Burgundy Asset Management Ltd. Increases Stake in Brookfield Asset Management Ltd. $BAM

Key Points

• Burgundy Asset Management Ltd. has increased its stake in Brookfield Asset Management Ltd. by 45.9%, owning 47,474 shares valued at approximately $2.3 million as of the latest quarter.
• Brookfield Asset Management's stock price ranges between a 12-month low of $39.19 and a 12-month high of $64.10, with a current P/E ratio of 41.21.
• The company announced a quarterly dividend of $0.4375 per share, reflecting a 2.9% yield and a payout ratio of 117.45%.

Burgundy Asset Management Ltd. boosted its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 45.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 47,474 shares of the financial services provider's stock after purchasing an additional 14,938 shares during the quarter. Burgundy Asset Management Ltd.'s holdings in Brookfield Asset Management were worth $2,300,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Cerity Partners LLC lifted its holdings in shares of Brookfield Asset Management by 36.6% during the 1st quarter. Cerity Partners LLC now owns 29,482 shares of the financial services provider's stock valued at $1,428,000 after buying an additional 7,901 shares during the period. Teacher Retirement System of Texas raised its position in shares of Brookfield Asset Management by 9.9% during the 1st quarter. Teacher Retirement System of Texas now owns 68,700 shares of the financial services provider's stock valued at $3,329,000 after purchasing an additional 6,200 shares during the period. Capital A Wealth Management LLC bought a new stake in Brookfield Asset Management during the fourth quarter valued at about $412,000. Vanguard Group Inc. raised its stake in Brookfield Asset Management by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider's stock valued at $832,833,000 after purchasing an additional 302,852 shares during the period. Finally, BNP Paribas Financial Markets purchased a new position in shares of Brookfield Asset Management in the fourth quarter valued at $183,000. Institutional investors own 68.41% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Royal Bank Of Canada started coverage on shares of Brookfield Asset Management in a research note on Wednesday, June 18th. They issued an "outperform" rating and a $72.00 price objective for the company. National Bank Financial assumed coverage on shares of Brookfield Asset Management in a report on Tuesday, July 29th. They set an "outperform" rating and a $71.00 price target on the stock. BMO Capital Markets boosted their target price on shares of Brookfield Asset Management from $53.00 to $56.00 and gave the company a "market perform" rating in a research note on Thursday, August 7th. Scotiabank increased their price objective on Brookfield Asset Management from $66.00 to $67.25 and gave the stock a "sector outperform" rating in a research note on Thursday, August 7th. Finally, National Bankshares set a $71.00 price target on shares of Brookfield Asset Management and gave the company an "outperform" rating in a report on Tuesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $63.33.

Brookfield Asset Management Price Performance

NYSE BAM traded up $1.8120 on Friday, hitting $60.8220. The company had a trading volume of 394,972 shares, compared to its average volume of 2,060,036. The company's fifty day moving average price is $58.66 and its 200-day moving average price is $55.16. Brookfield Asset Management Ltd. has a 12-month low of $39.19 and a 12-month high of $64.10. The company has a market capitalization of $99.61 billion, a PE ratio of 40.83, a PEG ratio of 2.17 and a beta of 1.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.25.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its earnings results on Wednesday, August 6th. The financial services provider reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). The business had revenue of $1,107,960 billion during the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. As a group, analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, August 29th. Brookfield Asset Management's payout ratio is presently 117.45%.

Brookfield Asset Management Company 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.