Montrusco Bolton Investments Inc. Increases Position in Brookfield Asset Management Ltd. $BAM

Montrusco Bolton Investments Inc. grew its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 7.3% during the first quarter, Holdings Channel reports. The firm owned 345,381 shares of the financial services provider’s stock after acquiring an additional 23,484 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in Brookfield Asset Management were worth $15,307,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. increased its stake 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 purchasing an additional 1,642,375 shares during the period. Korea Investment CORP grew its position in shares of Brookfield Asset Management by 21.3% during the third quarter. Korea Investment CORP now owns 284,049 shares of the financial services provider’s stock worth $16,168,000 after buying an additional 49,917 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Brookfield Asset Management by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 17,723,182 shares of the financial services provider’s stock worth $928,414,000 after buying an additional 297,790 shares during the period. Cooke & Bieler LP raised its holdings in Brookfield Asset Management by 48.6% in the fourth quarter. Cooke & Bieler LP now owns 2,001,903 shares of the financial services provider’s stock valued at $104,880,000 after acquiring an additional 655,009 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new stake in Brookfield Asset Management in the third quarter valued at approximately $23,197,000. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Up 0.0%

BAM stock opened at $45.88 on Friday. 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 twelve month low of $42.20 and a twelve month high of $64.10. The company’s 50 day moving average is $47.32 and its two-hundred day moving average is $48.48. The stock has a market cap of $75.17 billion, a P/E ratio of 29.80, a PEG ratio of 1.85 and a beta of 1.29.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Research analysts expect that Brookfield Asset Management Ltd. will post 1.74 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th were given a dividend of $0.5025 per share. This represents a $2.01 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Friday, May 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 130.52%.

Analysts Set New Price Targets

Several research firms have commented on BAM. Morgan Stanley lowered their price target on shares of Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating for the company in a report on Tuesday, April 21st. Piper Sandler reaffirmed a “neutral” rating and set a $50.00 price objective (up from $48.00) on shares of Brookfield Asset Management in a research report on Monday, May 18th. Royal Bank Of Canada lowered their target price on shares of 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. Zacks Research lowered Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a report on Friday, March 20th. Finally, Weiss Ratings cut Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 15th. One 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 assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $60.21.

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.