6,507 Shares in Brookfield Asset Management Ltd. (NYSE:BAM) Acquired by Cerity Partners LLC

Cerity Partners LLC acquired a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,507 shares of the financial services provider’s stock, valued at approximately $261,000.

Several other large investors have also recently modified their holdings of BAM. Sather Financial Group Inc increased its stake in Brookfield Asset Management by 1.1% during the 4th quarter. Sather Financial Group Inc now owns 419,156 shares of the financial services provider’s stock valued at $16,837,000 after purchasing an additional 4,589 shares in the last quarter. Lester Murray Antman dba SimplyRich acquired a new position in Brookfield Asset Management during the 4th quarter valued at approximately $237,000. Hemington Wealth Management acquired a new position in Brookfield Asset Management during the 4th quarter valued at approximately $211,000. International Assets Investment Management LLC acquired a new position in Brookfield Asset Management during the 4th quarter valued at approximately $4,160,000. Finally, Moseley Investment Management Inc. acquired a new position in Brookfield Asset Management during the 4th quarter valued at approximately $233,000. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

Shares of NYSE BAM opened at $39.70 on Monday. The company’s fifty day moving average price is $40.88 and its 200 day moving average price is $37.85. Brookfield Asset Management Ltd. has a 1 year low of $28.35 and a 1 year high of $43.00. The company has a market capitalization of $16.40 billion, a PE ratio of 35.13, a price-to-earnings-growth ratio of 1.53 and a beta of 1.68.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly 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. The firm 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 period last year, the company posted $0.31 earnings per share. On average, equities analysts expect that Brookfield Asset Management Ltd. will post 1.49 EPS for the current year.

Brookfield Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.83%. 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. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BAM. CIBC upped their price target on shares of Brookfield Asset Management from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. 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 note on Thursday, February 8th. BMO Capital Markets increased 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 note on Thursday, February 8th. TD Securities cut their price objective on shares of Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating on the stock in a research note on Tuesday, January 9th. Finally, Scotiabank increased 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 analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Brookfield Asset Management presently has a consensus rating of “Moderate Buy” and an average price target of $42.20.

About Brookfield Asset Management

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.