TD Asset Management Inc Buys 315,036 Shares of Brookfield Asset Management Ltd. $BAM

Key Points

• TD Asset Management increased its stake in Brookfield Asset Management by 2.0% in the fourth quarter, buying 315,036 additional shares and bringing its total holding to 15.77 million shares valued at about $827.1 million.
• Institutional ownership remains heavy, with hedge funds and asset managers making other notable purchases; overall, 68.41% of Brookfield’s stock is owned by institutions.
• Brookfield Asset Management reported Q1 EPS of $0.43, topping expectations, and it announced a quarterly dividend of $0.5025 per share, equal to a 4.4% annualized yield.

TD Asset Management Inc grew its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,769,066 shares of the financial services provider's stock after acquiring an additional 315,036 shares during the quarter. TD Asset Management Inc owned about 0.96% of Brookfield Asset Management worth $827,135,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of 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 valued at $222,161,000 after acquiring an additional 1,642,375 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Brookfield Asset Management by 1.5% during 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 increased its holdings in shares of Brookfield Asset Management by 78.0% during 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. increased its holdings in shares of Brookfield Asset Management by 65.6% during 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 increased its holdings in shares of Brookfield Asset Management by 21.7% during 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. 68.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BAM has been the subject of several research analyst reports. UBS Group set a $52.00 price objective on Brookfield Asset Management in a report on Friday, February 20th. 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. The Goldman Sachs Group reduced their price objective on Brookfield Asset Management from $60.00 to $49.00 and set a "buy" rating for the company in a report on Tuesday, April 7th. JPMorgan Chase & Co. reduced their price objective on Brookfield Asset Management from $72.00 to $60.00 and set a "neutral" rating for the company in a report on Wednesday, May 6th. Finally, Weiss Ratings downgraded Brookfield Asset Management from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Brookfield Asset Management has a consensus rating of "Hold" and a consensus price target of $60.21.

Brookfield Asset Management Trading Down 5.3%

Brookfield Asset Management stock opened at $45.22 on Thursday. The business has a 50-day simple moving average of $47.01 and a two-hundred day simple moving average of $49.37. The company has a market cap of $74.08 billion, a P/E ratio of 29.37, a P/E/G ratio of 1.92 and a beta of 1.26. Brookfield Asset Management Ltd. has a 52-week low of $42.20 and a 52-week high of $64.10. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.34.

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, beating analysts' consensus estimates of $0.41 by $0.02. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.43 billion. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%. Analysts predict that Brookfield Asset Management Ltd. will post 1.75 EPS 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. Shareholders 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 dividend yield of 4.4%. The ex-dividend date is Friday, May 29th. Brookfield Asset Management's payout ratio is currently 130.52%.

Brookfield Asset Management Company 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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