Zurcher Kantonalbank Zurich Cantonalbank Purchases 1,842 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,920 shares of the financial services provider’s stock after acquiring an additional 1,842 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Brookfield Asset Management were worth $2,580,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Private Trust Co. NA grew its position in shares of Brookfield Asset Management by 180.4% during the 3rd quarter. Private Trust Co. NA now owns 1,057 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 680 shares during the period. Signaturefd LLC boosted its position in Brookfield Asset Management by 106.4% during the third quarter. Signaturefd LLC now owns 1,482 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 764 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Brookfield Asset Management by 39.6% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,764 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 500 shares in the last quarter. CWM LLC raised its position in shares of Brookfield Asset Management by 48.5% in the third quarter. CWM LLC now owns 1,959 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 640 shares during the period. Finally, Anchor Investment Management LLC purchased a new stake in shares of Brookfield Asset Management during the 4th quarter valued at approximately $119,000. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Trading Up 1.4 %

BAM opened at $39.59 on Wednesday. The stock has a market capitalization of $16.36 billion, a P/E ratio of 35.04, a PEG ratio of 1.48 and a beta of 1.68. The stock has a 50-day moving average price of $40.97 and a 200-day moving average price of $37.72. Brookfield Asset Management Ltd. has a 12-month low of $28.35 and a 12-month high of $43.00.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The business had revenue of $1.13 billion for the quarter. Brookfield Asset Management had a net margin of 50.23% and a return on equity of 96.43%. During the same quarter in the previous year, the business earned $0.31 earnings per share. On average, equities research analysts predict that Brookfield Asset Management Ltd. will post 1.49 EPS for the current year.

Brookfield Asset Management Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages have issued reports on BAM. TD Securities lowered their target price on shares of Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating on the stock in a report on Tuesday, January 9th. Royal Bank of Canada lifted their target price on Brookfield Asset Management from $49.00 to $50.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. Scotiabank increased their price target on shares of Brookfield Asset Management from $46.50 to $47.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 8th. BMO Capital Markets boosted their price objective on shares of Brookfield Asset Management from $34.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday, February 8th. Finally, HSBC lowered shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Brookfield Asset Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.20.

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.