Royal London Asset Management Ltd. Increases Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Royal London Asset Management Ltd. increased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 161,565 shares of the financial services provider’s stock after purchasing an additional 2,621 shares during the period. Royal London Asset Management Ltd.’s holdings in Brookfield Asset Management were worth $6,490,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BAM. Beutel Goodman & Co Ltd. grew its position in Brookfield Asset Management by 114.5% during 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. Wells Fargo & Company MN grew its position in Brookfield Asset Management by 17.1% during the fourth quarter. Wells Fargo & Company MN now owns 692,801 shares of the financial services provider’s stock valued at $27,842,000 after acquiring an additional 100,997 shares during the period. Asset Management One Co. Ltd. grew its position in Brookfield Asset Management by 127.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 62,914 shares of the financial services provider’s stock valued at $2,537,000 after acquiring an additional 35,300 shares during the period. Hsbc Holdings PLC grew its position in Brookfield Asset Management by 42.4% during the fourth quarter. Hsbc Holdings PLC now owns 628,945 shares of the financial services provider’s stock valued at $25,265,000 after acquiring an additional 187,250 shares during the period. Finally, Partners Value Investments L.P. grew its position in Brookfield Asset Management by 0.9% during the fourth quarter. Partners Value Investments L.P. now owns 30,807,960 shares of the financial services provider’s stock valued at $1,237,556,000 after acquiring an additional 280,098 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analysts Set New Price Targets

BAM has been the subject of a number of research reports. JPMorgan Chase & Co. started coverage on Brookfield Asset Management in a research report on Wednesday, May 15th. They set a “neutral” rating and a $41.00 price target for the company. Scotiabank decreased their target price on Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating for the company in a research report on Thursday, May 9th. Finally, Royal Bank of Canada upped their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.14.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM traded down $0.24 during trading on Friday, hitting $38.01. The company’s stock had a trading volume of 1,053,534 shares, compared to its average volume of 1,267,022. Brookfield Asset Management Ltd. has a fifty-two week low of $28.35 and a fifty-two week high of $43.00. The stock’s 50-day moving average price is $39.35 and its two-hundred day moving average price is $39.62. The company has a market capitalization of $16.81 billion, a PE ratio of 35.19, a PEG ratio of 1.73 and a beta of 1.67.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. The business had revenue of $884.00 million for the quarter. On average, equities analysts predict that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.00%. The ex-dividend date is Friday, May 31st. Brookfield Asset Management’s dividend payout ratio (DPR) is 140.74%.

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.