Tocqueville Asset Management L.P. Acquires 3,124 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Tocqueville Asset Management L.P. lifted its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 235,787 shares of the financial services provider’s stock after acquiring an additional 3,124 shares during the period. Tocqueville Asset Management L.P.’s holdings in Brookfield Asset Management were worth $12,777,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. William Blair Investment Management LLC acquired a new stake in Brookfield Asset Management during the fourth quarter worth about $204,169,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Brookfield Asset Management by 103.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider’s stock worth $216,507,000 after acquiring an additional 2,031,995 shares during the period. Madison Investment Advisors LLC acquired a new stake in shares of Brookfield Asset Management during the 4th quarter worth approximately $94,122,000. Segall Bryant & Hamill LLC bought a new stake in shares of Brookfield Asset Management during the third quarter valued at approximately $19,075,000. Finally, Proficio Capital Partners LLC raised its stake in shares of Brookfield Asset Management by 5,331.6% in the fourth quarter. Proficio Capital Partners LLC now owns 351,205 shares of the financial services provider’s stock valued at $19,032,000 after purchasing an additional 344,739 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

Shares of BAM opened at $47.90 on Tuesday. The company has a market cap of $21.23 billion, a price-to-earnings ratio of 36.29, a PEG ratio of 1.92 and a beta of 1.50. The stock has a fifty day moving average price of $55.59 and a two-hundred day moving average price of $53.12. Brookfield Asset Management Ltd. has a 52-week low of $37.29 and a 52-week high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, beating 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, research analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently announced 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. The ex-dividend date is Friday, February 28th. This is an increase 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 3.65%. Brookfield Asset Management’s payout ratio is currently 132.58%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BAM shares. CIBC lifted 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 note on Thursday, January 30th. HSBC upgraded shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Hsbc Global Res raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. UBS Group began coverage on Brookfield Asset Management in a report on Monday, December 16th. They set a “buy” rating on the stock. Finally, StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus 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.