132,900 Shares in Brookfield Asset Management Ltd. (NYSE:BAM) Bought by Intact Investment Management Inc.

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

A number of other institutional investors have also recently made changes to their positions in BAM. ST Germain D J Co. Inc. purchased a new position in Brookfield Asset Management during the 1st quarter valued at approximately $26,000. Truvestments Capital LLC increased its position in Brookfield Asset Management by 487.2% in the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider's stock worth $27,000 after purchasing an additional 419 shares during the last quarter. Mountain Hill Investment Partners Corp. purchased a new stake in Brookfield Asset Management during the fourth quarter valued at $32,000. NewEdge Advisors LLC grew its stake in shares of Brookfield Asset Management by 61.0% in the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock worth $47,000 after buying an additional 325 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Brookfield Asset Management in the 4th quarter worth about $54,000. Hedge funds and other institutional investors own 68.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BAM shares. JPMorgan Chase & Co. increased their price target 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. Wells Fargo & Company lifted their price target on shares of Brookfield Asset Management from $54.00 to $55.00 and gave the stock an "underweight" rating in a research note on Friday, May 23rd. Bank of America raised shares of Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 price objective on the stock in a research report on Thursday, April 10th. Morgan Stanley boosted their target price on Brookfield Asset Management from $50.00 to $54.00 and gave the company an "equal weight" rating in a research report on Friday, May 16th. Finally, Royal Bank Of Canada started coverage on Brookfield Asset Management in a report on Wednesday, June 18th. They issued an "outperform" rating and a $72.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Brookfield Asset Management currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.46.

Brookfield Asset Management Stock Down 2.3%

Shares of BAM stock traded down $1.28 on Wednesday, hitting $54.40. The stock had a trading volume of 2,341,521 shares, compared to its average volume of 1,471,165. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.07. Brookfield Asset Management Ltd. has a one year low of $37.40 and a one year high of $62.61. The business has a 50 day moving average price of $55.06 and a 200 day moving average price of $54.22. The company has a market cap of $89.08 billion, a PE ratio of 38.58, a P/E/G ratio of 2.02 and a beta of 1.51.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (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 company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.29 billion. Research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

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

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.