Thurston Springer Miller Herd & Titak Inc. Has $94,000 Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Thurston Springer Miller Herd & Titak Inc. raised its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 58.7% in the first quarter, HoldingsChannel.com reports. The firm owned 1,947 shares of the financial services provider’s stock after purchasing an additional 720 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Brookfield Asset Management were worth $94,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in shares of Brookfield Asset Management during the fourth quarter worth $287,361,000. William Blair Investment Management LLC acquired a new stake in Brookfield Asset Management during the fourth quarter worth approximately $204,169,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Brookfield Asset Management by 103.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider’s stock valued at $216,507,000 after acquiring an additional 2,031,995 shares in the last quarter. Madison Investment Advisors LLC bought a new stake in Brookfield Asset Management in the fourth quarter valued at $94,122,000. Finally, TD Asset Management Inc. increased its position in Brookfield Asset Management by 8.9% in the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock valued at $903,323,000 after buying an additional 1,359,126 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BAM has been the subject of a number of recent research reports. Jefferies Financial Group decreased their price target on shares of Brookfield Asset Management from $52.00 to $46.00 and set a “hold” rating for the company in a research note on Tuesday, April 8th. Morgan Stanley increased their price target on Brookfield Asset Management from $50.00 to $54.00 and gave the company an “equal weight” rating in a research report on Friday, May 16th. HSBC raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Bank of America raised Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Thursday, April 10th. Finally, BMO Capital Markets upped their price target on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.15.

Brookfield Asset Management Price Performance

BAM stock opened at $57.55 on Friday. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $62.61. The firm has a 50 day simple moving average of $53.01 and a two-hundred day simple moving average of $54.39. The stock has a market cap of $92.80 billion, a PE ratio of 43.60, a P/E/G ratio of 1.92 and a beta of 1.51.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.40. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.29 billion. On average, research analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Friday, May 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 124.11%.

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.