Liontrust Investment Partners LLP Purchases Shares of 251,090 Brookfield Asset Management Ltd. $BAM

Key Points

• Liontrust Investment Partners acquired 251,090 Brookfield Asset Management shares in the first quarter, worth approximately $11.16 million. Hedge funds and other institutional investors collectively own 68.41% of the company.
• Brookfield reported quarterly earnings of $0.43 per share, exceeding analyst expectations of $0.41, on revenue of $1.43 billion. Shares recently traded at $47.97, up 1.3%.
• The company declared a quarterly dividend of $0.5025 per share, equivalent to an annualized $2.01 payout and a 4.2% yield. Analysts maintain a consensus “Hold” rating with an average price target of $59.03.

Liontrust Investment Partners LLP 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 disclosure with the Securities and Exchange Commission. The fund acquired 251,090 shares of the financial services provider's stock, valued at approximately $11,161,000.

Other hedge funds have also modified their holdings of the company. Zions Bancorporation National Association UT boosted its position in shares of Brookfield Asset Management by 241.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 345 shares during the last quarter. LOM Asset Management Ltd bought a new stake in Brookfield Asset Management in the fourth quarter worth $31,000. eCIO Inc. bought a new stake in Brookfield Asset Management in the fourth quarter worth $42,000. Allworth Financial LP raised its stake in Brookfield Asset Management by 47.8% during the fourth quarter. Allworth Financial LP now owns 1,029 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 333 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in Brookfield Asset Management by 709.8% during the fourth quarter. Fifth Third Bancorp now owns 1,069 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 937 shares in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Up 1.3%

Shares of BAM opened at $47.97 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.34. The business has a fifty day moving average of $46.97 and a 200 day moving average of $47.65. The company has a market cap of $78.59 billion, a PE ratio of 31.15, a P/E/G ratio of 1.93 and a beta of 1.29. Brookfield Asset Management Ltd. has a 52-week low of $42.20 and a 52-week high of $64.10.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. The business had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.43 billion. On average, sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.76 EPS for the current year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were issued a dividend of $0.5025 per share. This represents a $2.01 annualized dividend and a yield of 4.2%. The ex-dividend date was Friday, May 29th. Brookfield Asset Management's dividend payout ratio is presently 130.52%.

Analysts Set New Price Targets

A number of brokerages have commented on BAM. Scotiabank reissued an "outperform" rating and issued a $57.00 price objective (up from $56.00) on shares of Brookfield Asset Management in a research note on Monday, May 11th. Weiss Ratings cut shares of Brookfield Asset Management from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, May 15th. The Goldman Sachs Group lowered their price target on shares of Brookfield Asset Management from $60.00 to $49.00 and set a "buy" rating for the company in a report on Tuesday, April 7th. Canadian Imperial Bank of Commerce set a $62.50 price target on Brookfield Asset Management in a research report on Monday, May 11th. Finally, Wall Street Zen cut Brookfield Asset Management from a "hold" rating to a "sell" rating in a research note on Saturday, July 4th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $59.03.

Brookfield Asset Management Company Profile

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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