Entropy Technologies LP Makes New $1.93 Million Investment in Brookfield Asset Management Ltd. $BAM

Entropy Technologies LP acquired a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 34,814 shares of the financial services provider’s stock, valued at approximately $1,925,000.

A number of other hedge funds have also recently made changes to their positions in BAM. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Brookfield Asset Management by 975.9% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,765,220 shares of the financial services provider’s stock valued at $85,463,000 after purchasing an additional 1,601,155 shares during the period. Geode Capital Management LLC grew its holdings in Brookfield Asset Management by 62.4% during the 2nd quarter. Geode Capital Management LLC now owns 3,755,340 shares of the financial services provider’s stock valued at $208,571,000 after buying an additional 1,443,441 shares in the last quarter. Millennium Management LLC raised its position in shares of Brookfield Asset Management by 461.5% during the first quarter. Millennium Management LLC now owns 1,722,683 shares of the financial services provider’s stock valued at $83,464,000 after buying an additional 1,415,866 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Brookfield Asset Management by 58.9% in the first quarter. The Manufacturers Life Insurance Company now owns 3,360,125 shares of the financial services provider’s stock worth $163,354,000 after buying an additional 1,246,011 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Brookfield Asset Management by 107.4% in the first quarter. Goldman Sachs Group Inc. now owns 2,363,192 shares of the financial services provider’s stock worth $114,497,000 after buying an additional 1,224,012 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

Shares of Brookfield Asset Management stock opened at $50.46 on Friday. The stock has a 50 day moving average price of $55.44 and a 200-day moving average price of $57.23. Brookfield Asset Management Ltd. has a one year low of $41.78 and a one year high of $64.10. The stock has a market cap of $82.64 billion, a price-to-earnings ratio of 33.86, a price-to-earnings-growth ratio of 2.04 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.25 and a current ratio of 1.25.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Friday, November 7th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%.The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.34 billion. Equities analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be given a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Asset Management’s dividend payout ratio is 109.38%.

Analyst Ratings Changes

BAM has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $58.00 target price on shares of Brookfield Asset Management in a research note on Thursday, August 7th. Royal Bank Of Canada lifted their target price on Brookfield Asset Management from $74.00 to $76.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Morgan Stanley set a $62.00 target price on Brookfield Asset Management in a research report on Monday, October 13th. CIBC raised their price target on Brookfield Asset Management from $70.00 to $71.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Finally, National Bankshares reduced their price objective on Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating on the stock in a research note on Monday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Brookfield Asset Management has an average rating of “Moderate Buy” and an average target price of $64.32.

Brookfield Asset Management Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.