Legal & General Group Plc Has $1.82 Million Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Legal & General Group Plc decreased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 93.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,579 shares of the financial services provider's stock after selling 518,204 shares during the quarter. Legal & General Group Plc's holdings in Brookfield Asset Management were worth $1,821,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BAM. Bank of Montreal Can increased its holdings in shares of Brookfield Asset Management by 3.7% in the fourth quarter. Bank of Montreal Can now owns 9,575,446 shares of the financial services provider's stock valued at $518,655,000 after purchasing an additional 339,072 shares during the last quarter. FMR LLC increased its holdings in Brookfield Asset Management by 2.3% in the 4th 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 last quarter. Aster Capital Management DIFC Ltd acquired a new position in Brookfield Asset Management during the fourth quarter worth $1,491,000. Wells Fargo & Company MN grew its stake in shares of Brookfield Asset Management by 7.2% in the fourth quarter. Wells Fargo & Company MN now owns 650,628 shares of the financial services provider's stock valued at $35,268,000 after buying an additional 43,484 shares in the last quarter. Finally, Cinctive Capital Management LP purchased a new stake in shares of Brookfield Asset Management in the 4th quarter valued at $1,025,000. Institutional investors and hedge funds own 68.41% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on BAM. BMO Capital Markets boosted their price objective on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a "market perform" rating in a research report on Thursday, February 13th. Keefe, Bruyette & Woods cut their target price on shares of Brookfield Asset Management from $57.00 to $56.00 and set an "underperform" rating on the stock in a report on Monday, January 13th. TD Securities lowered their target price on shares of Brookfield Asset Management from $68.00 to $64.00 and set a "buy" rating on the stock in a research report on Wednesday. Jefferies Financial Group decreased their price objective on shares of Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. Finally, Hsbc Global Res upgraded shares of 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 issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $57.00.

Brookfield Asset Management Stock Performance

Shares of NYSE BAM traded up $0.76 during trading on Thursday, reaching $54.09. The company had a trading volume of 228,202 shares, compared to its average volume of 1,434,749. Brookfield Asset Management Ltd. has a 52 week low of $37.29 and a 52 week high of $62.61. The business's 50 day moving average price is $49.81 and its 200-day moving average price is $53.80. The stock has a market cap of $88.56 billion, a PE ratio of 40.92, a PEG ratio of 1.92 and a beta of 1.63.

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

Brookfield Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were given a dividend of $0.4375 per share. This is a positive change from Brookfield Asset Management's previous quarterly dividend of $0.38. This represents a $1.75 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend was Friday, February 28th. Brookfield Asset Management's payout ratio is presently 132.58%.

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.