Squarepoint Ops LLC Acquires New Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Squarepoint Ops LLC acquired a new stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,874 shares of the financial services provider's stock, valued at approximately $589,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. FMR LLC boosted its stake in shares of Brookfield Asset Management by 2.3% in the fourth quarter. FMR LLC now owns 19,646,285 shares of the financial services provider's stock valued at $1,064,983,000 after purchasing an additional 447,642 shares during the period. Vanguard Group Inc. boosted its stake in shares of Brookfield Asset Management by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 16,901,942 shares of the financial services provider's stock valued at $916,676,000 after purchasing an additional 263,660 shares during the period. TD Asset Management Inc. boosted its stake in shares of Brookfield Asset Management by 8.9% in the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider's stock valued at $903,323,000 after purchasing an additional 1,359,126 shares during the period. Capital International Investors boosted its stake in shares of Brookfield Asset Management by 0.7% in the fourth quarter. Capital International Investors now owns 16,116,518 shares of the financial services provider's stock valued at $873,354,000 after purchasing an additional 116,008 shares during the period. Finally, FIL Ltd boosted its stake in shares of Brookfield Asset Management by 3.9% in the fourth quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider's stock valued at $833,581,000 after purchasing an additional 574,978 shares during the period. Hedge funds and other institutional investors own 68.41% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. TD Securities raised their target price 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. Morgan Stanley raised their target price on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the company an "equal weight" rating in a report on Friday, May 16th. JPMorgan Chase & Co. raised their target price 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. HSBC raised shares of Brookfield Asset Management from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Finally, Bank of America raised shares of Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 target price on the stock in a report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, five have assigned 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 currently has an average rating of "Moderate Buy" and a consensus price target of $59.15.

Brookfield Asset Management Stock Performance

BAM stock traded up $0.96 during midday trading on Friday, reaching $57.55. 1,993,807 shares of the company were exchanged, compared to its average volume of 1,443,502. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $62.61. The stock's 50-day simple moving average is $53.01 and its 200 day simple moving average is $54.39. The company has a market cap of $92.80 billion, a price-to-earnings ratio of 43.60, a price-to-earnings-growth ratio of 1.92 and a beta of 1.51.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, meeting analysts' consensus estimates of $0.40. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.29 billion. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. On average, research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be issued a $0.4375 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.04%. Brookfield Asset Management's payout ratio is 124.11%.

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.