588,390 Shares in Brookfield Asset Management Ltd. $BAM Acquired by GFI Investment Counsel Ltd.

Key Points

• GFI Investment Counsel Ltd. opened a new position in Brookfield Asset Management during the fourth quarter, buying 588,390 shares valued at about $30.8 million. The stake makes BAM roughly 3.3% of its holdings and its 14th-largest position.
• Other institutional investors also increased exposure to Brookfield Asset Management, and overall hedge funds and institutions own 68.41% of the company. Recent filings showed notable buying activity from firms like Corient Private Wealth and XTX Topco.
• Brookfield Asset Management reported Q1 EPS of $0.43, topping estimates, and recently declared a quarterly dividend of $0.5025 per share to be paid June 30, implying a 4.2% annualized yield. Analysts currently rate the stock Hold on average, with a consensus target price of $60.21.

GFI Investment Counsel Ltd. bought a new position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 588,390 shares of the financial services provider's stock, valued at approximately $30,843,000. Brookfield Asset Management comprises approximately 3.3% of GFI Investment Counsel Ltd.'s holdings, making the stock its 14th biggest holding.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Birchwood Financial Partners Inc. bought a new position in Brookfield Asset Management during the fourth quarter valued at approximately $110,000. Corient Private Wealth LLC lifted its holdings in shares of Brookfield Asset Management by 0.3% in the 4th quarter. Corient Private Wealth LLC now owns 1,370,902 shares of the financial services provider's stock worth $70,879,000 after acquiring an additional 4,113 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of Brookfield Asset Management by 62.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 11,385 shares of the financial services provider's stock valued at $596,000 after purchasing an additional 4,360 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of Brookfield Asset Management by 125.4% in the 4th quarter. NewEdge Advisors LLC now owns 1,891 shares of the financial services provider's stock valued at $99,000 after purchasing an additional 1,052 shares in the last quarter. Finally, XTX Topco Ltd grew its holdings in shares of Brookfield Asset Management by 299.3% during the 4th quarter. XTX Topco Ltd now owns 29,823 shares of the financial services provider's stock valued at $1,562,000 after purchasing an additional 22,355 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Zacks Research cut shares of Brookfield Asset Management from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 20th. Wall Street Zen cut shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. The Goldman Sachs Group decreased their target price on Brookfield Asset Management from $60.00 to $49.00 and set a "buy" rating for the company in a research report on Tuesday, April 7th. UBS Group set a $52.00 price objective on Brookfield Asset Management in a report on Friday, February 20th. Finally, JPMorgan Chase & Co. lowered their price objective on Brookfield Asset Management from $72.00 to $60.00 and set a "neutral" rating for the company in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $60.21.

Brookfield Asset Management Trading Down 1.0%

Brookfield Asset Management stock opened at $47.48 on Friday. The business's fifty day moving average is $47.71 and its 200 day moving average is $49.06. 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 capitalization of $77.78 billion, a PE ratio of 30.83, a price-to-earnings-growth ratio of 1.93 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 (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings data 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 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%. On average, sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.75 EPS for the current year.

Brookfield Asset Management Announces Dividend

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

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