Cumberland Partners Ltd Invests $5.56 Million in Brookfield Asset Management Ltd. (NYSE:BAM)

Cumberland Partners Ltd bought a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 114,845 shares of the financial services provider’s stock, valued at approximately $5,559,000.

A number of other large investors have also modified their holdings of BAM. ST Germain D J Co. Inc. purchased a new stake in shares of Brookfield Asset Management during the first quarter worth $26,000. Rossby Financial LCC purchased a new stake in shares of Brookfield Asset Management during the first quarter worth $28,000. NewEdge Advisors LLC grew its holdings in shares of Brookfield Asset Management by 61.0% during the fourth quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider’s stock worth $47,000 after buying an additional 325 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Brookfield Asset Management by 1,079.6% during the first quarter. Larson Financial Group LLC now owns 1,097 shares of the financial services provider’s stock worth $53,000 after buying an additional 1,004 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Brookfield Asset Management during the fourth quarter worth $54,000. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analyst Ratings Changes

BAM has been the subject of a number of research reports. TD Securities upped their target price on shares of Brookfield Asset Management from $66.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Wall Street Zen raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Tuesday, April 15th. National Bank Financial assumed coverage on shares of Brookfield Asset Management in a report on Tuesday. They issued an “outperform” rating and a $71.00 price objective for the company. Scotiabank reissued an “outperform” rating and issued a $66.00 price objective (down previously from $69.00) on shares of Brookfield Asset Management in a report on Wednesday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Brookfield Asset Management from $51.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Brookfield Asset Management has a consensus rating of “Moderate Buy” and a consensus price target of $62.06.

Brookfield Asset Management Trading Down 3.0%

NYSE BAM opened at $59.81 on Friday. The firm’s 50-day moving average is $57.27 and its two-hundred day moving average is $54.85. Brookfield Asset Management Ltd. has a 12 month low of $38.18 and a 12 month high of $63.53. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.31 and a quick ratio of 1.31. The stock has a market capitalization of $97.95 billion, a P/E ratio of 42.42, a PEG ratio of 2.38 and a beta of 1.44.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, meeting analysts’ consensus estimates of $0.40. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.29 billion. On average, sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 30th were given a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, May 30th. Brookfield Asset Management’s dividend payout ratio is currently 124.11%.

About Brookfield Asset Management

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.