Marks Group Wealth Management Inc Buys 4,221 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Marks Group Wealth Management Inc grew its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 156,943 shares of the financial services provider’s stock after acquiring an additional 4,221 shares during the period. Marks Group Wealth Management Inc’s holdings in Brookfield Asset Management were worth $6,304,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Private Trust Co. NA grew its holdings in 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 worth $35,000 after acquiring an additional 680 shares during the last quarter. Signaturefd LLC grew its stake in shares of Brookfield Asset Management by 106.4% in 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 last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in 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 valued at $59,000 after purchasing an additional 500 shares during the period. CWM LLC raised its position in Brookfield Asset Management by 48.5% during the 3rd quarter. CWM LLC now owns 1,959 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 640 shares during the last quarter. Finally, Anchor Investment Management LLC acquired a new position in Brookfield Asset Management during the 4th quarter worth about $119,000. Institutional investors and hedge funds own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BAM. TD Securities lowered their price objective on Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating for the company in a research report on Tuesday, January 9th. Royal Bank of Canada boosted their price target on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. CIBC increased their price objective on shares of Brookfield Asset Management from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. BMO Capital Markets boosted their target price on shares of Brookfield Asset Management from $34.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, February 8th. Finally, Scotiabank upped their price target on shares of Brookfield Asset Management from $46.50 to $47.00 and gave the company a “sector outperform” rating in a research report on Thursday, February 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.20.

Brookfield Asset Management Price Performance

NYSE BAM opened at $39.59 on Wednesday. The company has a fifty day moving average price of $40.97 and a 200-day moving average price of $37.72. The firm has a market cap of $16.36 billion, a price-to-earnings ratio of 35.04, a PEG ratio of 1.50 and a beta of 1.68. Brookfield Asset Management Ltd. has a 1 year low of $28.35 and a 1 year 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. Brookfield Asset Management had a return on equity of 96.43% and a net margin of 50.23%. The company had revenue of $1.13 billion during the quarter. During the same period in the previous year, the business posted $0.31 earnings per share. On average, research analysts anticipate that Brookfield Asset Management Ltd. will post 1.49 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th were paid 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 payout ratio is currently 134.51%.

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.