Fiera Capital Corp Boosts Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Fiera Capital Corp grew its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 37.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,174 shares of the financial services provider's stock after acquiring an additional 35,758 shares during the period. Fiera Capital Corp's holdings in Brookfield Asset Management were worth $6,356,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BAM. Kirr Marbach & Co. LLC IN lifted its position in shares of Brookfield Asset Management by 0.6% in the 1st quarter. Kirr Marbach & Co. LLC IN now owns 35,400 shares of the financial services provider's stock worth $1,715,000 after purchasing an additional 203 shares during the period. RE Dickinson Investment Advisors LLC lifted its position 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. Focus Financial Network Inc. lifted its position in shares of Brookfield Asset Management by 5.2% in the 1st quarter. Focus Financial Network Inc. now owns 4,442 shares of the financial services provider's stock worth $215,000 after purchasing an additional 218 shares during the period. NewEdge Advisors LLC lifted its position 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 during the period. Finally, Capital International Ltd. CA lifted its position in shares of Brookfield Asset Management by 0.3% in the 4th quarter. Capital International Ltd. CA now owns 161,077 shares of the financial services provider's stock worth $8,729,000 after purchasing an additional 477 shares during the period. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Stock Performance

BAM stock traded down $1.86 during midday trading on Friday, hitting $59.81. 2,106,115 shares of the stock traded hands, compared to its average volume of 1,710,764. The firm has a market cap of $97.95 billion, a P/E ratio of 42.42, a PEG ratio of 2.38 and a beta of 1.44. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.31 and a quick ratio of 1.31. The stock's fifty day simple moving average is $57.27 and its 200-day simple moving average is $54.85. Brookfield Asset Management Ltd. has a 1-year low of $38.18 and a 1-year high of $63.53.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. On average, analysts expect 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 declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 30th were given a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 2.9%. The ex-dividend date was Friday, May 30th. Brookfield Asset Management's dividend payout ratio (DPR) is currently 124.11%.

Analysts Set New Price Targets

A number of research firms recently commented on BAM. Wall Street Zen raised shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a research report on Tuesday, April 15th. Scotiabank reissued an "outperform" rating and set a $66.00 target price (down previously from $69.00) on shares of Brookfield Asset Management in a research report on Wednesday. National Bankshares set a $71.00 target price on shares of Brookfield Asset Management and gave the company an "outperform" rating in a research report on Tuesday. JPMorgan Chase & Co. increased their target price on shares of Brookfield Asset Management from $51.00 to $55.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Finally, TD Securities increased their target price on shares of Brookfield Asset Management from $66.00 to $75.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $62.06.

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.