Heron Bay Capital Management Invests $201,000 in Brookfield Asset Management Ltd. (NYSE:BAM)

Heron Bay Capital Management purchased a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,712 shares of the financial services provider’s stock, valued at approximately $201,000.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of Brookfield Asset Management by 11.6% during the third quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock worth $77,293,000 after buying an additional 168,170 shares during the last quarter. Laffer Tengler Investments Inc. grew its position in Brookfield Asset Management by 24.2% in the fourth quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider’s stock valued at $8,008,000 after acquiring an additional 28,768 shares during the period. Plato Investment Management Ltd grew its position in Brookfield Asset Management by 173.7% in the fourth quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider’s stock valued at $564,000 after acquiring an additional 6,580 shares during the period. Tacita Capital Inc grew its position in Brookfield Asset Management by 19.3% in the fourth quarter. Tacita Capital Inc now owns 47,767 shares of the financial services provider’s stock valued at $2,585,000 after acquiring an additional 7,743 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Brookfield Asset Management by 103.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider’s stock valued at $216,507,000 after acquiring an additional 2,031,995 shares during the period. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Performance

NYSE:BAM opened at $49.52 on Friday. The company has a market cap of $21.94 billion, a PE ratio of 37.52, a PEG ratio of 1.92 and a beta of 1.50. Brookfield Asset Management Ltd. has a 52-week low of $37.29 and a 52-week high of $62.61. The stock has a 50-day simple moving average of $55.18 and a 200 day simple moving average of $53.27.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a dividend of $0.4375 per share. 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. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.53%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 132.58%.

Analyst Upgrades and Downgrades

BAM has been the topic of several research analyst reports. CIBC increased their target price on Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Scotiabank cut their price target on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. BMO Capital Markets increased their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research note on Thursday, February 13th. UBS Group began coverage on Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating on the stock. Finally, Keefe, Bruyette & Woods cut their target price 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. Two analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.38.

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.