Brookfield Asset Management Ltd. (NYSE:BAM) Shares Bought by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. raised its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 26.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 9,431 shares of the financial services provider’s stock after buying an additional 1,944 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Brookfield Asset Management were worth $511,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its position in Brookfield Asset Management by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock valued at $419,400,000 after acquiring an additional 24,409 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of Brookfield Asset Management in the 3rd quarter worth approximately $219,000. Pathstone Holdings LLC lifted its position in shares of Brookfield Asset Management by 1.0% during the 3rd quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock valued at $1,379,000 after acquiring an additional 278 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Brookfield Asset Management by 1.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 60,805 shares of the financial services provider’s stock worth $2,875,000 after purchasing an additional 1,007 shares in the last quarter. Finally, Moors & Cabot Inc. lifted its position in shares of Brookfield Asset Management by 4.9% in the 3rd quarter. Moors & Cabot Inc. now owns 8,983 shares of the financial services provider’s stock valued at $425,000 after acquiring an additional 420 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BAM has been the topic of several recent analyst reports. HSBC raised Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Wells Fargo & Company lowered their price target on Brookfield Asset Management from $54.00 to $50.00 and set an “underweight” rating for the company in a research note on Thursday. StockNews.com upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Thursday. CIBC upped their price objective on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, TD Securities raised their target price on Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.38.

Brookfield Asset Management Trading Up 0.3 %

BAM opened at $49.52 on Friday. The business has a 50 day moving average of $55.18 and a 200-day moving average of $53.27. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $62.61. The stock has a market capitalization of $21.94 billion, a price-to-earnings ratio of 37.52, a P/E/G ratio of 1.92 and a beta of 1.50.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, topping 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 year.

Brookfield Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be given a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio (DPR) is 132.58%.

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.