Colonial Trust Co SC Purchases 636 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Colonial Trust Co SC raised its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,764 shares of the financial services provider’s stock after acquiring an additional 636 shares during the quarter. Colonial Trust Co SC’s holdings in Brookfield Asset Management were worth $1,721,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Norges Bank bought a new stake in shares of Brookfield Asset Management during the fourth quarter valued at approximately $287,361,000. William Blair Investment Management LLC bought a new stake in Brookfield Asset Management in the 4th quarter valued at $204,169,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Brookfield Asset Management by 103.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider’s stock valued at $216,507,000 after acquiring an additional 2,031,995 shares during the last quarter. Madison Investment Advisors LLC purchased a new stake in Brookfield Asset Management in the 4th quarter worth $94,122,000. Finally, TD Asset Management Inc. boosted its holdings 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 valued at $903,323,000 after purchasing an additional 1,359,126 shares during the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Up 2.1 %

BAM opened at $55.07 on Wednesday. The business has a fifty day moving average of $49.58 and a 200 day moving average of $53.94. Brookfield Asset Management Ltd. has a 52-week low of $37.29 and a 52-week high of $62.61. The stock has a market cap of $90.17 billion, a P/E ratio of 41.72, a PEG ratio of 1.92 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued 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 net margin of 54.47% and a return on equity of 81.16%. Equities analysts anticipate 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. Stockholders of record on Friday, May 30th will be paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 3.18%. Brookfield Asset Management’s dividend payout ratio is presently 132.58%.

Analyst Ratings Changes

BAM has been the topic of a number of research analyst reports. TD Securities decreased their target price on Brookfield Asset Management from $68.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Keefe, Bruyette & Woods decreased their price objective on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a report on Monday, January 13th. BMO Capital Markets raised their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a report on Thursday, February 13th. CIBC upped their price target on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, Bank of America raised shares of Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

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.