Inc. purchased a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 43,600 shares of the financial services provider's stock, valued at approximately $2,363,000. Brookfield Asset Management comprises about 1.4% of Blue Sky Capital Consultants Group Inc.'s holdings, making the stock its 21st biggest position.

Several other hedge funds have also modified their holdings of the company. Tandem Capital Management Corp ADV increased its position in shares of Brookfield Asset Management by 0.4% during the 4th quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider's stock worth $2,119,000 after purchasing an additional 175 shares during the last quarter. 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 during the period. Gold Investment Management Ltd. grew its holdings in shares of Brookfield Asset Management by 0.5% during 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 during the period. NewEdge Advisors LLC lifted its position in Brookfield Asset Management by 61.0% during the fourth quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock valued at $47,000 after buying an additional 325 shares in the last quarter. Finally, Lindbrook Capital LLC increased its position in shares of Brookfield Asset Management by 20.5% in the fourth quarter. Lindbrook Capital LLC now owns 2,174 shares of the financial services provider's stock worth $118,000 after acquiring an additional 370 shares in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Price Performance

Shares of BAM stock traded up $0.97 during trading hours on Tuesday, reaching $57.53. 2,143,678 shares of the company were exchanged, compared to its average volume of 1,399,136. The company has a market cap of $92.77 billion, a price-to-earnings ratio of 43.58, a P/E/G ratio of 1.92 and a beta of 1.56. The stock's fifty day moving average is $51.82 and its two-hundred day moving average is $54.35. Brookfield Asset Management Ltd. has a fifty-two week low of $37.29 and a fifty-two week high of $62.61.

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 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.40. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.29 billion. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. On average, 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be given a dividend of $0.4375 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.75 annualized dividend and a yield of 3.04%. Brookfield Asset Management's dividend payout ratio (DPR) is presently 124.11%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BAM shares. Morgan Stanley increased their target price on Brookfield Asset Management from $50.00 to $54.00 and gave the company an "equal weight" rating in a research note on Friday, May 16th. Wall Street Zen upgraded Brookfield Asset Management from a "sell" rating to a "hold" rating in a research note on Tuesday, April 15th. Scotiabank raised their price objective on Brookfield Asset Management from $58.00 to $59.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. HSBC upgraded Brookfield Asset Management from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Finally, CIBC raised their price objective on Brookfield Asset Management from $63.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Brookfield Asset Management has a consensus rating of "Moderate Buy" and an average price target of $59.15.

Brookfield Asset Management 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.