Brookfield Asset Management Ltd. (NYSE:BAM) Shares Acquired by TD Asset Management Inc.

TD Asset Management Inc. grew its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 8.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,664,426 shares of the financial services provider’s stock after purchasing an additional 1,359,126 shares during the quarter. Brookfield Asset Management makes up about 0.8% of TD Asset Management Inc.’s portfolio, making the stock its 28th biggest holding. TD Asset Management Inc. owned 3.76% of Brookfield Asset Management worth $903,323,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of Brookfield Asset Management by 0.3% in the third quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock worth $419,400,000 after acquiring an additional 24,409 shares during the period. Pathstone Holdings LLC increased its stake in shares of Brookfield Asset Management by 1.0% in the 3rd quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock valued at $1,379,000 after purchasing an additional 278 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Brookfield Asset Management by 1.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 60,805 shares of the financial services provider’s stock worth $2,875,000 after purchasing an additional 1,007 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Brookfield Asset Management by 5.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 834,929 shares of the financial services provider’s stock worth $39,516,000 after purchasing an additional 45,670 shares in the last quarter. Finally, Icon Wealth Advisors LLC acquired a new stake in Brookfield Asset Management in the third quarter valued at approximately $118,000. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Performance

NYSE:BAM opened at $51.43 on Tuesday. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $62.61. The stock has a market cap of $22.79 billion, a PE ratio of 38.96, a P/E/G ratio of 1.92 and a beta of 1.50. The stock has a 50 day moving average price of $55.17 and a 200 day moving average price of $53.44.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results 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%. As a group, 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid 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 yield of 3.40%. Brookfield Asset Management’s payout ratio is 132.58%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on BAM shares. UBS Group began coverage on Brookfield Asset Management in a research report on Monday, December 16th. They set a “buy” rating on the stock. TD Securities upped their price objective on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. StockNews.com upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Thursday, March 20th. BMO Capital Markets upped their price target on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods cut their price objective on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus 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.