Brookfield Asset Management Ltd. (NYSE:BAM) Shares Bought by Northern Trust Corp

Northern Trust Corp increased its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 63.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 426,594 shares of the financial services provider's stock after buying an additional 164,809 shares during the quarter. Northern Trust Corp owned about 0.10% of Brookfield Asset Management worth $23,117,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of BAM. Truvestments Capital LLC boosted its stake in shares of Brookfield Asset Management by 487.2% during the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider's stock worth $27,000 after purchasing an additional 419 shares during the period. Mountain Hill Investment Partners Corp. bought a new stake in Brookfield Asset Management in the fourth quarter worth about $32,000. NewEdge Advisors LLC boosted its position in shares of Brookfield Asset Management by 61.0% during the fourth quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock valued at $47,000 after buying an additional 325 shares during the period. Redwood Park Advisors LLC purchased a new position in shares of Brookfield Asset Management during the fourth quarter valued at approximately $64,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Brookfield Asset Management by 35.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider's stock valued at $66,000 after buying an additional 319 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Performance

NYSE:BAM traded up $0.17 during midday trading on Friday, reaching $59.72. 4,782,497 shares of the stock traded hands, compared to its average volume of 1,387,740. The stock has a market capitalization of $97.77 billion, a PE ratio of 45.24, a price-to-earnings-growth ratio of 1.92 and a beta of 1.56. Brookfield Asset Management Ltd. has a 12-month low of $37.29 and a 12-month high of $62.61. The business has a 50-day moving average of $50.36 and a two-hundred day moving average of $54.21.

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 earnings per share for the quarter, hitting the consensus estimate of $0.40. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.29 billion. Research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be paid a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Friday, May 30th. Brookfield Asset Management's dividend payout ratio (DPR) is presently 124.11%.

Wall Street Analysts Forecast Growth

BAM has been the subject of a number of recent analyst reports. Bank of America raised shares of Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 target price for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. boosted their price objective on shares of Brookfield Asset Management from $51.00 to $55.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. CIBC upped their target price on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Morgan Stanley raised their target price on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the stock an "equal weight" rating in a research report on Friday. Finally, StockNews.com upgraded Brookfield Asset Management from a "sell" rating to a "hold" rating in a report on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Brookfield Asset Management presently has a consensus rating of "Moderate Buy" and an average price target of $59.08.

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.