Norges Bank Acquires Shares of 5,028,864 Brookfield Asset Management Ltd. $BAM

Norges Bank acquired a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 5,028,864 shares of the financial services provider’s stock, valued at approximately $263,444,000.

A number of other large investors also recently made changes to their positions in the stock. Eurizon Capital SGR S.p.A. acquired a new position in shares of Brookfield Asset Management in the 4th quarter valued at $220,000. Hillsdale Investment Management Inc. lifted its stake in shares of Brookfield Asset Management by 0.8% in the 4th quarter. Hillsdale Investment Management Inc. now owns 256,295 shares of the financial services provider’s stock valued at $13,450,000 after purchasing an additional 2,083 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Brookfield Asset Management by 277.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 20,039 shares of the financial services provider’s stock valued at $1,050,000 after purchasing an additional 14,724 shares during the period. Carnegie Lake Advisors LLC lifted its stake in shares of Brookfield Asset Management by 16.3% in the 4th quarter. Carnegie Lake Advisors LLC now owns 14,301 shares of the financial services provider’s stock valued at $749,000 after purchasing an additional 2,000 shares during the period. Finally, Foundations Investment Advisors LLC lifted its stake in shares of Brookfield Asset Management by 1.3% in the 4th quarter. Foundations Investment Advisors LLC now owns 17,165 shares of the financial services provider’s stock valued at $899,000 after purchasing an additional 226 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

NYSE:BAM opened at $47.76 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.38 and a current ratio of 1.38. The stock’s 50-day simple moving average is $46.88 and its 200 day simple moving average is $49.46. The company has a market cap of $78.23 billion, a P/E ratio of 31.01, a P/E/G ratio of 1.93 and a beta of 1.26. 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) (TSE:BAM.A) last released its earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%.The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.43 billion. As a group, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.75 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be given a dividend of $0.5025 per share. This represents a $2.01 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Friday, May 29th. Brookfield Asset Management’s payout ratio is 130.52%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BAM shares. BMO Capital Markets raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 5th. Morgan Stanley cut their price target on Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 21st. JPMorgan Chase & Co. cut their price target on Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. Scotiabank reaffirmed an “outperform” rating and set a $57.00 price objective (up from $56.00) on shares of Brookfield Asset Management in a research note on Monday, May 11th. Finally, Weiss Ratings downgraded Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.21.

Brookfield Asset Management 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.