Malaga Cove Capital LLC Buys 4,299 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Malaga Cove Capital LLC increased its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 68.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,574 shares of the financial services provider’s stock after purchasing an additional 4,299 shares during the period. Malaga Cove Capital LLC’s holdings in Brookfield Asset Management were worth $425,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of BAM. FMR LLC boosted its holdings in shares of Brookfield Asset Management by 10.2% in the 3rd quarter. FMR LLC now owns 14,217,008 shares of the financial services provider’s stock valued at $473,859,000 after purchasing an additional 1,313,734 shares in the last quarter. Vanguard Group Inc. boosted its stake in Brookfield Asset Management by 1.2% in the third quarter. Vanguard Group Inc. now owns 10,402,885 shares of the financial services provider’s stock valued at $346,832,000 after buying an additional 120,714 shares in the last quarter. TD Asset Management Inc grew its position in Brookfield Asset Management by 5.7% in the third quarter. TD Asset Management Inc now owns 8,902,390 shares of the financial services provider’s stock valued at $298,019,000 after acquiring an additional 477,431 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Brookfield Asset Management by 5.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 6,885,165 shares of the financial services provider’s stock worth $229,551,000 after acquiring an additional 365,237 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Brookfield Asset Management by 44.6% in the fourth quarter. Mackenzie Financial Corp now owns 6,341,977 shares of the financial services provider’s stock worth $254,842,000 after acquiring an additional 1,955,842 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. BMO Capital Markets upped their price objective on shares of Brookfield Asset Management from $34.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, February 8th. CIBC raised their price objective on Brookfield Asset Management from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Royal Bank of Canada upped their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. TD Securities dropped their price target on shares of Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating for the company in a research note on Tuesday, January 9th. Finally, Scotiabank boosted their price objective on shares of Brookfield Asset Management from $46.50 to $47.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.50.

Brookfield Asset Management Price Performance

Shares of Brookfield Asset Management stock traded up $0.56 during trading on Friday, reaching $39.13. 8,492,770 shares of the company traded hands, compared to its average volume of 1,966,548. The firm has a market capitalization of $16.17 billion, a PE ratio of 34.63, a P/E/G ratio of 1.51 and a beta of 1.72. The company has a 50 day moving average price of $40.66 and a 200-day moving average price of $37.99. Brookfield Asset Management Ltd. has a 1-year low of $28.35 and a 1-year high of $43.00.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data 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 company had revenue of $1.13 billion for the quarter. During the same period last year, the company earned $0.31 EPS. Equities research analysts expect that Brookfield Asset Management Ltd. will post 1.49 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.38 per share. This is an increase 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 dividend yield of 3.88%. Brookfield Asset Management’s payout ratio is currently 134.51%.

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.