Hi Line Capital Management LLC Grows Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Hi Line Capital Management LLC lifted its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 33,163 shares of the financial services provider’s stock after acquiring an additional 677 shares during the period. Brookfield Asset Management makes up approximately 0.5% of Hi Line Capital Management LLC’s investment portfolio, making the stock its 25th largest holding. Hi Line Capital Management LLC’s holdings in Brookfield Asset Management were worth $1,394,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norges Bank purchased a new stake in Brookfield Asset Management in the fourth quarter valued at approximately $239,421,000. FIL Ltd increased its stake in shares of Brookfield Asset Management by 66.1% in the fourth quarter. FIL Ltd now owns 11,314,071 shares of the financial services provider’s stock worth $454,424,000 after acquiring an additional 4,501,410 shares during the period. Beutel Goodman & Co Ltd. raised its holdings in shares of Brookfield Asset Management by 114.5% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 6,922,224 shares of the financial services provider’s stock worth $279,387,000 after purchasing an additional 3,695,774 shares during the last quarter. TD Asset Management Inc lifted its position in Brookfield Asset Management by 29.2% during the fourth quarter. TD Asset Management Inc now owns 11,498,183 shares of the financial services provider’s stock valued at $464,078,000 after purchasing an additional 2,595,793 shares during the period. Finally, Capital World Investors boosted its holdings in Brookfield Asset Management by 10.0% in the fourth quarter. Capital World Investors now owns 24,562,364 shares of the financial services provider’s stock valued at $986,656,000 after purchasing an additional 2,241,372 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Trading Down 0.6 %

BAM traded down $0.24 during midday trading on Monday, hitting $37.81. The company’s stock had a trading volume of 264,571 shares, compared to its average volume of 1,423,605. The firm has a 50-day moving average price of $39.05 and a two-hundred day moving average price of $39.84. Brookfield Asset Management Ltd. has a 52-week low of $28.35 and a 52-week high of $43.00. The firm has a market cap of $16.78 billion, a P/E ratio of 35.10, a PEG ratio of 1.72 and a beta of 1.63.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. The company had revenue of $884.00 million for the quarter. On average, equities analysts expect that Brookfield Asset Management Ltd. will post 1.47 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 31st were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.52 annualized dividend and a dividend yield of 4.02%. Brookfield Asset Management’s dividend payout ratio (DPR) is 140.74%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. initiated coverage on shares of Brookfield Asset Management in a report on Wednesday, May 15th. They set a “neutral” rating and a $41.00 target price for the company. Scotiabank lowered their price target on Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating on the stock in a research note on Thursday, May 9th. Finally, Royal Bank of Canada lifted their price objective on Brookfield Asset Management from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Brookfield Asset Management presently has a consensus rating of “Moderate Buy” and an average target price of $42.14.

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.