Arrowstreet Capital Limited Partnership Takes Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Arrowstreet Capital Limited Partnership acquired a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 346,785 shares of the financial services provider’s stock, valued at approximately $18,785,000. Arrowstreet Capital Limited Partnership owned approximately 0.08% of Brookfield Asset Management at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its position in shares of Brookfield Asset Management by 11.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock worth $77,293,000 after purchasing an additional 168,170 shares during the period. TD Asset Management Inc. lifted its holdings in Brookfield Asset Management by 8.9% during the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock worth $903,323,000 after buying an additional 1,359,126 shares during the period. Laffer Tengler Investments Inc. boosted its position in Brookfield Asset Management by 24.2% during the 4th 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 in the last quarter. Plato Investment Management Ltd increased its holdings in shares of Brookfield Asset Management by 173.7% in the 4th 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. Finally, Tacita Capital Inc raised its position in shares of Brookfield Asset Management by 19.3% in the 4th quarter. Tacita Capital Inc now owns 47,767 shares of the financial services provider’s stock worth $2,585,000 after acquiring an additional 7,743 shares in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Performance

NYSE:BAM opened at $44.21 on Friday. The firm’s fifty day moving average is $53.89 and its two-hundred day moving average is $53.64. The firm has a market cap of $72.39 billion, a price-to-earnings ratio of 33.49, a PEG ratio of 1.92 and a beta of 1.62. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 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, equities 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 announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 3.96%. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, February 28th. Brookfield Asset Management’s payout ratio is 132.58%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Bank of America cut their target price on Brookfield Asset Management from $69.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday. UBS Group assumed coverage on shares of Brookfield Asset Management in a research report on Monday, December 16th. They issued a “buy” rating on the stock. HSBC raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods reduced their price target on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research report on Monday, January 13th. Finally, CIBC raised their price objective on Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Brookfield Asset Management presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.04.

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.