Mirabella Financial Services LLP Buys Shares of 15,402 Brookfield Asset Management Ltd. (NYSE:BAM)

Mirabella Financial Services LLP purchased a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 15,402 shares of the financial services provider’s stock, valued at approximately $832,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of Montreal Can raised its position in Brookfield Asset Management by 3.7% during the fourth quarter. Bank of Montreal Can now owns 9,575,446 shares of the financial services provider’s stock worth $518,655,000 after acquiring an additional 339,072 shares during the last quarter. TD Asset Management Inc. increased its stake in shares of Brookfield Asset Management by 8.9% during the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock worth $903,323,000 after purchasing an additional 1,359,126 shares in the last quarter. American Century Companies Inc. raised its position in shares of Brookfield Asset Management by 30.5% during the 4th quarter. American Century Companies Inc. now owns 74,389 shares of the financial services provider’s stock worth $4,033,000 after purchasing an additional 17,369 shares during the last quarter. Laffer Tengler Investments Inc. lifted its stake in Brookfield Asset Management by 24.2% in 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 buying an additional 28,768 shares in the last quarter. Finally, Plato Investment Management Ltd grew its holdings in Brookfield Asset Management by 173.7% during the 4th quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider’s stock valued at $564,000 after buying an additional 6,580 shares during the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BAM. Morgan Stanley cut their price target on Brookfield Asset Management from $62.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. Keefe, Bruyette & Woods cut their target price on shares of 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. TD Securities raised their price target on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Wells Fargo & Company lowered their price target on shares of Brookfield Asset Management from $50.00 to $48.00 and set an “underweight” rating for the company in a report on Tuesday, April 8th. Finally, Scotiabank reduced their price objective on shares of Brookfield Asset Management from $62.50 to $58.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.15.

Brookfield Asset Management Stock Up 1.2 %

Shares of NYSE BAM opened at $48.56 on Monday. The stock has a market capitalization of $79.51 billion, a PE ratio of 36.79, a P/E/G ratio of 1.92 and a beta of 1.63. The firm has a fifty day moving average of $51.00 and a 200-day moving average of $53.66. Brookfield Asset Management Ltd. has a 52-week low of $37.29 and a 52-week high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly 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%. Equities research analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS 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. The ex-dividend date was Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.60%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s payout ratio is presently 132.58%.

Brookfield Asset Management 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.