Focus Financial Network Inc. Purchases Shares of 4,224 Brookfield Asset Management Ltd. (NYSE:BAM)

Focus Financial Network Inc. purchased a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 4,224 shares of the financial services provider’s stock, valued at approximately $229,000.

Several other hedge funds also recently modified their holdings of BAM. Hara Capital LLC bought a new position in Brookfield Asset Management in the third quarter valued at approximately $27,000. RPg Family Wealth Advisory LLC bought a new position in shares of Brookfield Asset Management in the third quarter valued at $27,000. Versant Capital Management Inc increased its holdings in Brookfield Asset Management by 1,606.3% during the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock worth $44,000 after buying an additional 771 shares during the last quarter. Continuum Advisory LLC raised its position in Brookfield Asset Management by 42.2% during the third quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 329 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in Brookfield Asset Management by 35.1% in 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 acquiring an additional 319 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Analyst Ratings Changes

BAM has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a report on Monday, November 11th. HSBC raised Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday. BMO Capital Markets increased their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research note on Thursday. UBS Group initiated coverage on shares of Brookfield Asset Management in a research report on Monday, December 16th. They set a “buy” rating for the company. Finally, Scotiabank dropped their price objective on shares of Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating on the stock in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $56.71.

Brookfield Asset Management Trading Up 4.0 %

Shares of BAM stock opened at $59.86 on Friday. The stock has a market cap of $26.53 billion, a P/E ratio of 52.98, a price-to-earnings-growth ratio of 2.18 and a beta of 1.46. Brookfield Asset Management Ltd. has a 1 year low of $37.29 and a 1 year high of $62.61. The stock has a 50 day simple moving average of $56.40 and a 200 day simple moving average of $50.94.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results 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 return on equity of 85.03% and a net margin of 49.69%. Analysts forecast that Brookfield Asset Management Ltd. will post 1.45 EPS for the current year.

Brookfield Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be issued a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio is 132.58%.

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.