Korea Investment CORP Has $12.41 Million Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Korea Investment CORP raised its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 77.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 228,895 shares of the financial services provider’s stock after buying an additional 100,233 shares during the period. Korea Investment CORP’s holdings in Brookfield Asset Management were worth $12,408,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BAM. Truvestments Capital LLC grew its position in Brookfield Asset Management by 487.2% in the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 419 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new position in shares of Brookfield Asset Management in the 4th quarter valued at about $32,000. Versant Capital Management Inc increased its position in shares of Brookfield Asset Management by 1,606.3% in the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 771 shares during the last quarter. Continuum Advisory LLC increased its position in shares of Brookfield Asset Management by 42.2% in the third quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 329 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in Brookfield Asset Management by 35.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 319 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Trading Down 3.8 %

Brookfield Asset Management stock opened at $48.48 on Monday. The company has a market capitalization of $79.37 billion, a price-to-earnings ratio of 36.72, a PEG ratio of 1.92 and a beta of 1.50. Brookfield Asset Management Ltd. has a 12 month low of $37.29 and a 12 month high of $62.61. The stock’s 50 day moving average is $54.84 and its 200-day moving average is $53.66.

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

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 3.61%. 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 (DPR) is currently 132.58%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Scotiabank lowered their price target on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. TD Securities boosted their target price on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, February 10th. UBS Group assumed coverage on shares of Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating for the company. Keefe, Bruyette & Woods lowered their price objective on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research note on Monday, January 13th. Finally, Wells Fargo & Company cut their target price on shares of Brookfield Asset Management from $54.00 to $50.00 and set an “underweight” rating for the company in a research note on Thursday, March 20th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.38.

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.