Mirabella Financial Services LLP Purchases New Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Mirabella Financial Services LLP bought a new stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,402 shares of the financial services provider's stock, valued at approximately $832,000.

Other hedge funds have also recently bought and sold shares of the company. Ossiam lifted its position in shares of Brookfield Asset Management by 1.1% during the 4th quarter. Ossiam now owns 75,054 shares of the financial services provider's stock valued at $4,068,000 after buying an additional 810 shares during the last quarter. Capital International Inc. CA grew its stake in Brookfield Asset Management by 13.5% in the 4th quarter. Capital International Inc. CA now owns 242,391 shares of the financial services provider's stock worth $13,135,000 after buying an additional 28,833 shares in the last quarter. Capital International Ltd. CA increased its stake in Brookfield Asset Management by 0.3% in the fourth quarter. Capital International Ltd. CA now owns 161,077 shares of the financial services provider's stock valued at $8,729,000 after acquiring an additional 477 shares during the last quarter. Capital Group Private Client Services Inc. raised its holdings in shares of Brookfield Asset Management by 75.3% during the 4th quarter. Capital Group Private Client Services Inc. now owns 72,538 shares of the financial services provider's stock valued at $3,931,000 after buying an additional 31,162 shares in the last quarter. Finally, Capital International Investors boosted its stake in shares of Brookfield Asset Management by 0.7% in the 4th 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 in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Up 1.0 %

Shares of Brookfield Asset Management stock traded up $0.54 during trading on Friday, hitting $52.97. 1,753,870 shares of the company were exchanged, compared to its average volume of 1,436,601. Brookfield Asset Management Ltd. has a fifty-two week low of $37.29 and a fifty-two week high of $62.61. The firm has a 50 day moving average price of $50.19 and a 200 day moving average price of $53.68. The stock has a market capitalization of $86.73 billion, a price-to-earnings ratio of 40.13, 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 posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share 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%. Analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were issued a dividend of $0.4375 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.30%. This is a boost from Brookfield Asset Management's previous quarterly dividend of $0.38. Brookfield Asset Management's payout ratio is presently 132.58%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group cut their target price on shares of Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating on the stock in a research note on Tuesday, April 8th. 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 report on Thursday, February 13th. Hsbc Global Res raised shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a report on Friday, February 14th. CIBC raised their target price on Brookfield Asset Management from $63.00 to $70.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods lowered their target price on Brookfield Asset Management from $57.00 to $56.00 and set an "underperform" rating on the stock in a research report on Monday, January 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $57.15.

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.