Van Den Berg Management I Inc. Raises Stake in Brookfield Asset Management Ltd. $BAM

Van Den Berg Management I Inc. grew its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 49.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,080 shares of the financial services provider’s stock after acquiring an additional 13,949 shares during the quarter. Van Den Berg Management I Inc.’s holdings in Brookfield Asset Management were worth $1,870,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BAM. Vanguard Group Inc. grew its position in Brookfield Asset Management by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 17,723,182 shares of the financial services provider’s stock worth $928,414,000 after acquiring an additional 297,790 shares during the period. Cooke & Bieler LP raised its position 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 purchasing an additional 655,009 shares during the period. Principal Financial Group Inc. raised its position in Brookfield Asset Management by 7.3% in the fourth quarter. Principal Financial Group Inc. now owns 7,863,457 shares of the financial services provider’s stock valued at $411,972,000 after purchasing an additional 533,639 shares during the period. SG Americas Securities LLC lifted its stake in shares of Brookfield Asset Management by 147.1% in the 4th quarter. SG Americas Securities LLC now owns 119,494 shares of the financial services provider’s stock valued at $6,260,000 after purchasing an additional 71,129 shares during the last quarter. Finally, Nicola Wealth Management LTD. lifted its stake in shares of Brookfield Asset Management by 16.3% in the 4th quarter. Nicola Wealth Management LTD. now owns 251,758 shares of the financial services provider’s stock valued at $13,190,000 after purchasing an additional 35,200 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

BAM has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. Weiss Ratings cut shares of Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 15th. Canadian Imperial Bank of Commerce set a $62.50 target price on shares of Brookfield Asset Management in a research note on Monday, May 11th. Piper Sandler reiterated a “neutral” rating and set a $50.00 price target (up from $48.00) on shares of Brookfield Asset Management in a research report on Monday, May 18th. Finally, Royal Bank Of Canada reduced their price target on shares of Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating on the stock in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $60.03.

Brookfield Asset Management Stock Up 1.4%

Shares of NYSE:BAM opened at $46.35 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a market capitalization of $75.93 billion, a PE ratio of 30.10, a price-to-earnings-growth ratio of 1.86 and a beta of 1.29. The firm’s 50-day moving average is $47.00 and its two-hundred day moving average is $47.87. Brookfield Asset Management Ltd. has a 1 year low of $42.20 and a 1 year high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Analysts predict that Brookfield Asset Management Ltd. will post 1.76 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were paid a dividend of $0.5025 per share. This represents a $2.01 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Friday, May 29th. Brookfield Asset Management’s dividend payout ratio is presently 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.