Wealth Enhancement Advisory Services LLC Has $2.28 Million Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Wealth Enhancement Advisory Services LLC increased its position in Brookfield Asset Management Ltd. (NYSE:BAMFree Report) (TSE:BAM.A) by 7.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,148 shares of the financial services provider’s stock after buying an additional 2,914 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Brookfield Asset Management were worth $2,284,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Truvestments Capital LLC grew its holdings in Brookfield Asset Management by 487.2% during the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 419 shares during the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in Brookfield Asset Management during the fourth quarter valued at approximately $32,000. NewEdge Advisors LLC grew its holdings in Brookfield Asset Management by 61.0% during the fourth quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 325 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in Brookfield Asset Management during the fourth quarter valued at approximately $54,000. Finally, Redwood Park Advisors LLC acquired a new position in Brookfield Asset Management during the fourth quarter valued at approximately $64,000. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

BAM has been the topic of several analyst reports. Bank of America upgraded Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Thursday, April 10th. TD Securities increased their price target on Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Scotiabank increased their price target on Brookfield Asset Management from $58.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. HSBC upgraded Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Finally, Wells Fargo & Company raised their price objective on shares of Brookfield Asset Management from $54.00 to $55.00 and gave the stock an “underweight” rating in a research note on Friday, May 23rd. Two analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Brookfield Asset Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.15.

View Our Latest Report on Brookfield Asset Management

Brookfield Asset Management Price Performance

Shares of Brookfield Asset Management stock opened at $56.62 on Friday. Brookfield Asset Management Ltd. has a 52-week low of $37.29 and a 52-week high of $62.61. The firm has a market capitalization of $91.30 billion, a PE ratio of 42.89, a price-to-earnings-growth ratio of 1.92 and a beta of 1.56. The company’s fifty day moving average price is $52.85 and its two-hundred day moving average price is $54.38.

Brookfield Asset Management (NYSE:BAMGet Free Report) (TSE:BAM.A) last posted its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.40. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. Analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be paid a $0.4375 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.75 dividend on an annualized basis and a yield of 3.09%. Brookfield Asset Management’s payout ratio is currently 124.11%.

About Brookfield Asset Management

(Free Report)

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.

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Institutional Ownership by Quarter for Brookfield Asset Management (NYSE:BAM)

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