EdgePoint Investment Group Inc. Has $7.71 Million Stake in Brookfield Asset Management Ltd. $BAM

Key Points

• EdgePoint Investment Group Inc. increased its stake in Brookfield Asset Management Ltd. by 9.5% during the first quarter, bringing its total holdings to 159,255 shares valued at approximately $7.71 million.
• Brookfield Asset Management recently reported quarterly earnings of $0.38 EPS, which was below analysts' expectations, with total revenue of $1.11 billion against a forecast of $1.29 billion.
• The company declared a quarterly dividend of $0.4375 per share, resulting in an annualized dividend of $1.75 and a yield of 3.0%, with a dividend payout ratio of 117.45%.

EdgePoint Investment Group Inc. grew its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 9.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 159,255 shares of the financial services provider's stock after acquiring an additional 13,796 shares during the period. EdgePoint Investment Group Inc.'s holdings in Brookfield Asset Management were worth $7,710,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of BAM. Barclays PLC raised its stake in shares of Brookfield Asset Management by 274.0% during the fourth quarter. Barclays PLC now owns 7,492 shares of the financial services provider's stock worth $406,000 after buying an additional 5,489 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Brookfield Asset Management by 6.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,910 shares of the financial services provider's stock worth $754,000 after buying an additional 882 shares during the last quarter. Northern Trust Corp raised its stake in shares of Brookfield Asset Management by 63.0% during the fourth quarter. Northern Trust Corp now owns 426,594 shares of the financial services provider's stock worth $23,117,000 after buying an additional 164,809 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Brookfield Asset Management by 139.2% during the fourth quarter. Ameriprise Financial Inc. now owns 406,376 shares of the financial services provider's stock worth $22,237,000 after buying an additional 236,495 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in shares of Brookfield Asset Management during the fourth quarter worth approximately $183,000. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Stock Down 2.4%

Shares of NYSE:BAM traded down $1.38 during midday trading on Monday, reaching $56.90. 3,840,146 shares of the company were exchanged, compared to its average volume of 2,088,249. Brookfield Asset Management Ltd. has a fifty-two week low of $41.20 and a fifty-two week high of $64.10. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. The stock has a fifty day simple moving average of $59.79 and a two-hundred day simple moving average of $55.23. The firm has a market cap of $93.18 billion, a PE ratio of 38.18, a P/E/G ratio of 2.13 and a beta of 1.44.

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 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%.The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.29 billion. As a group, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, August 29th. Brookfield Asset Management's dividend payout ratio (DPR) is presently 117.45%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BAM shares. Bank of America downgraded shares of Brookfield Asset Management from a "buy" rating to a "neutral" rating and set a $68.00 price target for the company. in a research note on Thursday. Royal Bank Of Canada began coverage on shares of Brookfield Asset Management in a research note on Wednesday, June 18th. They set an "outperform" rating and a $72.00 price target for the company. Jefferies Financial Group upped their target price on shares of Brookfield Asset Management from $55.00 to $62.00 and gave the company a "hold" rating in a research note on Wednesday, August 13th. National Bankshares set a $71.00 target price on shares of Brookfield Asset Management and gave the company an "outperform" rating in a research note on Tuesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $58.00 target price on shares of Brookfield Asset Management in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $63.52.

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.