Cardinal Capital Management Inc. Acquires New Stake in Brookfield Asset Management Ltd. $BAM

Key Points

• Cardinal Capital Management acquired 84,812 shares of Brookfield Asset Management in the second quarter, valued at approximately $3.8 million. Institutional investors collectively own 68.41% of the company.
• Brookfield shares rose 4.7% to $55.30, while the company reported quarterly EPS of $0.44, slightly exceeding analyst expectations, and revenue of $1.49 billion. It declared a quarterly dividend of $0.5025, representing a 3.6% annualized yield.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and an average price target of $59.50; recent targets range from $50 to $59.

Cardinal Capital Management Inc. acquired a new stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 84,812 shares of the financial services provider's stock, valued at approximately $3,797,000.

Other large investors also recently bought and sold shares of the company. Allied Private Wealth LLC purchased a new stake in shares of Brookfield Asset Management in the second quarter valued at about $40,000. Castle Rock Wealth Management LLC raised its holdings in Brookfield Asset Management by 5.3% during the second quarter. Castle Rock Wealth Management LLC now owns 26,427 shares of the financial services provider's stock worth $1,200,000 after purchasing an additional 1,334 shares in the last quarter. PensionDanmark Pensionsforsikringsaktieselskab raised its holdings in Brookfield Asset Management by 12.9% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 48,110 shares of the financial services provider's stock worth $2,157,000 after purchasing an additional 5,500 shares in the last quarter. Thrive Wealth Management LLC purchased a new position in Brookfield Asset Management during the second quarter worth about $269,000. Finally, GAMMA Investing LLC lifted its position in Brookfield Asset Management by 50.1% in the second quarter. GAMMA Investing LLC now owns 3,000 shares of the financial services provider's stock valued at $135,000 after purchasing an additional 1,001 shares during the period. Hedge funds and other institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Trading Up 4.7%

NYSE:BAM opened at $55.30 on Wednesday. Brookfield Asset Management Ltd. has a 52-week low of $42.20 and a 52-week high of $63.37. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.34. The stock has a fifty day simple moving average of $47.57 and a 200-day simple moving average of $47.64. The company has a market capitalization of $90.60 billion, a PE ratio of 32.15, a price-to-earnings-growth ratio of 2.19 and a beta of 1.26.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. The firm had revenue of $1.49 billion for the quarter, compared to analysts' expectations of $1.47 billion. Brookfield Asset Management had a net margin of 48.89% and a return on equity of 31.78%. On average, equities research analysts expect that Brookfield Asset Management Ltd. will post 1.76 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a $0.5025 dividend. The ex-dividend date is Monday, August 31st. This represents a $2.01 annualized dividend and a dividend yield of 3.6%. Brookfield Asset Management's dividend payout ratio is currently 116.86%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Piper Sandler reaffirmed a "neutral" rating and issued a $50.00 price objective (up from $48.00) on shares of Brookfield Asset Management in a report on Monday, May 18th. Wall Street Zen raised Brookfield Asset Management from a "sell" rating to a "hold" rating in a research note on Saturday. Morgan Stanley set a $56.00 price target on Brookfield Asset Management and gave the company an "equal weight" rating in a report on Tuesday, July 21st. Scotia lifted their price target on Brookfield Asset Management from $57.00 to $59.00 and gave the company a "sector outperform" rating in a research note on Thursday, August 6th. Finally, UBS Group upped their price objective on Brookfield Asset Management from $48.00 to $55.00 and gave the stock a "neutral" rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $59.50.

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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