Brookfield Asset Management Ltd. $BAM Shares Purchased by Montrusco Bolton Investments Inc.

Key Points

• Montrusco Bolton Investments increased its stake in Brookfield Asset Management by 7.3% in the first quarter, bringing its holdings to 345,381 shares valued at about $15.3 million.
• Brookfield Asset Management reported quarterly EPS of $0.43, beating analyst expectations, while revenue came in line at $1.43 billion. The company also posted a strong return on equity of 30.66%.
• The company paid a quarterly dividend of $0.5025 per share, equal to an annualized yield of 4.4%. Analyst sentiment is mixed, with a consensus rating of Hold and an average price target of $60.21.

Montrusco Bolton Investments Inc. boosted its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 7.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 345,381 shares of the financial services provider's stock after acquiring an additional 23,484 shares during the period. Montrusco Bolton Investments Inc.'s holdings in Brookfield Asset Management were worth $15,307,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. AQR Capital Management LLC purchased a new stake in shares of Brookfield Asset Management in the first quarter valued at approximately $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Brookfield Asset Management by 10.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,050 shares of the financial services provider's stock worth $12,648,000 after buying an additional 24,013 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Brookfield Asset Management by 24.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,512 shares of the financial services provider's stock worth $139,000 after buying an additional 497 shares during the last quarter. Cerity Partners LLC boosted its stake in Brookfield Asset Management by 17.6% during the second quarter. Cerity Partners LLC now owns 34,666 shares of the financial services provider's stock worth $1,916,000 after buying an additional 5,184 shares during the last quarter. Finally, State Street Corp boosted its stake 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 buying an additional 3,493,431 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company's stock.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock opened at $45.88 on Friday. The firm has a market cap of $75.17 billion, a PE ratio of 29.80, a price-to-earnings-growth ratio of 1.85 and a beta of 1.29. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.34. Brookfield Asset Management Ltd. has a 52 week low of $42.20 and a 52 week high of $64.10. The business's fifty day simple moving average is $47.32 and its 200-day simple moving average is $48.48.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.02. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%. Equities analysts forecast 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 declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th were given a dividend of $0.5025 per share. The ex-dividend date was Friday, May 29th. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.4%. Brookfield Asset Management's dividend payout ratio (DPR) is currently 130.52%.

Analyst Ratings Changes

A number of analysts have issued reports on BAM shares. Weiss Ratings downgraded Brookfield Asset Management from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, May 15th. Scotiabank reissued an "outperform" rating and issued a $57.00 price objective (up from $56.00) on shares of Brookfield Asset Management in a report on Monday, May 11th. JPMorgan Chase & Co. dropped their price objective on shares of Brookfield Asset Management from $72.00 to $60.00 and set a "neutral" rating for the company in a report on Wednesday, May 6th. Royal Bank Of Canada cut their price objective on shares of Brookfield Asset Management from $74.00 to $65.00 and set an "outperform" rating for the company in a research report on Monday, May 11th. Finally, Morgan Stanley reduced their target price on shares of Brookfield Asset Management from $63.00 to $62.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 21st. One 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 given a Sell rating to the company. According to data from MarketBeat.com, Brookfield Asset Management currently has a consensus rating of "Hold" and an average target price of $60.21.

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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