Brookfield Asset Management Ltd. (NYSE:BAM) Shares Purchased by Jackson Hole Capital Partners LLC

Jackson Hole Capital Partners LLC increased its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,770 shares of the financial services provider’s stock after purchasing an additional 291 shares during the quarter. Jackson Hole Capital Partners LLC’s holdings in Brookfield Asset Management were worth $392,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Private Trust Co. NA lifted its holdings in shares of Brookfield Asset Management by 180.4% during the third quarter. Private Trust Co. NA now owns 1,057 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 680 shares during the period. Signaturefd LLC lifted its holdings in Brookfield Asset Management by 106.4% in the third quarter. Signaturefd LLC now owns 1,482 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 764 shares during the period. Bfsg LLC acquired a new stake in Brookfield Asset Management in the fourth quarter valued at $51,000. Mitsubishi UFJ Trust & Banking Corp lifted 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 acquiring an additional 500 shares during the period. Finally, CWM LLC lifted its holdings in Brookfield Asset Management by 48.5% in the third quarter. CWM LLC now owns 1,959 shares of the financial services provider’s stock valued at $65,000 after acquiring an additional 640 shares during the period. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Performance

BAM stock traded up $0.73 during trading on Friday, hitting $39.70. The stock had a trading volume of 837,993 shares, compared to its average volume of 1,169,569. The company’s 50 day moving average price is $40.90 and its two-hundred day moving average price is $37.73. Brookfield Asset Management Ltd. has a 1-year low of $28.35 and a 1-year high of $43.00. The stock has a market cap of $16.40 billion, a price-to-earnings ratio of 34.78, a price-to-earnings-growth ratio of 1.51 and a beta of 1.68.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, February 7th. The financial services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. Brookfield Asset Management had a net margin of 50.23% and a return on equity of 96.43%. The firm had revenue of $1.13 billion during the quarter. During the same period in the previous year, the firm posted $0.31 EPS. As a group, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.49 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were paid a $0.38 dividend. 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. This represents a $1.52 annualized dividend and a yield of 3.83%. Brookfield Asset Management’s payout ratio is presently 134.51%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. HSBC downgraded Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Scotiabank raised their target price on Brookfield Asset Management from $46.50 to $47.00 and gave the company a “sector outperform” rating in a report on Thursday, February 8th. TD Securities reduced their target price on Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating for the company in a report on Tuesday, January 9th. CIBC raised their target price on Brookfield Asset Management from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Finally, BMO Capital Markets lifted their price target on 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.20.

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.