Atomi Financial Group Inc. Acquires 3,279 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Atomi Financial Group Inc. grew its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 53.5% in the 4th quarter, HoldingsChannel reports. The firm owned 9,411 shares of the financial services provider’s stock after buying an additional 3,279 shares during the quarter. Atomi Financial Group Inc.’s holdings in Brookfield Asset Management were worth $510,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of BAM. Geode Capital Management LLC raised its stake in Brookfield Asset Management by 11.6% in the third quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock worth $77,293,000 after buying an additional 168,170 shares in the last quarter. Avior Wealth Management LLC increased its holdings in shares of Brookfield Asset Management by 2,857.1% in the 3rd quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock valued at $489,000 after acquiring an additional 10,000 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Brookfield Asset Management by 5.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 834,929 shares of the financial services provider’s stock valued at $39,516,000 after acquiring an additional 45,670 shares during the period. LGT Capital Partners LTD. raised its position in shares of Brookfield Asset Management by 11.5% in the 3rd quarter. LGT Capital Partners LTD. now owns 534,000 shares of the financial services provider’s stock worth $25,273,000 after acquiring an additional 55,000 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in shares of Brookfield Asset Management by 10.3% during the 3rd quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock worth $188,057,000 after purchasing an additional 370,383 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analysts Set New Price Targets

BAM has been the topic of several analyst reports. Wells Fargo & Company cut their target price on Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. The Goldman Sachs Group boosted their price objective on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Keefe, Bruyette & Woods lowered their target price on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft upped their price target on Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Royal Bank of Canada raised their price objective on Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $54.38.

Brookfield Asset Management Stock Up 2.6 %

Brookfield Asset Management stock opened at $59.88 on Friday. The stock has a 50-day moving average price of $55.83 and a 200 day moving average price of $49.10. The company has a market capitalization of $26.54 billion, a price-to-earnings ratio of 52.99, a price-to-earnings-growth ratio of 2.15 and a beta of 1.45. Brookfield Asset Management Ltd. has a 52 week low of $37.29 and a 52 week high of $60.11.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same period in the previous year, the business posted $0.35 EPS. Research analysts anticipate that Brookfield Asset Management Ltd. will post 1.45 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend was Friday, November 29th. Brookfield Asset Management’s payout ratio is 134.51%.

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.