Jackson Hole Capital Partners LLC Has $392,000 Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Jackson Hole Capital Partners LLC lifted its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.1% in the fourth quarter, HoldingsChannel reports. The firm owned 9,770 shares of the financial services provider’s stock after purchasing an additional 291 shares during the period. Jackson Hole Capital Partners LLC’s holdings in Brookfield Asset Management were worth $392,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Private Trust Co. NA boosted its position in Brookfield Asset Management by 180.4% during the 3rd quarter. Private Trust Co. NA now owns 1,057 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 680 shares during the period. Signaturefd LLC boosted its position in Brookfield Asset Management by 106.4% during the 3rd quarter. Signaturefd LLC now owns 1,482 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 764 shares during the period. Bfsg LLC acquired a new stake in Brookfield Asset Management during the 4th quarter worth about $51,000. Mitsubishi UFJ Trust & Banking Corp boosted its position in Brookfield Asset Management by 39.6% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,764 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 500 shares during the period. Finally, CWM LLC boosted its position in Brookfield Asset Management by 48.5% during the 3rd quarter. CWM LLC now owns 1,959 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 640 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Stock Up 1.9 %

Shares of BAM traded up $0.73 during midday trading on Friday, reaching $39.70. 837,993 shares of the stock were exchanged, compared to its average volume of 1,169,569. The firm has a 50 day simple moving average of $40.90 and a 200-day simple moving average of $37.73. Brookfield Asset Management Ltd. has a 12-month low of $28.35 and a 12-month high of $43.00. The company has a market cap of $16.40 billion, a price-to-earnings ratio of 34.78, a P/E/G ratio of 1.51 and a beta of 1.68.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. Brookfield Asset Management had a return on equity of 96.43% and a net margin of 50.23%. The business had revenue of $1.13 billion for the quarter. During the same period in the previous year, the business posted $0.31 earnings per share. Research analysts expect that Brookfield Asset Management Ltd. will post 1.49 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.83%. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.32. The ex-dividend date was Wednesday, February 28th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

Analysts Set New Price Targets

A number of brokerages have commented on BAM. CIBC raised their price objective on Brookfield Asset Management from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Royal Bank of Canada raised their price objective on Brookfield Asset Management from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. Scotiabank raised their price objective on Brookfield Asset Management from $46.50 to $47.00 and gave the stock a “sector outperform” rating in a research report on Thursday, February 8th. HSBC downgraded Brookfield Asset Management from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Finally, TD Securities cut their price target on Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating for the company in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.20.

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.