NewGen Asset Management Ltd Increases Position in Brookfield Asset Management Ltd. $BAM

Key Points

• NewGen Asset Management increased its Brookfield Asset Management stake by 33.3% in the fourth quarter, buying 25,000 additional shares to bring its total to 100,000 shares valued at about $5.24 million.
• Brookfield Asset Management’s stock was up 2.2% and opened at $48.15, with shares trading between a 52-week low of $42.20 and high of $64.10.
• The company recently reported Q1 EPS of $0.43, beating estimates, and declared a quarterly dividend of $0.5025 per share, equal to a 4.2% annualized yield.

NewGen Asset Management Ltd lifted its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 33.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,000 shares of the financial services provider's stock after buying an additional 25,000 shares during the period. Brookfield Asset Management makes up 3.2% of NewGen Asset Management Ltd's investment portfolio, making the stock its 11th largest holding. NewGen Asset Management Ltd's holdings in Brookfield Asset Management were worth $5,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Brookfield Asset Management by 72.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,904,677 shares of the financial services provider's stock valued at $222,161,000 after buying an additional 1,642,375 shares during the last quarter. Vanguard Group Inc. boosted its stake in Brookfield Asset Management by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 17,425,392 shares of the financial services provider's stock worth $991,677,000 after purchasing an additional 253,789 shares during the period. Cumberland Partners Ltd boosted its stake in Brookfield Asset Management by 78.0% during the 3rd quarter. Cumberland Partners Ltd now owns 126,015 shares of the financial services provider's stock worth $7,168,000 after purchasing an additional 55,225 shares during the period. Hillsdale Investment Management Inc. boosted its stake in Brookfield Asset Management by 65.6% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 254,212 shares of the financial services provider's stock worth $14,463,000 after purchasing an additional 100,713 shares during the period. Finally, Fiera Capital Corp boosted its stake in Brookfield Asset Management by 21.7% during the 3rd quarter. Fiera Capital Corp now owns 184,728 shares of the financial services provider's stock worth $10,509,000 after purchasing an additional 32,923 shares during the period. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Up 2.2%

BAM stock opened at $48.15 on Tuesday. Brookfield Asset Management Ltd. has a one year low of $42.20 and a one year high of $64.10. The stock has a market capitalization of $78.88 billion, a PE ratio of 31.27, a price-to-earnings-growth ratio of 1.89 and a beta of 1.26. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.38 and a current ratio of 1.38. The company has a fifty day moving average of $47.49 and a 200-day moving average of $49.15.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its earnings results on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, topping the consensus estimate 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 company had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.43 billion. As a group, analysts expect that Brookfield Asset Management Ltd. will post 1.75 EPS for the current year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be paid a $0.5025 dividend. The ex-dividend date is Friday, May 29th. This represents a $2.01 annualized dividend and a dividend yield of 4.2%. Brookfield Asset Management's dividend payout ratio (DPR) is 130.52%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BAM. JPMorgan Chase & Co. reduced their target price on shares of Brookfield Asset Management from $72.00 to $60.00 and set a "neutral" rating for the company in a research note on Wednesday, May 6th. Weiss Ratings cut shares of Brookfield Asset Management from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, May 15th. Wall Street Zen cut shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Morgan Stanley reduced their target price on shares of Brookfield Asset Management from $63.00 to $62.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 21st. Finally, Scotiabank restated an "outperform" rating and issued a $57.00 target price (up from $56.00) on shares of Brookfield Asset Management in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Brookfield Asset Management presently has an average rating of "Hold" and a consensus target price of $60.21.

Brookfield Asset Management 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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