Man Group plc Has $1.80 Million Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Man Group plc lifted its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 15.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 33,199 shares of the financial services provider's stock after purchasing an additional 4,422 shares during the period. Man Group plc's holdings in Brookfield Asset Management were worth $1,799,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of Montreal Can increased its position in Brookfield Asset Management by 3.7% in the 4th quarter. Bank of Montreal Can now owns 9,575,446 shares of the financial services provider's stock valued at $518,655,000 after acquiring an additional 339,072 shares in the last quarter. TD Asset Management Inc. lifted its holdings in Brookfield Asset Management by 8.9% during the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider's stock worth $903,323,000 after buying an additional 1,359,126 shares in the last quarter. American Century Companies Inc. boosted its holdings in Brookfield Asset Management by 30.5% in the fourth quarter. American Century Companies Inc. now owns 74,389 shares of the financial services provider's stock valued at $4,033,000 after acquiring an additional 17,369 shares during the last quarter. Laffer Tengler Investments Inc. grew its position in shares of Brookfield Asset Management by 24.2% during the 4th quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider's stock worth $8,008,000 after buying an additional 28,768 shares during the period. Finally, Plato Investment Management Ltd grew its holdings in Brookfield Asset Management by 173.7% during the 4th quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider's stock worth $564,000 after acquiring an additional 6,580 shares during the period. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Trading Down 0.4%

Shares of Brookfield Asset Management stock traded down $0.24 on Thursday, reaching $55.97. 476,162 shares of the company were exchanged, compared to its average volume of 1,400,330. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $62.61. The company has a market capitalization of $90.25 billion, a price-to-earnings ratio of 42.41, a PEG ratio of 1.92 and a beta of 1.56. The company has a 50-day moving average of $52.11 and a 200 day moving average of $54.39.

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, hitting analysts' consensus estimates of $0.40. The company had revenue of $1.04 billion for 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%. Analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Asset Management's payout ratio is presently 124.11%.

Analysts Set New Price Targets

Several research firms have weighed in on BAM. TD Securities increased 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. Scotiabank raised their target price on Brookfield Asset Management from $58.00 to $59.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. BMO Capital Markets raised their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a "market perform" rating in a report on Thursday, February 13th. CIBC boosted their price objective on Brookfield Asset Management from $63.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Finally, Hsbc Global Res upgraded Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 14th. Two analysts have rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently 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.