Cumberland Partners Ltd Invests $5.56 Million in Brookfield Asset Management Ltd. (NYSE:BAM)

Key Points

• Cumberland Partners Ltd has invested approximately $5.56 million in Brookfield Asset Management by acquiring 114,845 shares in the first quarter.
• Analysts have raised their price targets for Brookfield Asset Management, with TD Securities increasing theirs from $66.00 to $75.00 and National Bank Financial issuing an "outperform" rating with a $71.00 target.
• Brookfield Asset Management reported a net margin of 55.26% for the quarter, with earnings of $0.40 per share, in line with analysts' expectations.

Cumberland Partners Ltd acquired a new position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 114,845 shares of the financial services provider's stock, valued at approximately $5,559,000.

A number of other institutional investors have also recently added to or reduced their stakes in BAM. Marshall Wace LLP acquired a new position in Brookfield Asset Management in the 4th quarter worth $43,321,000. FIL Ltd lifted its holdings in Brookfield Asset Management by 3.9% in the 4th quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider's stock worth $833,581,000 after buying an additional 574,978 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Brookfield Asset Management by 31.3% in the 4th quarter. Geode Capital Management LLC now owns 2,116,337 shares of the financial services provider's stock worth $117,171,000 after buying an additional 504,478 shares in the last quarter. FMR LLC lifted its holdings in Brookfield Asset Management by 2.3% in the 4th quarter. FMR LLC now owns 19,646,285 shares of the financial services provider's stock worth $1,064,983,000 after buying an additional 447,642 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Brookfield Asset Management in the 4th quarter valued at about $18,785,000. Institutional investors and hedge funds own 68.41% of the company's stock.

Brookfield Asset Management Trading Up 0.4%

NYSE:BAM traded up $0.24 during trading hours on Tuesday, hitting $61.57. The stock had a trading volume of 2,111,861 shares, compared to its average volume of 2,105,334. Brookfield Asset Management Ltd. has a one year low of $38.18 and a one year high of $63.53. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.31 and a current ratio of 1.31. The company has a market cap of $100.83 billion, a price-to-earnings ratio of 43.67, a P/E/G ratio of 2.30 and a beta of 1.44. The business's 50 day moving average is $57.37 and its 200-day moving average is $54.89.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.29 billion. Sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BAM has been the topic of a number of recent analyst reports. Morgan Stanley upped their target price on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the company an "equal weight" rating in a research note on Friday, May 16th. Piper Sandler initiated coverage on shares of Brookfield Asset Management in a research note on Monday, June 30th. They issued a "neutral" rating and a $60.00 target price on the stock. National Bank Financial started coverage on shares of Brookfield Asset Management in a research note on Tuesday, July 29th. They issued an "outperform" rating and a $71.00 target price on the stock. Scotiabank reiterated an "outperform" rating and set a $66.00 price objective (down previously from $69.00) on shares of Brookfield Asset Management in a research note on Wednesday, July 30th. Finally, National Bankshares set a $71.00 price objective on shares of Brookfield Asset Management and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Brookfield Asset Management has an average rating of "Moderate Buy" and an average price target of $62.06.

About Brookfield Asset Management

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.