42,240 Shares in Brookfield Asset Management Ltd. $BAM Bought by Strategic Advisors LLC

Strategic Advisors LLC bought a new position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 42,240 shares of the financial services provider’s stock, valued at approximately $2,213,000.

A number of other large investors also recently modified their holdings of BAM. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Brookfield Asset Management by 72.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,904,677 shares of the financial services provider’s stock valued at $222,161,000 after acquiring an additional 1,642,375 shares during the period. Vanguard Group Inc. increased its stake in Brookfield Asset Management by 1.5% in the third quarter. Vanguard Group Inc. now owns 17,425,392 shares of the financial services provider’s stock valued at $991,677,000 after acquiring an additional 253,789 shares during the last quarter. Cumberland Partners Ltd increased its stake in Brookfield Asset Management by 78.0% in the third quarter. Cumberland Partners Ltd now owns 126,015 shares of the financial services provider’s stock valued at $7,168,000 after acquiring an additional 55,225 shares during the last quarter. Hillsdale Investment Management Inc. boosted its position in Brookfield Asset Management by 65.6% in the third quarter. Hillsdale Investment Management Inc. now owns 254,212 shares of the financial services provider’s stock valued at $14,463,000 after buying an additional 100,713 shares in the last quarter. Finally, Fiera Capital Corp boosted its position in Brookfield Asset Management by 21.7% in the third quarter. Fiera Capital Corp now owns 184,728 shares of the financial services provider’s stock valued at $10,509,000 after buying an additional 32,923 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Down 0.9%

BAM opened at $48.17 on Tuesday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average price of $46.88 and a 200-day moving average price of $49.46. Brookfield Asset Management Ltd. has a twelve month low of $42.20 and a twelve month high of $64.10. The stock has a market capitalization of $78.91 billion, a price-to-earnings ratio of 31.28, a PEG ratio of 1.95 and a beta of 1.28.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. Equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.75 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be given a $0.5025 dividend. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Friday, May 29th. Brookfield Asset Management’s dividend payout ratio is presently 130.52%.

Analyst Upgrades and Downgrades

Several research analysts have commented on BAM shares. Morgan Stanley cut their target price on 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. Weiss Ratings cut Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 15th. The Goldman Sachs Group cut their price objective on shares of Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Piper Sandler reissued a “neutral” rating and issued a $50.00 price target (up from $48.00) on shares of Brookfield Asset Management in a report on Monday, May 18th. Finally, BMO Capital Markets upgraded shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Asset Management presently has an average rating of “Hold” and an average price target of $60.21.

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.