HighTower Advisors LLC Buys 32,788 Shares of Brookfield Asset Management Ltd. $BAM

HighTower Advisors LLC lifted its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 17.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 219,485 shares of the financial services provider’s stock after buying an additional 32,788 shares during the period. HighTower Advisors LLC’s holdings in Brookfield Asset Management were worth $12,498,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of BAM. PDS Planning Inc boosted its position in Brookfield Asset Management by 4.8% during the 3rd quarter. PDS Planning Inc now owns 4,054 shares of the financial services provider’s stock valued at $231,000 after acquiring an additional 184 shares in the last quarter. Truist Financial Corp raised its position in shares of Brookfield Asset Management by 1.4% in the 3rd quarter. Truist Financial Corp now owns 13,240 shares of the financial services provider’s stock worth $754,000 after acquiring an additional 187 shares in the last quarter. GoalVest Advisory LLC lifted its stake in shares of Brookfield Asset Management by 9.5% in the 2nd quarter. GoalVest Advisory LLC now owns 2,180 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 190 shares during the period. Yousif Capital Management LLC boosted its position in shares of Brookfield Asset Management by 2.1% during the third quarter. Yousif Capital Management LLC now owns 11,010 shares of the financial services provider’s stock valued at $627,000 after purchasing an additional 226 shares in the last quarter. Finally, Cullen Frost Bankers Inc. grew its stake in Brookfield Asset Management by 38.0% in the third quarter. Cullen Frost Bankers Inc. now owns 846 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 233 shares during the period. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $50.60 on Friday. Brookfield Asset Management Ltd. has a one year low of $41.78 and a one year high of $64.10. The company’s 50-day moving average is $52.10 and its 200 day moving average is $54.91. The company has a market capitalization of $82.88 billion, a price-to-earnings ratio of 33.29, a price-to-earnings-growth ratio of 1.82 and a beta of 1.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.97 and a current ratio of 0.97.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.06. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.67%. Sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be given a $0.5025 dividend. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.01 annualized dividend and a yield of 4.0%. Brookfield Asset Management’s payout ratio is currently 132.24%.

Wall Street Analysts Forecast Growth

BAM has been the subject of several recent research reports. Morgan Stanley set a $63.00 price objective on Brookfield Asset Management in a research report on Tuesday. Loop Capital set a $60.00 price target on shares of Brookfield Asset Management in a research report on Tuesday, January 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Brookfield Asset Management in a research note on Monday, December 22nd. UBS Group set a $52.00 price objective on shares of Brookfield Asset Management in a report on Friday. Finally, Royal Bank Of Canada set a $74.00 target price on shares of Brookfield Asset Management and gave the company an “outperform” rating in a report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $63.65.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.