Nicola Wealth Management LTD. Buys 35,200 Shares of Brookfield Asset Management Ltd. $BAM

Key Points

• Nicola Wealth Management increased its Brookfield Asset Management stake by 16.3% in the fourth quarter, buying 35,200 additional shares and bringing its total holding to 251,758 shares valued at about $13.19 million.
• Brookfield Asset Management reported quarterly earnings of $0.43 per share, beating analyst estimates of $0.41, though revenue of $1.32 billion came in below expectations.
• The company declared a quarterly dividend of $0.5025 per share, implying an annualized yield of 4.2%, while analysts currently have a consensus rating of Hold with an average price target of $60.21.

Nicola Wealth Management LTD. raised its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 16.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 251,758 shares of the financial services provider's stock after buying an additional 35,200 shares during the period. Nicola Wealth Management LTD.'s holdings in Brookfield Asset Management were worth $13,190,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BAM. LOM Asset Management Ltd bought a new stake in shares of Brookfield Asset Management in the 4th quarter valued at about $31,000. eCIO Inc. bought a new stake in shares of Brookfield Asset Management in the 4th quarter valued at about $42,000. Assetmark Inc. grew its position 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 valued at $46,000 after buying an additional 395 shares during the last quarter. Cary Street Partners Financial LLC grew its position 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 buying an additional 562 shares during the last quarter. Finally, Cullen Frost Bankers Inc. grew its position in shares of Brookfield Asset Management by 38.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 846 shares of the financial services provider's stock valued at $48,000 after buying an additional 233 shares during the last quarter. Institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Stock Up 0.1%

Shares of NYSE:BAM opened at $47.96 on Monday. The company has a market capitalization of $78.56 billion, a price-to-earnings ratio of 31.14, a P/E/G ratio of 1.95 and a beta of 1.28. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38. The business's 50-day moving average is $46.27 and its 200-day moving average is $49.67. Brookfield Asset Management Ltd. has a 1 year low of $42.20 and a 1 year high of $64.10.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.02. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%.The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.43 billion. Equities research analysts predict that Brookfield Asset Management Ltd. will post 1.74 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

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

Analyst Ratings Changes

BAM has been the topic of a number of recent analyst reports. The Goldman Sachs Group dropped their price objective on Brookfield Asset Management from $60.00 to $49.00 and set a "buy" rating on the stock in a research note on Tuesday, April 7th. Piper Sandler reissued a "neutral" rating and issued a $50.00 price objective (up from $48.00) on shares of Brookfield Asset Management in a research note on Monday, May 18th. Weiss Ratings downgraded Brookfield Asset Management from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, May 15th. Wall Street Zen downgraded Brookfield Asset Management from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $60.21.

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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