TD Waterhouse Canada Inc. Raises Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

TD Waterhouse Canada Inc. boosted its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,303,653 shares of the financial services provider's stock after purchasing an additional 10,303 shares during the quarter. TD Waterhouse Canada Inc. owned approximately 0.29% of Brookfield Asset Management worth $70,419,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Truvestments Capital LLC increased its stake in shares of Brookfield Asset Management by 487.2% during the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider's stock worth $27,000 after buying an additional 419 shares during the period. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Brookfield Asset Management in the 4th quarter valued at approximately $32,000. Versant Capital Management Inc increased its position in shares of Brookfield Asset Management by 1,606.3% in the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 771 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Brookfield Asset Management by 61.0% in the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 325 shares in the last quarter. Finally, Redwood Park Advisors LLC purchased a new stake in shares of Brookfield Asset Management during the 4th quarter worth $64,000. Institutional investors and hedge funds own 68.41% of the company's stock.

Brookfield Asset Management Stock Up 1.0 %

BAM stock traded up $0.54 during trading on Friday, hitting $52.97. The company had a trading volume of 1,753,870 shares, compared to its average volume of 1,436,601. The firm has a 50-day moving average price of $50.19 and a 200-day moving average price of $53.68. The firm has a market cap of $86.73 billion, a PE ratio of 40.13, a price-to-earnings-growth ratio of 1.92 and a beta of 1.63. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $62.61.

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 return on equity of 81.16% and a net margin of 54.47%. Sell-side analysts anticipate 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 paid a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from Brookfield Asset Management's previous quarterly dividend of $0.38. Brookfield Asset Management's dividend payout ratio (DPR) is 132.58%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BAM shares. Keefe, Bruyette & Woods cut their price target on 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. BMO Capital Markets boosted their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a "market perform" rating in a research note on Thursday, February 13th. Morgan Stanley dropped their price target on shares of Brookfield Asset Management from $62.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. Bank of America upgraded shares of Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 price objective for the company in a research report on Thursday, April 10th. Finally, 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. Two analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.