Herbst Group LLC Acquires Shares of 27,225 Brookfield Asset Management Ltd. $BAM

Herbst Group LLC bought a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 27,225 shares of the financial services provider’s stock, valued at approximately $1,426,000.

A number of other institutional investors have also recently modified their holdings of the business. State Street Corp boosted its position 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 worth $194,845,000 after purchasing an additional 3,493,431 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Brookfield Asset Management by 2,834.0% during the 3rd quarter. Legal & General Group Plc now owns 2,365,709 shares of the financial services provider’s stock worth $134,659,000 after buying an additional 2,285,077 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Brookfield Asset Management by 72.6% during 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 buying an additional 1,642,375 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Brookfield Asset Management by 25.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,218,119 shares of the financial services provider’s stock valued at $232,402,000 after buying an additional 857,994 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Brookfield Asset Management by 36.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,406,520 shares of the financial services provider’s stock valued at $133,281,000 after acquiring an additional 641,300 shares during the period. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Price Performance

Shares of NYSE BAM opened at $44.10 on Thursday. The firm has a 50-day simple moving average of $47.73 and a 200-day simple moving average of $51.99. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $72.25 billion, a price-to-earnings ratio of 29.02, a price-to-earnings-growth ratio of 1.57 and a beta of 1.38. Brookfield Asset Management Ltd. has a 52 week low of $41.78 and a 52 week high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.06. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.81%. On average, equities analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th were given a $0.5025 dividend. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.6%. This is a boost 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%.

Wall Street Analysts Forecast Growth

BAM has been the subject of a number of research analyst reports. Scotiabank reduced their price objective on shares of Brookfield Asset Management from $64.00 to $56.00 and set an “outperform” rating for the company in a research report on Wednesday, March 25th. Loop Capital set a $60.00 target price on shares of Brookfield Asset Management in a research note on Tuesday, January 6th. Wall Street Zen upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. JPMorgan Chase & Co. raised their price target on shares of Brookfield Asset Management from $68.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Finally, Royal Bank Of Canada set a $74.00 price objective on Brookfield Asset Management and gave the stock an “outperform” rating in a report on Monday, December 15th. One investment 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, Brookfield Asset Management currently has a consensus rating of “Hold” and an average target price of $63.18.

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.