Cardinal Point Capital Management ULC Invests $481,000 in Brookfield Asset Management Ltd. $BAM

Key Points

• Cardinal Point Capital Management ULC has made a new investment of $481,000 in Brookfield Asset Management, acquiring 8,702 shares of the company in the second quarter.
• A number of institutional investors have also increased their stakes in Brookfield, with hedge funds owning 68.41% of the company's stock.
• Brookfield Asset Management recently announced a quarterly dividend of $0.4375 per share, yielding 3.2%, although its dividend payout ratio stands at 117.45%.

Cardinal Point Capital Management ULC purchased a new position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 8,702 shares of the financial services provider's stock, valued at approximately $481,000.

Several other large investors have also recently modified their holdings of BAM. Lincoln Capital LLC grew its stake in shares of Brookfield Asset Management by 0.9% during the 1st quarter. Lincoln Capital LLC now owns 23,151 shares of the financial services provider's stock valued at $1,145,000 after purchasing an additional 210 shares during the period. Kirr Marbach & Co. LLC IN grew its stake in shares of Brookfield Asset Management by 0.7% during the 2nd quarter. Kirr Marbach & Co. LLC IN now owns 35,649 shares of the financial services provider's stock valued at $1,971,000 after purchasing an additional 249 shares during the period. Private Trust Co. NA grew its stake in shares of Brookfield Asset Management by 22.5% during the 2nd quarter. Private Trust Co. NA now owns 1,532 shares of the financial services provider's stock valued at $85,000 after purchasing an additional 281 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Brookfield Asset Management by 17.4% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,015 shares of the financial services provider's stock valued at $98,000 after acquiring an additional 299 shares during the period. Finally, Advisors Asset Management Inc. grew its stake in shares of Brookfield Asset Management by 3.2% during the 1st quarter. Advisors Asset Management Inc. now owns 10,171 shares of the financial services provider's stock valued at $493,000 after acquiring an additional 314 shares during the period. Hedge funds and other institutional investors own 68.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BAM shares. National Bankshares set a $71.00 price objective on Brookfield Asset Management and gave the company an "outperform" rating in a research note on Tuesday, July 29th. Bank of America downgraded Brookfield Asset Management from a "buy" rating to a "neutral" rating and set a $68.00 price objective for the company. in a research note on Thursday, September 4th. Jefferies Financial Group boosted their price objective on Brookfield Asset Management from $55.00 to $62.00 and gave the company a "hold" rating in a research note on Wednesday, August 13th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $58.00 price objective on shares of Brookfield Asset Management in a research note on Thursday, August 7th. Finally, 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 objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Brookfield Asset Management currently has an average rating of "Moderate Buy" and an average target price of $64.27.

Brookfield Asset Management Trading Up 1.1%

Shares of BAM opened at $54.38 on Friday. 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 Ltd. has a 1 year low of $41.78 and a 1 year high of $64.10. The company has a 50 day simple moving average of $57.91 and a two-hundred day simple moving average of $56.79. The firm has a market cap of $89.05 billion, a P/E ratio of 36.49, a price-to-earnings-growth ratio of 2.01 and a beta of 1.39.

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

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, August 29th. Brookfield Asset Management's dividend payout ratio is 117.45%.

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.

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