Short Interest in Brookfield Asset Management Ltd. (NYSE:BAM) Expands By 18.7%

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) was the recipient of a significant growth in short interest in the month of April. As of April 30th, there was short interest totalling 19,130,000 shares, a growth of 18.7% from the April 15th total of 16,110,000 shares. Based on an average daily trading volume, of 1,600,000 shares, the short-interest ratio is currently 12.0 days. Currently, 5.5% of the company’s stock are short sold.

Hedge Funds Weigh In On Brookfield Asset Management

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Brookfield Asset Management in the fourth quarter worth about $239,421,000. FIL Ltd lifted its holdings in shares of Brookfield Asset Management by 66.1% during the fourth quarter. FIL Ltd now owns 11,314,071 shares of the financial services provider’s stock worth $454,424,000 after buying an additional 4,501,410 shares during the last quarter. Beutel Goodman & Co Ltd. boosted its position in shares of Brookfield Asset Management by 114.5% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 6,922,224 shares of the financial services provider’s stock valued at $279,387,000 after acquiring an additional 3,695,774 shares during the period. TD Asset Management Inc grew its stake in shares of Brookfield Asset Management by 29.2% in the fourth quarter. TD Asset Management Inc now owns 11,498,183 shares of the financial services provider’s stock worth $464,078,000 after acquiring an additional 2,595,793 shares during the last quarter. Finally, Capital World Investors increased its position in Brookfield Asset Management by 10.0% during the fourth quarter. Capital World Investors now owns 24,562,364 shares of the financial services provider’s stock worth $986,656,000 after acquiring an additional 2,241,372 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

BAM has been the subject of several research reports. HSBC cut shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Scotiabank lowered their price target on shares of Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating on the stock in a report on Thursday, May 9th. Royal Bank of Canada upped their price target on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. CIBC lifted their price objective on Brookfield Asset Management from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Finally, BMO Capital Markets upped their target price on Brookfield Asset Management from $34.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $42.14.

Brookfield Asset Management Stock Performance

Shares of BAM traded down $0.14 during trading hours on Thursday, hitting $39.88. 780,816 shares of the company were exchanged, compared to its average volume of 1,480,337. The company has a market cap of $17.63 billion, a PE ratio of 37.04, a PEG ratio of 1.79 and a beta of 1.71. The firm’s 50 day moving average is $40.42 and its 200-day moving average is $38.56. Brookfield Asset Management has a 52 week low of $28.35 and a 52 week high of $43.00.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.52 dividend on an annualized basis and a yield of 3.81%. Brookfield Asset Management’s payout ratio is currently 140.74%.

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.