Sequoia Financial Advisors LLC Raises Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Sequoia Financial Advisors LLC increased its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 13.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 339,948 shares of the financial services provider’s stock after buying an additional 39,340 shares during the period. Sequoia Financial Advisors LLC owned about 0.08% of Brookfield Asset Management worth $18,422,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new stake in Brookfield Asset Management in the 3rd quarter worth approximately $27,000. Versant Capital Management Inc grew 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 purchasing an additional 771 shares during the period. Continuum Advisory LLC increased its stake in 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 purchasing an additional 329 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position 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 buying an additional 319 shares during the period. Finally, Global Retirement Partners LLC boosted its stake in Brookfield Asset Management by 170.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,406 shares of the financial services provider’s stock worth $76,000 after buying an additional 887 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

BAM has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. CIBC upped their price target on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. UBS Group began coverage on shares of Brookfield Asset Management in a report on Monday, December 16th. They issued a “buy” rating on the stock. TD Securities upped their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Finally, The Goldman Sachs Group increased their target price on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $56.71.

Brookfield Asset Management Stock Performance

Brookfield Asset Management stock opened at $46.66 on Wednesday. The firm has a market capitalization of $20.67 billion, a PE ratio of 35.34, a price-to-earnings-growth ratio of 1.92 and a beta of 1.50. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $62.61. The stock’s 50 day moving average price is $56.19 and its 200 day moving average price is $52.97.

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

Brookfield Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be given a $0.4375 dividend. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Asset Management’s dividend payout ratio is presently 132.58%.

Brookfield Asset Management Company 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.