Brookfield Asset Management Ltd. (NYSE:BAM) Shares Purchased by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc increased its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,943 shares of the financial services provider’s stock after purchasing an additional 4,221 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Brookfield Asset Management were worth $6,304,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in BAM. Asset Management One Co. Ltd. grew its stake in shares of Brookfield Asset Management by 127.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 62,914 shares of the financial services provider’s stock valued at $2,537,000 after buying an additional 35,300 shares during the period. America First Investment Advisors LLC grew its position in Brookfield Asset Management by 107.3% during the third quarter. America First Investment Advisors LLC now owns 338,692 shares of the financial services provider’s stock valued at $11,292,000 after acquiring an additional 175,316 shares during the period. Vanguard Group Inc. increased its stake in Brookfield Asset Management by 1.2% during the third quarter. Vanguard Group Inc. now owns 10,402,885 shares of the financial services provider’s stock worth $346,832,000 after acquiring an additional 120,714 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Brookfield Asset Management by 55.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 364,179 shares of the financial services provider’s stock worth $12,145,000 after purchasing an additional 129,907 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Brookfield Asset Management by 0.7% in the 3rd quarter. Invesco Ltd. now owns 1,594,743 shares of the financial services provider’s stock valued at $53,169,000 after purchasing an additional 11,416 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 1.4 %

NYSE BAM opened at $39.59 on Wednesday. The company has a market capitalization of $16.36 billion, a PE ratio of 35.04, a price-to-earnings-growth ratio of 1.50 and a beta of 1.68. Brookfield Asset Management Ltd. has a 1-year low of $28.35 and a 1-year high of $43.00. The firm’s fifty day simple moving average is $40.97 and its 200-day simple moving average is $37.72.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, February 7th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. Brookfield Asset Management had a net margin of 50.23% and a return on equity of 96.43%. The business had revenue of $1.13 billion for the quarter. During the same period last year, the firm posted $0.31 EPS. As a group, analysts predict that Brookfield Asset Management Ltd. will post 1.49 EPS for the current year.

Brookfield Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were issued a $0.38 dividend. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.52 annualized dividend and a yield of 3.84%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 134.51%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BAM shares. Royal Bank of Canada increased their price objective on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. HSBC lowered Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. TD Securities decreased their target price on Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating for the company in a research report on Tuesday, January 9th. CIBC raised their target price on Brookfield Asset Management from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Finally, Scotiabank boosted their price target on Brookfield Asset Management from $46.50 to $47.00 and gave the stock a “sector outperform” rating in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.20.

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.