Korea Investment CORP Purchases 49,917 Shares of Brookfield Asset Management Ltd. $BAM

Key Points

• Korea Investment CORP increased its stake in Brookfield Asset Management by 21.3%, purchasing 49,917 shares to hold 284,049 shares worth about $16.17 million, according to its latest SEC filing.
• Brookfield raised its quarterly dividend to $0.5025 (annualized $2.01), implying a 4.4% yield with an ex-dividend date of Feb. 27 and a payout ratio of 132.24%.
• Brookfield reported quarterly EPS of $0.47 versus $0.41 expected and revenue of $1.39 billion (slightly below estimates); the stock trades near $45.28 with a market cap around $74.2 billion and a consensus rating of "Moderate Buy" (average target $63.65).

Korea Investment CORP lifted its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 21.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 284,049 shares of the financial services provider's stock after buying an additional 49,917 shares during the period. Korea Investment CORP's holdings in Brookfield Asset Management were worth $16,168,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Manchester Capital Management LLC grew its position in Brookfield Asset Management by 559.5% during the second quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 442 shares during the last quarter. Sagard Holdings Management Inc. purchased a new position in shares of Brookfield Asset Management during the second quarter worth approximately $39,000. Assetmark Inc. lifted its holdings in shares of Brookfield Asset Management by 95.9% in the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider's stock worth $46,000 after acquiring an additional 395 shares during the last quarter. Cary Street Partners Financial LLC boosted its stake in shares of Brookfield Asset Management by 227.5% in the 3rd quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 562 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Brookfield Asset Management by 93.3% in the 3rd quarter. GAMMA Investing LLC now owns 831 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 401 shares in the last quarter. Institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Stock Down 1.5%

Shares of NYSE:BAM opened at $45.28 on Wednesday. Brookfield Asset Management Ltd. has a 1 year low of $41.78 and a 1 year high of $64.10. The company has a market cap of $74.17 billion, a PE ratio of 29.79, a P/E/G ratio of 1.62 and a beta of 1.42. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.92 and a quick ratio of 0.92. The stock's 50-day moving average is $50.72 and its 200 day moving average is $53.64.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.06. The business had revenue of $1.39 billion during the quarter, compared to analysts' expectations of $1.40 billion. Brookfield Asset Management had a return on equity of 29.81% and a net margin of 51.59%. Sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be paid a $0.5025 dividend. The ex-dividend date of this dividend is Friday, February 27th. This is a positive change from Brookfield Asset Management's previous quarterly dividend of $0.44. This represents a $2.01 dividend on an annualized basis and a yield of 4.4%. Brookfield Asset Management's payout ratio is 132.24%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BAM shares. Morgan Stanley set a $63.00 target price on shares of Brookfield Asset Management in a report on Tuesday, February 17th. JPMorgan Chase & Co. upped their price target on shares of Brookfield Asset Management from $68.00 to $72.00 and gave the company a "neutral" rating in a research report on Thursday, February 5th. Zacks Research raised Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 19th. Royal Bank Of Canada set a $74.00 price objective on Brookfield Asset Management and gave the stock an "outperform" rating in a report on Monday, December 15th. Finally, UBS Group set a $52.00 target price on Brookfield Asset Management in a research note on Friday, February 20th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $63.65.

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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