Bridges Investment Management Increases Stake in Brookfield Asset Management

Bridges Investment Management Inc. has increased its investment in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) (TSE:BAM.A) by a notable 57.9% during the fourth quarter. This information comes from the latest Form 13F filing made with the Securities and Exchange Commission. By the end of this reporting period, Bridges owned a total of 12,439 shares after acquiring an additional 4,560 shares.

The value of Bridges Investment Management's holdings in Brookfield Asset Management was approximately $674,000 as of the end of the fourth quarter.

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Several other institutional investors and hedge funds have also engaged in trading Brookfield Asset Management’s shares. For example, Hara Capital LLC entered a new position in Brookfield during the third quarter, valued at $27,000. Similarly, RPg Family Wealth Advisory LLC also acquired a new stake in the same quarter, valued at $27,000.

Additionally, Versant Capital Management Inc. significantly boosted its position in Brookfield Asset Management by a remarkable 1,606.3% in the last quarter, reaching ownership of 819 shares worth $44,000, an increase attributed to acquiring 771 more shares during that time. Continuum Advisory LLC raised its stake by 42.2% in the third quarter, owning 1,109 shares now valued at $52,000 after adding 329 shares.

Thurston Springer Miller Herd & Titak Inc. amplified its investment in Brookfield Asset Management by 35.1% during the fourth quarter, which led to ownership of 1,227 shares now valued at $66,000 after acquiring 319 more shares. Overall, institutional investors and hedge funds currently hold 68.41% of Brooklyn's stock.

Brookfield Asset Management Price Performance

The trading price for BAM was $56.32 at market open on Monday. The company has recorded a fifty-two week low of $37.29 and a high of $62.61. Brookfield Asset Management has a market capitalization of $24.96 billion, with a PE ratio standing at 42.67 and a P/E/G ratio of 1.92. The stock shows a beta of 1.46, with its 50-day moving average at $56.79 and a 200-day moving average of $52.47.

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Brookfield Asset Management last declared its quarterly earnings on Wednesday, February 12th. The company reported an earnings per share (EPS) of $0.40 for the quarter, surpassing the consensus estimate of $0.39. Brookfield Asset Management's net margin was reported at 54.47%, with a return on equity of 81.16%. Analysts predict Brookfield will report an EPS of 1.7 for the current year.

Brookfield Asset Management Announces Dividend Increase

The firm has also announced a quarterly dividend, which is scheduled to be disbursed on Monday, March 31st. Shareholders who are registered by Friday, February 28th, will receive a dividend payout of $0.4375, marking an increase from the previous quarterly dividend of $0.38. The ex-dividend date for this payout is February 28th, leading to an annualized dividend of $1.75 and a yield of 3.11%. Brookfield's dividend payout ratio stands at 132.58%.

Changes in Analyst Ratings

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Recent reports from various research firms have indicated noteworthy changes regarding Brookfield Asset Management shares. HSBC Global Research upgraded the rating from "hold" to "strong-buy" on February 14th. Additionally, BMO Capital Markets elevated their price target from $50.00 to $53.00, maintaining a "market perform" rating.

Wells Fargo & Company lowered their price target from $55.00 to $54.00, assigning the stock an "underweight" rating on February 13th. In contrast, TD Securities increased their price target from $64.00 to $66.00, providing a "buy" rating, while CIBC raised their price target from $63.00 to $70.00, giving the stock an "outperform" rating. In total, three analysts offer a sell rating, four maintain a hold, eight recommend a buy, and one has issued a strong buy rating for the company. Current data indicates a consensus rating of "Hold" with an average target price of $56.71.

Explore Our Recent Report on BAM

About Brookfield Asset Management

Brookfield Asset Management Ltd. is primarily recognized as a real estate investment firm that specializes in alternative asset management services. Its renewable power and transition sector encompasses operations in hydroelectric, wind, solar, distributed generation, and sustainable solution areas. The infrastructure aspect of the business covers utilities, transport, midstream, and data infrastructure sectors.

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This summary aims to provide quick and clear information regarding recent developments affecting Brookfield Asset Management Inc. and should be helpful for anyone interested in investments related to this financial services company.

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