Marshall Wace LLP Invests $43.32 Million in Brookfield Asset Management Ltd. (NYSE:BAM)

Marshall Wace LLP purchased a new position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 799,435 shares of the financial services provider's stock, valued at approximately $43,321,000. Marshall Wace LLP owned about 0.18% of Brookfield Asset Management at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in Brookfield Asset Management by 0.3% in the third quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider's stock worth $419,400,000 after purchasing an additional 24,409 shares in the last quarter. MML Investors Services LLC increased its holdings in shares of Brookfield Asset Management by 7.3% during the 3rd quarter. MML Investors Services LLC now owns 17,511 shares of the financial services provider's stock valued at $828,000 after acquiring an additional 1,193 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Brookfield Asset Management during the third quarter worth approximately $1,634,000. Geode Capital Management LLC grew its holdings in Brookfield Asset Management by 11.6% during the third quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider's stock valued at $77,293,000 after purchasing an additional 168,170 shares during the last quarter. Finally, Morse Asset Management Inc acquired a new stake in shares of Brookfield Asset Management in the third quarter worth $176,000. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Performance

BAM traded up $1.44 during midday trading on Wednesday, hitting $50.91. The company had a trading volume of 779,853 shares, compared to its average volume of 1,428,710. The firm's 50-day simple moving average is $50.68 and its 200-day simple moving average is $53.63. Brookfield Asset Management Ltd. has a twelve month low of $37.29 and a twelve month high of $62.61. The company has a market capitalization of $83.36 billion, a PE ratio of 38.57, a P/E/G ratio of 1.92 and a beta of 1.63.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate 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, sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were given a dividend of $0.4375 per share. This is a boost 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 3.44%. Brookfield Asset Management's payout ratio is presently 132.58%.

Analyst Ratings Changes

A number of research analysts have weighed in on BAM shares. Hsbc Global Res raised shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods lowered their price objective on shares of Brookfield Asset Management from $57.00 to $56.00 and set an "underperform" rating on the stock in a research note on Monday, January 13th. Scotiabank reduced their price target on shares of Brookfield Asset Management from $62.50 to $58.00 and set a "sector outperform" rating for the company in a report on Monday, April 7th. CIBC upped their price objective on shares of 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, BMO Capital Markets upped their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the company a "market perform" rating in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, five have issued 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, the company has a consensus rating of "Moderate Buy" and an average price target of $57.15.

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.