Healthcare of Ontario Pension Plan Trust Fund Buys 142,000 Shares of Brookfield Asset Management Ltd. $BAM

Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 17.7% during the 1st quarter, Holdings Channel reports. The firm owned 942,000 shares of the financial services provider’s stock after buying an additional 142,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Brookfield Asset Management were worth $41,867,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Renaissance Technologies LLC grew its stake in shares of Brookfield Asset Management by 283.7% in the first quarter. Renaissance Technologies LLC now owns 1,103,325 shares of the financial services provider’s stock valued at $49,043,000 after buying an additional 815,800 shares in the last quarter. Sei Investments Co. raised its position in Brookfield Asset Management by 63.3% during the first quarter. Sei Investments Co. now owns 195,489 shares of the financial services provider’s stock worth $8,689,000 after acquiring an additional 75,814 shares in the last quarter. Cetera Investment Advisers raised its position in Brookfield Asset Management by 26.5% during the first quarter. Cetera Investment Advisers now owns 64,834 shares of the financial services provider’s stock worth $2,875,000 after acquiring an additional 13,597 shares in the last quarter. NewEdge Wealth LLC lifted its stake in Brookfield Asset Management by 6.4% in the first quarter. NewEdge Wealth LLC now owns 5,739 shares of the financial services provider’s stock valued at $255,000 after acquiring an additional 344 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Brookfield Asset Management by 3.3% in the first quarter. PNC Financial Services Group Inc. now owns 54,570 shares of the financial services provider’s stock valued at $2,426,000 after acquiring an additional 1,755 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Morgan Stanley set a $56.00 price objective on shares of Brookfield Asset Management and gave the company an “equal weight” rating in a research report on Tuesday. JPMorgan Chase & Co. dropped their target price on shares of Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating on the stock in a report on Wednesday, May 6th. Canadian Imperial Bank of Commerce set a $62.50 target price on shares of Brookfield Asset Management in a research note on Monday, May 11th. Weiss Ratings cut Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 15th. Finally, The Goldman Sachs Group lowered their price target on Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $60.03.

Brookfield Asset Management Trading Up 1.4%

BAM stock opened at $46.35 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38. The company has a fifty day moving average price of $47.00 and a two-hundred day moving average price of $47.87. Brookfield Asset Management Ltd. has a one year low of $42.20 and a one year high of $64.10. The stock has a market cap of $75.93 billion, a price-to-earnings ratio of 30.10, a price-to-earnings-growth ratio of 1.89 and a beta of 1.29.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.43 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. Equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.76 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were issued a dividend of $0.5025 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.01 annualized dividend and a dividend yield of 4.3%. Brookfield Asset Management’s payout ratio is presently 130.52%.

Brookfield Asset Management Company 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.