Oppenheimer Asset Management Inc. Acquires Shares of 3,856 Brookfield Asset Management Ltd. (NYSE:BAM)

Oppenheimer Asset Management Inc. acquired a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 3,856 shares of the financial services provider’s stock, valued at approximately $209,000.

Several other large investors also recently bought and sold shares of the business. Bank of Montreal Can lifted its holdings in shares of Brookfield Asset Management by 0.5% in the 3rd quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider’s stock worth $435,729,000 after acquiring an additional 43,134 shares during the last quarter. Principal Financial Group Inc. raised its stake in Brookfield Asset Management by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 8,930,366 shares of the financial services provider’s stock worth $483,963,000 after acquiring an additional 62,908 shares in the last quarter. CIBC Asset Management Inc raised its stake in 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 acquiring an additional 370,383 shares in the last quarter. Douglass Winthrop Advisors LLC increased its stake in Brookfield Asset Management by 3.9% in the third quarter. Douglass Winthrop Advisors LLC now owns 2,670,488 shares of the financial services provider’s stock valued at $126,287,000 after purchasing an additional 99,020 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Brookfield Asset Management by 66.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock valued at $92,896,000 after purchasing an additional 784,250 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BAM. The Goldman Sachs Group lifted their target price on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Scotiabank dropped their price target on shares of Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Wells Fargo & Company decreased their price objective on shares of Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating for the company in a research note on Thursday, February 13th. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. Finally, UBS Group assumed coverage on shares of Brookfield Asset Management in a research note on Monday, December 16th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Brookfield Asset Management has an average rating of “Hold” and an average price target of $56.71.

Brookfield Asset Management Stock Down 3.1 %

Shares of BAM opened at $48.75 on Friday. The firm has a 50-day moving average price of $56.50 and a 200 day moving average price of $52.70. The firm has a market capitalization of $21.60 billion, a PE ratio of 36.93, a P/E/G ratio of 1.92 and a beta of 1.46. Brookfield Asset Management Ltd. has a 52-week low of $37.29 and a 52-week high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. On average, equities analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be given a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.59%. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, February 28th. Brookfield Asset Management’s dividend payout ratio is 132.58%.

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.