Portland Investment Counsel Inc. Buys 19,950 Shares of Brookfield Asset Management Ltd. $BAM

Portland Investment Counsel Inc. raised its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.1% during the second quarter, Holdings Channel reports. The institutional investor owned 414,100 shares of the financial services provider’s stock after buying an additional 19,950 shares during the quarter. Brookfield Asset Management makes up about 6.7% of Portland Investment Counsel Inc.’s investment portfolio, making the stock its 7th biggest holding. Portland Investment Counsel Inc.’s holdings in Brookfield Asset Management were worth $22,906,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd bought a new position in Brookfield Asset Management in the first quarter valued at about $205,000. Cetera Investment Advisers lifted its position in Brookfield Asset Management by 37.9% during the 1st quarter. Cetera Investment Advisers now owns 40,042 shares of the financial services provider’s stock valued at $1,938,000 after purchasing an additional 11,008 shares during the period. HB Wealth Management LLC boosted its stake in shares of Brookfield Asset Management by 70.7% in the 1st quarter. HB Wealth Management LLC now owns 8,003 shares of the financial services provider’s stock valued at $388,000 after purchasing an additional 3,316 shares during the last quarter. LPL Financial LLC grew its position in shares of Brookfield Asset Management by 6.1% during the 1st quarter. LPL Financial LLC now owns 55,354 shares of the financial services provider’s stock worth $2,682,000 after buying an additional 3,173 shares during the period. Finally, Foundations Investment Advisors LLC raised its stake in shares of Brookfield Asset Management by 33.6% during the first quarter. Foundations Investment Advisors LLC now owns 15,569 shares of the financial services provider’s stock worth $754,000 after buying an additional 3,919 shares during the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Trading Up 1.4%

BAM opened at $52.04 on Friday. The stock has a market capitalization of $85.23 billion, a P/E ratio of 34.92, a P/E/G ratio of 2.04 and a beta of 1.38. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.14. Brookfield Asset Management Ltd. has a 12 month low of $41.78 and a 12 month high of $64.10. The firm’s fifty day simple moving average is $54.87 and its 200 day simple moving average is $57.11.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Friday, November 7th. The financial services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%.The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.34 billion. As a group, research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be issued a dividend of $0.4375 per share. The ex-dividend date is Friday, November 28th. This represents a $1.75 annualized dividend and a yield of 3.4%. Brookfield Asset Management’s dividend payout ratio is presently 109.38%.

Analyst Ratings Changes

A number of equities analysts have issued reports on BAM shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Brookfield Asset Management in a research note on Monday. Keefe, Bruyette & Woods reduced their price target on Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating on the stock in a research report on Monday, November 10th. National Bankshares dropped their price objective on Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating for the company in a report on Monday, October 27th. Jefferies Financial Group raised their target price on Brookfield Asset Management from $55.00 to $62.00 and gave the stock a “hold” rating in a report on Wednesday, August 13th. Finally, CIBC upped their price target on Brookfield Asset Management from $70.00 to $71.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Brookfield Asset Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.32.

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.