Nicola Wealth Management LTD. Buys 116,000 Shares of Brookfield Asset Management Ltd. $BAM

Nicola Wealth Management LTD. raised its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 115.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 216,558 shares of the financial services provider’s stock after acquiring an additional 116,000 shares during the quarter. Nicola Wealth Management LTD.’s holdings in Brookfield Asset Management were worth $12,325,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Brookfield Asset Management during the second quarter valued at about $294,730,000. State Street Corp increased its stake in Brookfield Asset Management by 11,172.2% during the 2nd 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 in the last quarter. Geode Capital Management LLC raised its holdings in Brookfield Asset Management by 62.4% during the second quarter. Geode Capital Management LLC now owns 3,755,340 shares of the financial services provider’s stock worth $208,571,000 after buying an additional 1,443,441 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Brookfield Asset Management by 25.5% during the second quarter. The Manufacturers Life Insurance Company now owns 4,218,119 shares of the financial services provider’s stock worth $232,402,000 after acquiring an additional 857,994 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Brookfield Asset Management by 36.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,406,520 shares of the financial services provider’s stock worth $133,281,000 after acquiring an additional 641,300 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Down 0.4%

BAM stock opened at $51.07 on Tuesday. The business has a fifty day moving average price of $52.62 and a 200-day moving average price of $56.13. Brookfield Asset Management Ltd. has a 1-year low of $41.78 and a 1-year high of $64.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $83.65 billion, a P/E ratio of 31.92, a P/E/G ratio of 2.20 and a beta of 1.39.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Friday, November 7th. The financial services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Brookfield Asset Management had a return on equity of 33.77% and a net margin of 58.25%. Equities analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th were issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, November 28th. Brookfield Asset Management’s payout ratio is 109.38%.

Wall Street Analyst Weigh In

BAM has been the subject of a number of recent research reports. Keefe, Bruyette & Woods decreased their price objective on Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating for the company in a report on Monday, November 10th. Scotiabank cut their price objective on shares of Brookfield Asset Management from $67.25 to $65.75 and set a “sector outperform” rating for the company in a report on Monday, November 10th. Wall Street Zen raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Morgan Stanley set a $62.00 price objective on shares of Brookfield Asset Management in a research report on Monday, October 13th. Finally, Royal Bank Of Canada set a $74.00 price target on shares of Brookfield Asset Management and gave the stock an “outperform” rating in a research note on Monday, December 15th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.38.

About Brookfield Asset Management

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.