Sei Investments Co. Acquires 75,814 Shares of Brookfield Asset Management Ltd. $BAM

Key Points

• Sei Investments increased its Brookfield Asset Management stake by 63.3% in the first quarter, purchasing 75,814 additional shares and bringing its holdings to 195,489 shares valued at approximately $8.69 million. Institutional investors own 68.41% of BAM’s stock.
• Analyst sentiment is mixed, with one Strong Buy, five Buy, nine Hold and one Sell rating. The stock has an average rating of Hold and a consensus price target of $59.03, compared with its reported price of $48.42.
• Brookfield Asset Management exceeded quarterly EPS expectations, reporting $0.43 versus the $0.41 consensus estimate, and maintains a quarterly dividend of $0.5025, equivalent to an annualized yield of about 4.2%.

Sei Investments Co. grew its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 63.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 195,489 shares of the financial services provider's stock after purchasing an additional 75,814 shares during the period. Sei Investments Co.'s holdings in Brookfield Asset Management were worth $8,689,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Zions Bancorporation National Association UT increased its position in 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 buying an additional 345 shares in the last quarter. LOM Asset Management Ltd bought a new position in shares of Brookfield Asset Management during the fourth quarter valued at $31,000. eCIO Inc. purchased a new position in shares of Brookfield Asset Management in the 4th quarter worth about $42,000. Allworth Financial LP boosted its stake in Brookfield Asset Management by 47.8% in the 4th quarter. Allworth Financial LP now owns 1,029 shares of the financial services provider's stock worth $54,000 after purchasing an additional 333 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in Brookfield Asset Management by 709.8% during the 4th 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 during the last quarter. 68.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BAM shares. Morgan Stanley set a $56.00 target price on Brookfield Asset Management and gave the stock an "equal weight" rating in a report on Tuesday, July 21st. Scotiabank reiterated an "outperform" rating and issued a $57.00 price objective (up from $56.00) on shares of Brookfield Asset Management in a report on Monday, May 11th. Piper Sandler reiterated a "neutral" rating and issued a $50.00 price objective (up from $48.00) on shares of Brookfield Asset Management in a report on Monday, May 18th. Weiss Ratings lowered Brookfield Asset Management from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, May 15th. Finally, Canadian Imperial Bank of Commerce set a $62.50 target price 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, five have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $59.03.

Brookfield Asset Management Price Performance

Shares of BAM opened at $48.42 on Monday. The firm has a fifty day simple moving average of $46.98 and a two-hundred day simple moving average of $47.60. The firm has a market cap of $79.33 billion, a PE ratio of 31.44, a P/E/G ratio of 1.97 and a beta of 1.26. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.34. 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 released its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share (EPS) 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 firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.43 billion. On average, equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.76 EPS for the current year.

Brookfield Asset Management Dividend Announcement

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

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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