Hsbc Holdings PLC Increases Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Hsbc Holdings PLC increased its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 18.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 707,892 shares of the financial services provider's stock after purchasing an additional 109,589 shares during the quarter. Hsbc Holdings PLC owned 0.16% of Brookfield Asset Management worth $38,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank bought a new stake in Brookfield Asset Management during the 4th quarter worth approximately $287,361,000. William Blair Investment Management LLC purchased a new stake in shares of Brookfield Asset Management in the fourth quarter worth about $204,169,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Brookfield Asset Management by 103.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider's stock valued at $216,507,000 after acquiring an additional 2,031,995 shares during the last quarter. Madison Investment Advisors LLC purchased a new position in shares of Brookfield Asset Management in the 4th quarter worth $94,122,000. Finally, TD Asset Management Inc. raised its position in Brookfield Asset Management by 8.9% during 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. Hedge funds and other institutional investors own 68.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BAM. Morgan Stanley dropped their price target on shares of Brookfield Asset Management from $62.00 to $50.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. HSBC raised shares of Brookfield Asset Management from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. BMO Capital Markets increased their price target on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company a "market perform" rating in a research report on Thursday, February 13th. Scotiabank dropped their price target on Brookfield Asset Management from $62.50 to $58.00 and set a "sector outperform" rating on the stock in a research note on Monday, April 7th. Finally, TD Securities lowered their price target on Brookfield Asset Management from $68.00 to $64.00 and set a "buy" rating for the company in a research report on Wednesday. Two research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $57.00.

Brookfield Asset Management Stock Up 0.2 %

Shares of NYSE BAM traded up $0.11 during midday trading on Thursday, hitting $53.44. The stock had a trading volume of 395,660 shares, compared to its average volume of 1,870,042. The stock has a 50 day simple moving average of $49.81 and a 200-day simple moving average of $53.80. The company has a market capitalization of $87.49 billion, a PE ratio of 40.49, a P/E/G ratio of 1.92 and a beta of 1.63. Brookfield Asset Management Ltd. has a 1 year low of $37.29 and a 1 year high of $62.61.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. As a group, analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were paid a $0.4375 dividend. This is an increase from Brookfield Asset Management's previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.75 annualized dividend and a dividend yield of 3.28%. Brookfield Asset Management's payout ratio is 132.58%.

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.