Principal Financial Group Inc. raised its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 7.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 7,863,457 shares of the financial services provider's stock after purchasing an additional 533,639 shares during the period. Principal Financial Group Inc. owned 0.48% of Brookfield Asset Management worth $411,972,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Brookfield Asset Management by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 17,723,182 shares of the financial services provider's stock worth $928,414,000 after purchasing an additional 297,790 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake 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 acquiring an additional 1,642,375 shares in the last quarter. State Street Corp increased its stake in shares of Brookfield Asset Management by 11,172.2% in the 2nd quarter. State Street Corp now owns 3,524,700 shares of the financial services provider's stock valued at $194,845,000 after acquiring an additional 3,493,431 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Brookfield Asset Management by 6.9% in the 3rd quarter. Bank of America Corp DE now owns 3,173,231 shares of the financial services provider's stock valued at $180,684,000 after acquiring an additional 204,575 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in shares of Brookfield Asset Management by 1.9% in the 3rd quarter. CIBC Asset Management Inc now owns 2,438,268 shares of the financial services provider's stock valued at $139,644,000 after acquiring an additional 44,478 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a research note on Saturday, January 10th. Morgan Stanley lowered their price objective 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. The Goldman Sachs Group lowered their price objective on shares of Brookfield Asset Management from $60.00 to $49.00 and set a "buy" rating for the company in a research note on Tuesday, April 7th. Zacks Research lowered shares of Brookfield Asset Management from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 20th. Finally, Scotiabank lowered their price objective on shares of Brookfield Asset Management from $64.00 to $56.00 and set an "outperform" rating for the company in a research note on Wednesday, March 25th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $61.76.
Check Out Our Latest Stock Report on Brookfield Asset Management
Brookfield Asset Management Price Performance
BAM opened at $47.63 on Tuesday. The firm has a market cap of $78.02 billion, a P/E ratio of 31.33, a PEG ratio of 1.97 and a beta of 1.28. The firm has a 50-day moving average of $45.92 and a 200 day moving average of $50.26. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.92 and a current ratio of 0.92. Brookfield Asset Management Ltd. has a fifty-two week low of $42.20 and a fifty-two week high of $64.10.
Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.06. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.40 billion. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.81%. On average, research analysts expect that Brookfield Asset Management Ltd. will post 1.74 EPS for the current year.
Brookfield Asset Management Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th were issued a dividend of $0.5025 per share. This represents a $2.01 annualized dividend and a yield of 4.2%. This is a boost from Brookfield Asset Management's previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Friday, February 27th. Brookfield Asset Management's payout ratio is currently 132.24%.
Brookfield Asset Management Company Profile
(
Free Report)
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.
Further Reading
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