Brookfield Asset Management Ltd. (NYSE:BAM) Sees Large Growth in Short Interest

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) was the recipient of a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 10,780,000 shares, an increase of 19.6% from the January 31st total of 9,010,000 shares. Currently, 8.4% of the company’s shares are short sold. Based on an average daily trading volume, of 1,190,000 shares, the short-interest ratio is currently 9.1 days.

Brookfield Asset Management Price Performance

Shares of NYSE BAM traded down $2.90 during midday trading on Friday, hitting $47.40. 1,456,878 shares of the company’s stock were exchanged, compared to its average volume of 1,256,139. The firm’s fifty day simple moving average is $56.61 and its 200-day simple moving average is $52.65. The company has a market cap of $21.00 billion, a PE ratio of 35.89, a P/E/G ratio of 1.92 and a beta of 1.46. Brookfield Asset Management has a twelve month low of $37.29 and a twelve month high of $62.61.

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 the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. Equities analysts anticipate that Brookfield Asset Management will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date is Friday, February 28th. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 132.58%.

Institutional Investors Weigh In On Brookfield Asset Management

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its position in Brookfield Asset Management by 2.3% in the 4th quarter. FMR LLC now owns 19,646,285 shares of the financial services provider’s stock valued at $1,064,983,000 after purchasing an additional 447,642 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Brookfield Asset Management by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 16,901,942 shares of the financial services provider’s stock valued at $916,676,000 after buying an additional 263,660 shares during the last quarter. TD Asset Management Inc. boosted its stake in shares of Brookfield Asset Management by 8.9% during the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock worth $903,323,000 after buying an additional 1,359,126 shares during the period. Capital International Investors grew its holdings in shares of Brookfield Asset Management by 0.7% during the fourth quarter. Capital International Investors now owns 16,116,518 shares of the financial services provider’s stock worth $873,354,000 after buying an additional 116,008 shares during the last quarter. Finally, FIL Ltd increased its position in Brookfield Asset Management by 3.9% in the 4th quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider’s stock valued at $833,581,000 after acquiring an additional 574,978 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BAM shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, November 11th. BMO Capital Markets lifted their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a report on Thursday, February 13th. HSBC upgraded Brookfield Asset Management from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. UBS Group began coverage on Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating for the company. Finally, Wells Fargo & Company decreased their target price on Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating on the stock in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $56.71.

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.