Nomura Holdings Inc. Purchases Shares of 25,881 Brookfield Asset Management Ltd. (NYSE:BAM)

Nomura Holdings Inc. purchased a new position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 25,881 shares of the financial services provider's stock, valued at approximately $1,402,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. bought a new stake in Brookfield Asset Management during the fourth quarter valued at about $215,000. Park Avenue Securities LLC lifted its position in shares of Brookfield Asset Management by 4.4% during the 4th quarter. Park Avenue Securities LLC now owns 19,771 shares of the financial services provider's stock valued at $1,072,000 after buying an additional 837 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Brookfield Asset Management by 35.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider's stock valued at $66,000 after acquiring an additional 319 shares during the period. Ritholtz Wealth Management increased its holdings in Brookfield Asset Management by 166.9% in the 4th quarter. Ritholtz Wealth Management now owns 13,079 shares of the financial services provider's stock worth $709,000 after acquiring an additional 8,179 shares in the last quarter. Finally, Procyon Advisors LLC raised its stake in Brookfield Asset Management by 2.7% during the 4th quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider's stock worth $505,000 after acquiring an additional 249 shares during the period. 68.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on BAM. CIBC upped their price target on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. StockNews.com raised shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a report on Tuesday, April 15th. HSBC raised Brookfield Asset Management from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Bank of America raised Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 price objective for the company in a research note on Thursday, April 10th. Finally, Morgan Stanley lifted 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. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $59.08.

Brookfield Asset Management Stock Down 2.5%

NYSE:BAM traded down $1.46 during mid-day trading on Wednesday, hitting $57.36. 1,885,719 shares of the stock traded hands, compared to its average volume of 1,387,118. Brookfield Asset Management Ltd. has a 52 week low of $37.29 and a 52 week high of $62.61. The stock has a market capitalization of $92.49 billion, a price-to-earnings ratio of 43.45, a PEG ratio of 1.92 and a beta of 1.56. The firm's 50 day moving average is $51.12 and its two-hundred day moving average is $54.33.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share for the quarter, meeting analysts' consensus estimates of $0.40. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.29 billion. As a group, research analysts predict 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. Shareholders of record on Friday, May 30th will be given a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Friday, May 30th. Brookfield Asset Management's payout ratio is 124.11%.

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.