Intact Investment Management Inc. Grows Position in Brookfield Asset Management Ltd. $BAM

Intact Investment Management Inc. raised its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 32.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 782,558 shares of the financial services provider’s stock after purchasing an additional 191,998 shares during the quarter. Brookfield Asset Management makes up approximately 1.2% of Intact Investment Management Inc.’s portfolio, making the stock its 23rd largest holding. Intact Investment Management Inc.’s holdings in Brookfield Asset Management were worth $40,992,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BAM. AQR Capital Management LLC purchased a new stake in Brookfield Asset Management during the first quarter valued at about $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Brookfield Asset Management by 10.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,050 shares of the financial services provider’s stock valued at $12,648,000 after purchasing an additional 24,013 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Brookfield Asset Management by 24.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,512 shares of the financial services provider’s stock valued at $139,000 after purchasing an additional 497 shares during the last quarter. Cerity Partners LLC lifted its holdings in Brookfield Asset Management by 17.6% during the second quarter. Cerity Partners LLC now owns 34,666 shares of the financial services provider’s stock valued at $1,916,000 after purchasing an additional 5,184 shares during the last quarter. Finally, State Street Corp lifted its holdings in Brookfield Asset Management by 11,172.2% during the second quarter. State Street Corp now owns 3,524,700 shares of the financial services provider’s stock valued at $194,845,000 after purchasing an additional 3,493,431 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Trading Up 0.1%

Shares of Brookfield Asset Management stock opened at $48.01 on Monday. Brookfield Asset Management Ltd. has a 12-month low of $42.20 and a 12-month high of $64.10. The company has a market cap of $78.65 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 1.97 and a beta of 1.28. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average price is $45.92 and its 200-day moving average price is $50.26.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.81%. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.40 billion. On average, equities analysts expect that Brookfield Asset Management Ltd. will post 1.74 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 Tuesday, March 31st. Investors of record on Friday, February 27th were given a $0.5025 dividend. This represents a $2.01 annualized dividend and a dividend yield of 4.2%. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.44. The ex-dividend date was Friday, February 27th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 132.24%.

Analysts Set New Price Targets

Several research firms have commented on BAM. Morgan Stanley dropped their price objective on shares of Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. UBS Group set a $52.00 price target on shares of Brookfield Asset Management in a report on Friday, February 20th. Zacks Research downgraded shares of Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a report on Friday, March 20th. The Goldman Sachs Group lowered their price target on shares of Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Finally, Loop Capital set a $60.00 price target on shares of Brookfield Asset Management in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Brookfield Asset Management presently has an average rating of “Hold” and an average price target of $61.76.

Brookfield Asset Management Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.