Tacita Capital Inc Grows Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Tacita Capital Inc raised its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 19.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,767 shares of the financial services provider’s stock after acquiring an additional 7,743 shares during the period. Brookfield Asset Management makes up 1.8% of Tacita Capital Inc’s investment portfolio, making the stock its 19th largest position. Tacita Capital Inc’s holdings in Brookfield Asset Management were worth $2,585,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. TD Securities raised their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a report on Monday, February 10th. CIBC raised their price objective on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods decreased their price objective on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a report on Monday, January 13th. BMO Capital Markets raised their price objective on Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a report on Thursday, February 13th. Finally, Scotiabank decreased their price target on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Three 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $56.71.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $55.41 on Tuesday. The firm has a market cap of $24.55 billion, a P/E ratio of 41.98, a P/E/G ratio of 1.92 and a beta of 1.46. Brookfield Asset Management Ltd. has a fifty-two week low of $37.29 and a fifty-two week high of $62.61. The business’s 50 day moving average price is $56.80 and its 200-day moving average price is $52.57.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently disclosed 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 is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Friday, February 28th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 132.58%.

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.