Brookfield Asset Management Ltd. (NYSE:BAM) Stock Position Lifted by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 44.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,341,977 shares of the financial services provider's stock after buying an additional 1,955,842 shares during the quarter. Mackenzie Financial Corp owned approximately 1.54% of Brookfield Asset Management worth $254,842,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BAM. American Century Companies Inc. increased its position in Brookfield Asset Management by 0.7% during the first quarter. American Century Companies Inc. now owns 38,228 shares of the financial services provider's stock worth $2,161,000 after purchasing an additional 268 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Brookfield Asset Management by 35.5% in the second quarter. BNP Paribas Arbitrage SA now owns 1,057 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 277 shares during the period. Guardian Wealth Management Inc. lifted its position in Brookfield Asset Management by 0.6% in the first quarter. Guardian Wealth Management Inc. now owns 54,530 shares of the financial services provider's stock valued at $3,085,000 after purchasing an additional 313 shares during the period. Rhumbline Advisers lifted its holdings in Brookfield Asset Management by 21.9% in the third quarter. Rhumbline Advisers now owns 1,844 shares of the financial services provider's stock valued at $61,000 after acquiring an additional 331 shares during the period. Finally, Blue Fin Capital Inc. grew its position in Brookfield Asset Management by 2.0% during the third quarter. Blue Fin Capital Inc. now owns 22,173 shares of the financial services provider's stock worth $739,000 after buying an additional 425 shares during the period. Hedge funds and other institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Stock Performance

NYSE BAM traded down $0.84 during trading hours on Monday, hitting $38.54. 1,213,197 shares of the company traded hands, compared to its average volume of 1,099,413. Brookfield Asset Management Ltd. has a twelve month low of $28.35 and a twelve month high of $43.00. The stock has a market capitalization of $15.92 billion, a price-to-earnings ratio of 34.96, a P/E/G ratio of 1.52 and a beta of 1.68. The business's 50-day moving average is $41.13 and its 200-day moving average is $37.39.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.02. Brookfield Asset Management had a net margin of 50.23% and a return on equity of 96.43%. The business had revenue of $1.13 billion for the quarter. During the same period in the prior year, the business posted $0.31 earnings per share. Analysts predict that Brookfield Asset Management Ltd. will post 1.49 EPS for the current year.

Brookfield Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.94%. This is an increase from Brookfield Asset Management's previous quarterly dividend of $0.32. The ex-dividend date was Wednesday, February 28th. Brookfield Asset Management's dividend payout ratio is presently 134.51%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BAM shares. Deutsche Bank Aktiengesellschaft raised Brookfield Asset Management from a "hold" rating to a "buy" rating and raised their price target for the stock from $33.00 to $45.00 in a research report on Monday, December 18th. HSBC lowered shares of Brookfield Asset Management from a "buy" rating to a "hold" rating in a report on Thursday, February 1st. CIBC increased their target price on shares of Brookfield Asset Management from $40.00 to $47.00 and gave the stock an "outperform" rating in a report on Monday, January 29th. TD Securities reduced their price objective on Brookfield Asset Management from $52.00 to $49.00 and set an "action list buy" rating for the company in a research report on Tuesday, January 9th. Finally, BMO Capital Markets lifted their target price on Brookfield Asset Management from $34.00 to $36.00 and gave the stock a "market perform" rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $42.20.

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.