Intact Investment Management Inc. Purchases Shares of 132,900 Brookfield Asset Management Ltd. (NYSE:BAM)

Intact Investment Management Inc. purchased a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 132,900 shares of the financial services provider's stock, valued at approximately $6,434,000.

Several other hedge funds have also recently modified their holdings of BAM. Norges Bank acquired a new position in shares of Brookfield Asset Management during the 4th quarter worth about $287,361,000. William Blair Investment Management LLC acquired a new stake in Brookfield Asset Management in the 4th quarter valued at about $204,169,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Brookfield Asset Management by 103.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider's stock valued at $216,507,000 after acquiring an additional 2,031,995 shares during the last quarter. Madison Investment Advisors LLC acquired a new stake in Brookfield Asset Management in the 4th quarter valued at about $94,122,000. Finally, TD Asset Management Inc. raised its holdings in Brookfield Asset Management by 8.9% in the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider's stock valued at $903,323,000 after acquiring an additional 1,359,126 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company's stock.

Brookfield Asset Management Trading Down 0.5%

Shares of NYSE:BAM traded down $0.28 during mid-day trading on Friday, reaching $54.37. 1,526,475 shares of the company were exchanged, compared to its average volume of 1,460,438. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.31 and a quick ratio of 1.31. The firm has a market cap of $87.67 billion, a price-to-earnings ratio of 38.56, a P/E/G ratio of 1.97 and a beta of 1.51. The firm's 50-day simple moving average is $54.81 and its 200 day simple moving average is $54.23. Brookfield Asset Management Ltd. has a 1 year low of $37.40 and a 1 year high of $62.61.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share for the quarter, hitting analysts' consensus estimates of $0.40. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.29 billion. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. Equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be given a dividend of $0.4375 per share. The ex-dividend date is Friday, May 30th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.22%. Brookfield Asset Management's payout ratio is currently 124.11%.

Analyst Upgrades and Downgrades

BAM has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on shares of Brookfield Asset Management from $51.00 to $55.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Wall Street Zen upgraded shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a report on Tuesday, April 15th. Scotiabank increased their price objective on shares of Brookfield Asset Management from $58.00 to $59.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. TD Securities increased their price objective on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Finally, Jefferies Financial Group cut their price objective on shares of Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $59.46.

Brookfield Asset Management Company 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.