Weiss Asset Management LP Takes $725,000 Position in Brookfield Asset Management Ltd. $BAM

Weiss Asset Management LP acquired a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the first quarter, Holdings Channel.com reports. The firm acquired 16,320 shares of the financial services provider’s stock, valued at approximately $725,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BAM. Waverly Advisors LLC grew its holdings in Brookfield Asset Management by 20.8% during the first quarter. Waverly Advisors LLC now owns 13,656 shares of the financial services provider’s stock valued at $607,000 after purchasing an additional 2,347 shares during the last quarter. Van Den Berg Management I Inc. lifted its stake in shares of Brookfield Asset Management by 49.6% in the first quarter. Van Den Berg Management I Inc. now owns 42,080 shares of the financial services provider’s stock worth $1,870,000 after buying an additional 13,949 shares during the last quarter. Entropy Technologies LP lifted its stake in shares of Brookfield Asset Management by 31.3% in the first quarter. Entropy Technologies LP now owns 80,257 shares of the financial services provider’s stock worth $3,567,000 after buying an additional 19,133 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Brookfield Asset Management by 17.7% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 942,000 shares of the financial services provider’s stock worth $41,867,000 after buying an additional 142,000 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Brookfield Asset Management by 283.7% during the 1st quarter. Renaissance Technologies LLC now owns 1,103,325 shares of the financial services provider’s stock worth $49,043,000 after buying an additional 815,800 shares during the period. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BAM has been the topic of several recent analyst reports. Weiss Ratings downgraded shares of Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 15th. Wall Street Zen cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. JPMorgan Chase & Co. lowered their price target on Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. Piper Sandler reissued 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. Finally, The Goldman Sachs Group decreased their target price on Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $59.03.

Brookfield Asset Management Trading Up 2.7%

Shares of BAM stock opened at $47.59 on Tuesday. The firm has a market capitalization of $77.96 billion, a P/E ratio of 30.90, a price-to-earnings-growth ratio of 1.89 and a beta of 1.29. Brookfield Asset Management Ltd. has a 1 year low of $42.20 and a 1 year high of $64.10. The firm’s fifty day simple moving average is $46.98 and its 200 day simple moving average is $47.77. 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 (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 for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. As a group, sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.76 EPS for the current year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were given a dividend of $0.5025 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.2%. Brookfield Asset Management’s dividend 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.