Vanguard Group Inc. Acquires 297,790 Shares of Brookfield Asset Management Ltd. $BAM

Key Points

• Vanguard boosted its stake in Brookfield Asset Management by 1.7% in Q4, buying 297,790 shares to hold 17,723,182 shares (~1.08% of the company) valued at about $928.4 million.
• Brookfield beat quarterly EPS expectations ($0.47 vs. $0.41) and has a market capitalization of $78.65 billion, but analysts’ consensus rating remains a "Hold" with a $61.76 price target.
• The company raised its quarterly dividend to $0.5025 (annualized $2.01), yielding roughly 4.2%, although the dividend payout ratio is high at 132.24%.

Vanguard Group Inc. boosted its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,723,182 shares of the financial services provider's stock after purchasing an additional 297,790 shares during the quarter. Vanguard Group Inc. owned about 1.08% of Brookfield Asset Management worth $928,414,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BAM. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Brookfield Asset Management by 72.6% during 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 purchasing an additional 1,642,375 shares during the last quarter. Cumberland Partners Ltd boosted its stake in Brookfield Asset Management by 78.0% during the 3rd quarter. Cumberland Partners Ltd now owns 126,015 shares of the financial services provider's stock valued at $7,168,000 after purchasing an additional 55,225 shares during the last quarter. Hillsdale Investment Management Inc. boosted its stake in Brookfield Asset Management by 65.6% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 254,212 shares of the financial services provider's stock valued at $14,463,000 after purchasing an additional 100,713 shares during the last quarter. New York State Common Retirement Fund boosted its stake in Brookfield Asset Management by 18.5% during the 3rd quarter. New York State Common Retirement Fund now owns 465,600 shares of the financial services provider's stock valued at $26,511,000 after purchasing an additional 72,600 shares during the last quarter. Finally, Intact Investment Management Inc. boosted its stake in Brookfield Asset Management by 127.5% during the 3rd quarter. Intact Investment Management Inc. now owns 590,560 shares of the financial services provider's stock valued at $33,612,000 after purchasing an additional 330,970 shares during the last quarter. Institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Price Performance

Shares of BAM stock opened at $48.01 on Friday. The stock's fifty day moving average is $45.92 and its 200-day moving average is $50.30. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $78.65 billion, a PE ratio of 31.59, a PEG ratio of 1.97 and a beta of 1.28. Brookfield Asset Management Ltd. has a 52 week low of $42.20 and a 52 week high of $64.10.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.06. Brookfield Asset Management had a return on equity of 29.81% and a net margin of 51.59%.The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.40 billion. Equities research analysts expect that Brookfield Asset Management Ltd. will post 1.74 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th were given a dividend of $0.5025 per share. The ex-dividend date was Friday, February 27th. This is a positive change from Brookfield Asset Management's previous quarterly dividend of $0.44. This represents a $2.01 dividend on an annualized basis and a yield of 4.2%. Brookfield Asset Management's dividend payout ratio (DPR) is 132.24%.

Wall Street Analysts Forecast Growth

BAM has been the subject of a number of research analyst reports. Piper Sandler cut their target price on shares of Brookfield Asset Management from $53.00 to $48.00 and set a "neutral" rating for the company in a research report on Tuesday, April 7th. Zacks Research downgraded shares of Brookfield Asset Management from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 20th. UBS Group set a $52.00 target price on shares of Brookfield Asset Management in a research report on Friday, February 20th. Loop Capital set a $60.00 price target on shares of Brookfield Asset Management in a research note on Tuesday, January 6th. Finally, Weiss Ratings upgraded shares of Brookfield Asset Management from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Brookfield Asset Management currently has a consensus rating of "Hold" and a consensus price target of $61.76.

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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