Laird Norton Wetherby Wealth Management LLC Buys New Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Laird Norton Wetherby Wealth Management LLC bought a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,902 shares of the financial services provider’s stock, valued at approximately $211,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. purchased a new position in shares of Brookfield Asset Management during the 4th quarter worth $215,000. Park Avenue Securities LLC lifted its stake in shares of Brookfield Asset Management by 4.4% during the 4th quarter. Park Avenue Securities LLC now owns 19,771 shares of the financial services provider’s stock worth $1,072,000 after purchasing an additional 837 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Brookfield Asset Management by 35.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 319 shares during the period. Ritholtz Wealth Management lifted its stake in shares of Brookfield Asset Management by 166.9% during the 4th quarter. Ritholtz Wealth Management now owns 13,079 shares of the financial services provider’s stock worth $709,000 after purchasing an additional 8,179 shares during the period. Finally, Procyon Advisors LLC lifted its stake in shares of Brookfield Asset Management by 2.7% during the 4th quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider’s stock worth $505,000 after purchasing an additional 249 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on BAM shares. Scotiabank increased their price target on Brookfield Asset Management from $58.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. StockNews.com raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Tuesday, April 15th. Morgan Stanley increased their price target on Brookfield Asset Management from $50.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Friday. BMO Capital Markets increased their target price on 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, JPMorgan Chase & Co. increased their target price on Brookfield Asset Management from $51.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Brookfield Asset Management has an average rating of “Moderate Buy” and a consensus price target of $59.08.

Brookfield Asset Management Trading Up 0.3%

Shares of NYSE BAM opened at $59.72 on Friday. Brookfield Asset Management Ltd. has a 12-month low of $37.29 and a 12-month high of $62.61. The company has a market cap of $96.29 billion, a P/E ratio of 45.24, a P/E/G ratio of 1.92 and a beta of 1.56. The stock has a fifty day moving average price of $50.62 and a 200 day moving average price of $54.25.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.40. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.29 billion. On average, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be issued a $0.4375 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.75 annualized dividend and a yield of 2.93%. Brookfield Asset Management’s dividend payout ratio is currently 124.11%.

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.