Fiera Capital Corp Boosts Stake in Brookfield Asset Management Ltd. $BAM

Fiera Capital Corp increased its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 78.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 330,204 shares of the financial services provider’s stock after buying an additional 145,476 shares during the quarter. Fiera Capital Corp’s holdings in Brookfield Asset Management were worth $17,303,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LOM Asset Management Ltd purchased a new stake in shares of Brookfield Asset Management in the 4th quarter worth approximately $31,000. eCIO Inc. purchased a new stake in shares of Brookfield Asset Management in the 4th quarter worth approximately $42,000. Assetmark Inc. grew its stake in shares of Brookfield Asset Management by 95.9% in the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock worth $46,000 after buying an additional 395 shares during the last quarter. Cary Street Partners Financial LLC grew its stake in shares of Brookfield Asset Management by 227.5% in the 3rd quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock worth $46,000 after buying an additional 562 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in Brookfield Asset Management by 47.8% during the 4th quarter. Allworth Financial LP now owns 1,029 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 333 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

BAM has been the topic of several recent analyst reports. UBS Group set a $52.00 target price on Brookfield Asset Management in a research note on Friday, February 20th. Weiss Ratings downgraded Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 15th. 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 research note on Tuesday, April 21st. Canadian Imperial Bank of Commerce set a $62.50 target price on Brookfield Asset Management in a research note on Monday, May 11th. Finally, Scotiabank reiterated an “outperform” rating and set a $57.00 target price (up from $56.00) on shares of Brookfield Asset Management in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.21.

Brookfield Asset Management Price Performance

NYSE BAM opened at $45.94 on Tuesday. The business’s fifty day moving average price is $47.18 and its 200-day moving average price is $49.28. The stock has a market capitalization of $75.25 billion, a price-to-earnings ratio of 29.83, a PEG ratio of 1.85 and a beta of 1.26. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38. Brookfield Asset Management Ltd. has a 1-year low of $42.20 and a 1-year high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.02. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%. On average, equities analysts predict 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. Stockholders of record on Friday, May 29th will be issued a dividend of $0.5025 per share. This represents a $2.01 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, May 29th. Brookfield Asset Management’s dividend 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.