Smith Salley Wealth Management Has $6.05 Million Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Smith Salley Wealth Management lifted its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 111,718 shares of the financial services provider’s stock after acquiring an additional 954 shares during the quarter. Smith Salley Wealth Management’s holdings in Brookfield Asset Management were worth $6,054,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Mackenzie Financial Corp increased its position in Brookfield Asset Management by 19.5% in the second quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock worth $514,867,000 after purchasing an additional 2,205,040 shares during the period. Bank of Montreal Can grew its position in shares of Brookfield Asset Management by 0.5% during the 3rd quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider’s stock worth $435,729,000 after buying an additional 43,134 shares during the period. Principal Financial Group Inc. grew its position in shares of Brookfield Asset Management by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock worth $419,400,000 after buying an additional 24,409 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Brookfield Asset Management by 68.5% during the second quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock worth $260,770,000 after buying an additional 2,788,611 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in Brookfield Asset Management by 10.3% in the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock valued at $188,057,000 after acquiring an additional 370,383 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BAM. TD Securities upped their target price on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Scotiabank upped their price objective on Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a report on Tuesday, November 5th. BMO Capital Markets raised their target price on Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Keefe, Bruyette & Woods lowered their price target on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research note on Monday, January 13th. Finally, StockNews.com lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $54.38.

Brookfield Asset Management Trading Up 0.9 %

BAM opened at $55.56 on Friday. The stock has a market capitalization of $24.62 billion, a P/E ratio of 49.17, a P/E/G ratio of 1.75 and a beta of 1.45. Brookfield Asset Management Ltd. has a 12 month low of $37.29 and a 12 month high of $59.58. The firm’s fifty day simple moving average is $55.82 and its 200 day simple moving average is $48.59.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the firm earned $0.35 earnings per share. On average, equities research analysts predict that Brookfield Asset Management Ltd. will post 1.45 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.74%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

About Brookfield Asset Management

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.