Strategic Advisors LLC Buys New Position in Brookfield Asset Management Ltd. $BAM

Key Points

• Strategic Advisors LLC initiated a new position in Brookfield Asset Management in the fourth quarter, buying 42,240 shares valued at about $2.21 million.
• Institutional ownership remains high, with hedge funds and other investors holding 68.41% of the company’s stock; several major holders, including Vanguard, also added to their positions.
• Brookfield Asset Management reported Q1 EPS of $0.43, topping estimates, and announced a quarterly dividend of $0.5025 per share, equal to a 4.2% annualized yield.

Strategic Advisors LLC bought a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 42,240 shares of the financial services provider's stock, valued at approximately $2,213,000.

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

Wall Street Analyst Weigh In

BAM has been the subject of several research analyst reports. Canadian Imperial Bank of Commerce set a $62.50 price target on Brookfield Asset Management in a research note on Monday, May 11th. Royal Bank Of Canada dropped their price target on Brookfield Asset Management from $74.00 to $65.00 and set an "outperform" rating for the company in a research note on Monday, May 11th. BMO Capital Markets upgraded Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 5th. Piper Sandler reiterated a "neutral" rating and issued a $50.00 target price (up from $48.00) on shares of Brookfield Asset Management in a research note on Monday, May 18th. Finally, Weiss Ratings lowered Brookfield Asset Management from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $60.21.

Brookfield Asset Management Trading Down 0.9%

Shares of BAM opened at $48.17 on Tuesday. The company has a market capitalization of $78.91 billion, a P/E ratio of 31.28, a P/E/G ratio of 1.95 and a beta of 1.28. Brookfield Asset Management Ltd. has a one year low of $42.20 and a one year high of $64.10. 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 stock has a 50-day moving average price of $46.88 and a 200 day moving average price of $49.46.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, beating 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 $1.32 billion during the quarter, compared to the consensus estimate of $1.43 billion. Sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.75 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.2%. Brookfield Asset Management's payout ratio is presently 130.52%.

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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