Brookfield Asset Management Ltd. $BAM Shares Acquired by Cooke & Bieler LP

Key Points

• Cooke & Bieler LP increased its stake in Brookfield Asset Management by 48.6% in the fourth quarter, buying 655,009 additional shares and bringing its total holdings to 2,001,903 shares worth about $104.9 million.
• Several other institutional investors also boosted their positions, and hedge funds and other institutions now own 68.41% of the company’s stock.
• Brookfield Asset Management reported Q1 EPS of $0.43, topping estimates, and declared a quarterly dividend of $0.5025 per share payable June 30, for an annualized yield of about 4.2%.

Cooke & Bieler LP lifted its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 48.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,001,903 shares of the financial services provider's stock after acquiring an additional 655,009 shares during the period. Cooke & Bieler LP owned 0.12% of Brookfield Asset Management worth $104,880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Brookfield Asset Management by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 17,723,182 shares of the financial services provider's stock valued at $928,414,000 after purchasing an additional 297,790 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Brookfield Asset Management by 7.3% during the fourth quarter. Principal Financial Group Inc. now owns 7,863,457 shares of the financial services provider's stock worth $411,972,000 after buying an additional 533,639 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Brookfield Asset Management by 88,805.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,725,314 shares of the financial services provider's stock worth $247,559,000 after buying an additional 4,719,999 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Brookfield Asset Management by 72.6% in the third 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 during the last quarter. Finally, State Street Corp lifted its stake in shares of Brookfield Asset Management by 11,172.2% in the second quarter. State Street Corp now owns 3,524,700 shares of the financial services provider's stock worth $194,845,000 after buying an additional 3,493,431 shares in the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on BAM. Scotiabank restated an "outperform" rating and set a $57.00 price target (up from $56.00) on shares of Brookfield Asset Management in a research report on Monday, May 11th. BMO Capital Markets raised shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 5th. Wall Street Zen cut Brookfield Asset Management from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. JPMorgan Chase & Co. cut their price target on Brookfield Asset Management from $72.00 to $60.00 and set a "neutral" rating for the company in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada reduced their price objective on Brookfield Asset Management from $74.00 to $65.00 and set an "outperform" rating on the stock in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $60.21.

Brookfield Asset Management Trading Up 0.1%

NYSE BAM opened at $47.96 on Tuesday. The firm's 50-day moving average is $46.36 and its two-hundred day moving average is $49.63. Brookfield Asset Management Ltd. has a 12 month low of $42.20 and a 12 month high of $64.10. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38. The stock has a market capitalization of $78.56 billion, a P/E ratio of 31.14, a PEG ratio of 1.95 and a beta of 1.28.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.02. The business 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 anticipate that Brookfield Asset Management Ltd. will post 1.74 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

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