CTC Alternative Strategies Ltd. Makes New $329,000 Investment in Brookfield Asset Management Ltd. $BAM

Key Points

• CTC Alternative Strategies Ltd. acquired 6,800 shares of Brookfield Asset Management, valued at approximately $329,000, during the first quarter.
• Brookfield Asset Management recently reported earnings per share of $0.38, missing estimates, and announced a quarterly dividend of $0.4375 per share, resulting in a 3.0% yield.
• Analysts have mixed ratings on Brookfield Asset Management, with a current average rating of "Moderate Buy" and a target price of $63.52.

CTC Alternative Strategies Ltd. bought a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 6,800 shares of the financial services provider's stock, valued at approximately $329,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BAM. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Brookfield Asset Management by 975.9% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,765,220 shares of the financial services provider's stock worth $85,463,000 after buying an additional 1,601,155 shares during the last quarter. Millennium Management LLC lifted its holdings in Brookfield Asset Management by 461.5% during the 1st quarter. Millennium Management LLC now owns 1,722,683 shares of the financial services provider's stock worth $83,464,000 after buying an additional 1,415,866 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Brookfield Asset Management by 58.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 3,360,125 shares of the financial services provider's stock worth $163,354,000 after buying an additional 1,246,011 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Brookfield Asset Management by 107.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,363,192 shares of the financial services provider's stock worth $114,497,000 after buying an additional 1,224,012 shares during the last quarter. Finally, AGF Management Ltd. lifted its holdings in Brookfield Asset Management by 60.5% during the 1st quarter. AGF Management Ltd. now owns 1,603,608 shares of the financial services provider's stock worth $77,742,000 after buying an additional 604,395 shares during the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Performance

BAM traded down $0.05 on Friday, hitting $56.68. 1,694,761 shares of the company traded hands, compared to its average volume of 1,898,762. The company has a 50 day moving average of $59.83 and a 200-day moving average of $55.20. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $92.83 billion, a PE ratio of 38.04, a PEG ratio of 2.07 and a beta of 1.44. Brookfield Asset Management Ltd. has a 12-month low of $41.78 and a 12-month high of $64.10.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. The company had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.29 billion. Sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a dividend of $0.4375 per share. The ex-dividend date is Friday, August 29th. This represents a $1.75 annualized dividend and a yield of 3.1%. Brookfield Asset Management's payout ratio is presently 117.45%.

Analyst Upgrades and Downgrades

BAM has been the subject of a number of recent analyst reports. CIBC lifted their price target on Brookfield Asset Management from $70.00 to $71.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Jefferies Financial Group boosted their target price on Brookfield Asset Management from $55.00 to $62.00 and gave the company a "hold" rating in a report on Wednesday, August 13th. National Bankshares set a $71.00 target price on Brookfield Asset Management and gave the company an "outperform" rating in a report on Tuesday, July 29th. Wells Fargo & Company boosted their target price on Brookfield Asset Management from $55.00 to $57.00 and gave the company an "underweight" rating in a report on Friday, July 11th. Finally, National Bank Financial assumed coverage on Brookfield Asset Management in a report on Tuesday, July 29th. They issued an "outperform" rating and a $71.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $63.52.

Brookfield Asset Management Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.