Hsbc Holdings PLC Boosts Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Hsbc Holdings PLC grew its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 18.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 707,892 shares of the financial services provider’s stock after acquiring an additional 109,589 shares during the quarter. Hsbc Holdings PLC’s holdings in Brookfield Asset Management were worth $38,381,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BAM. Norges Bank acquired a new stake in Brookfield Asset Management in the fourth quarter valued at approximately $287,361,000. William Blair Investment Management LLC acquired a new position in Brookfield Asset Management during the 4th quarter valued at about $204,169,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Brookfield Asset Management by 103.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider’s stock worth $216,507,000 after acquiring an additional 2,031,995 shares in the last quarter. Madison Investment Advisors LLC purchased a new stake in shares of Brookfield Asset Management during the fourth quarter worth about $94,122,000. Finally, TD Asset Management Inc. increased its holdings in shares of 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 valued at $903,323,000 after acquiring an additional 1,359,126 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

BAM has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Tuesday, April 15th. BMO Capital Markets raised their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research note on Thursday, February 13th. Jefferies Financial Group dropped their price target on Brookfield Asset Management from $52.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday, April 8th. TD Securities raised their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Finally, Hsbc Global Res raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.15.

Brookfield Asset Management Trading Up 1.0 %

NYSE BAM opened at $52.97 on Friday. Brookfield Asset Management Ltd. has a twelve month low of $37.29 and a twelve month high of $62.61. The stock has a 50-day moving average of $50.19 and a 200 day moving average of $53.68. The stock has a market capitalization of $86.73 billion, a price-to-earnings ratio of 40.13, a PEG ratio of 1.92 and a beta of 1.63.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its 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 analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were paid a dividend of $0.4375 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.30%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s payout ratio is currently 132.58%.

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.