Whittier Trust Co. of Nevada Inc. Has $359,000 Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Whittier Trust Co. of Nevada Inc. boosted its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 141.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,629 shares of the financial services provider’s stock after acquiring an additional 3,881 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Brookfield Asset Management were worth $359,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC grew its position in Brookfield Asset Management by 11.6% in 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 purchasing an additional 168,170 shares during the period. Laffer Tengler Investments Inc. lifted its stake in Brookfield Asset Management by 24.2% during the 4th quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider’s stock valued at $8,008,000 after acquiring an additional 28,768 shares in the last quarter. Plato Investment Management Ltd lifted its stake in Brookfield Asset Management by 173.7% during the 4th quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider’s stock valued at $564,000 after acquiring an additional 6,580 shares in the last quarter. Tacita Capital Inc lifted its stake in Brookfield Asset Management by 19.3% during the 4th quarter. Tacita Capital Inc now owns 47,767 shares of the financial services provider’s stock valued at $2,585,000 after acquiring an additional 7,743 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Brookfield Asset Management by 103.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider’s stock valued at $216,507,000 after acquiring an additional 2,031,995 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BAM. Hsbc Global Res upgraded Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 14th. Wells Fargo & Company dropped their price objective on Brookfield Asset Management from $54.00 to $50.00 and set an “underweight” rating on the stock in a research note on Thursday. HSBC upgraded Brookfield Asset Management from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. 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 research note on Thursday, February 13th. Finally, Keefe, Bruyette & Woods lowered their target price on 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. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Brookfield Asset Management currently has a consensus rating of “Moderate Buy” and an average target price of $56.38.

Brookfield Asset Management Stock Up 0.3 %

BAM stock opened at $49.52 on Friday. The firm has a market capitalization of $21.94 billion, a PE ratio of 37.52, a PEG ratio of 1.92 and a beta of 1.50. Brookfield Asset Management Ltd. has a twelve month low of $37.29 and a twelve month high of $62.61. The stock has a 50-day simple moving average of $55.18 and a two-hundred day simple moving average of $53.27.

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 EPS for the quarter, topping 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%. On average, equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be given a $0.4375 dividend. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a yield of 3.53%. Brookfield Asset Management’s payout ratio is presently 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.