Choate Investment Advisors Buys 467 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Choate Investment Advisors raised its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,580 shares of the financial services provider’s stock after buying an additional 467 shares during the period. Choate Investment Advisors’ holdings in Brookfield Asset Management were worth $519,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Natixis Advisors LLC increased its position in Brookfield Asset Management by 10.1% during the fourth quarter. Natixis Advisors LLC now owns 649,224 shares of the financial services provider’s stock valued at $35,181,000 after acquiring an additional 59,652 shares during the last quarter. Clearstead Trust LLC bought a new stake in shares of Brookfield Asset Management during the 4th quarter valued at about $85,000. Catalyst Funds Management Pty Ltd purchased a new stake in shares of Brookfield Asset Management during the 4th quarter valued at about $2,682,000. Commonwealth Equity Services LLC lifted its stake in shares of Brookfield Asset Management by 6.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 30,869 shares of the financial services provider’s stock worth $1,673,000 after purchasing an additional 1,850 shares during the period. Finally, Madison Investment Advisors LLC purchased a new position in shares of Brookfield Asset Management in the fourth quarter worth approximately $94,122,000. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM opened at $46.89 on Monday. The firm has a market cap of $20.78 billion, a price-to-earnings ratio of 35.52, a P/E/G ratio of 1.92 and a beta of 1.50. The firm has a fifty day moving average price of $55.73 and a 200 day moving average price of $53.07. Brookfield Asset Management Ltd. has a fifty-two week low of $37.29 and a fifty-two week high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, beating 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%. As a group, research analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current 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 paid 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 3.73%. Brookfield Asset Management’s payout ratio is presently 132.58%.

Analyst Ratings Changes

A number of brokerages have commented on BAM. BMO Capital Markets upped 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. Scotiabank cut their price target on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a report on Thursday, February 13th. CIBC raised their price objective on Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Company lowered their price objective on Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating on the stock in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Brookfield Asset Management presently has an average rating of “Hold” and an average price target of $56.71.

Brookfield Asset Management 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.