Cibc World Market Inc. Has $225.96 Million Stock Holdings in Brookfield Asset Management Ltd. $BAM

Key Points

• CIBC World Market Inc. increased its stake in Brookfield Asset Management by 33.9% in the fourth quarter, bringing its holdings to 4.31 million shares worth about $225.96 million.
• Brookfield Asset Management reported quarterly earnings of $0.43 per share, topping analyst estimates, though revenue of $1.32 billion came in below expectations.
• The company declared a quarterly dividend of $0.5025 per share, equal to an annualized yield of about 4.4%, while analysts currently rate the stock a Hold with a consensus price target of $60.21.

Cibc World Market Inc. boosted its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 33.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,312,939 shares of the financial services provider's stock after purchasing an additional 1,092,851 shares during the quarter. Cibc World Market Inc. owned about 0.26% of Brookfield Asset Management worth $225,955,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Brookfield Asset Management by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 17,723,182 shares of the financial services provider's stock worth $928,414,000 after purchasing an additional 297,790 shares during the period. Principal Financial Group Inc. grew its holdings in Brookfield Asset Management by 7.3% in 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 purchasing an additional 533,639 shares during the period. Norges Bank acquired a new stake in Brookfield Asset Management in the fourth quarter worth $263,444,000. CIBC Asset Management Inc grew its holdings in Brookfield Asset Management by 99.1% in the fourth quarter. CIBC Asset Management Inc now owns 4,853,861 shares of the financial services provider's stock worth $255,449,000 after purchasing an additional 2,415,593 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Brookfield Asset Management by 88,805.2% in 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 purchasing an additional 4,719,999 shares during the period. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Down 5.3%

BAM opened at $45.22 on Thursday. 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 company's 50-day moving average is $47.01 and its 200 day moving average is $49.37. Brookfield Asset Management Ltd. has a fifty-two week low of $42.20 and a fifty-two week high of $64.10. The firm has a market capitalization of $74.08 billion, a P/E ratio of 29.37, a PEG ratio of 1.92 and a beta of 1.26.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released 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. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.43 billion. Research analysts expect that Brookfield Asset Management Ltd. will post 1.75 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be given a dividend of $0.5025 per share. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, May 29th. Brookfield Asset Management's dividend payout ratio (DPR) is presently 130.52%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Scotiabank reaffirmed an "outperform" rating and issued a $57.00 price objective (up from $56.00) on shares of Brookfield Asset Management in a research note on Monday, May 11th. Weiss Ratings lowered shares of Brookfield Asset Management from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, May 15th. Canadian Imperial Bank of Commerce set a $62.50 price objective on shares of Brookfield Asset Management in a research note on Monday, May 11th. Royal Bank Of Canada dropped their price objective on shares of Brookfield Asset Management from $74.00 to $65.00 and set an "outperform" rating on the stock in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Brookfield Asset Management from $72.00 to $60.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $60.21.

About Brookfield Asset Management

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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