Northwestern Mutual Wealth Management Co. increased its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM – Free Report) (TSE:BAM.A) by 277.0% in the fourth quarter, HoldingsChannel reports. The firm owned 20,039 shares of the financial services provider’s stock after buying an additional 14,724 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Brookfield Asset Management were worth $1,050,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LOM Asset Management Ltd purchased a new stake in Brookfield Asset Management in the 4th quarter valued at about $31,000. eCIO Inc. purchased a new stake in Brookfield Asset Management in the 4th quarter valued at about $42,000. Assetmark Inc. grew its holdings in Brookfield Asset Management by 95.9% in the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock valued at $46,000 after buying an additional 395 shares during the period. Cary Street Partners Financial LLC grew its holdings in Brookfield Asset Management by 227.5% in the 3rd quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock valued at $46,000 after buying an additional 562 shares during the period. Finally, Allworth Financial LP grew its holdings in Brookfield Asset Management by 47.8% in the 4th quarter. Allworth Financial LP now owns 1,029 shares of the financial services provider’s stock valued at $54,000 after buying an additional 333 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.
Analyst Ratings Changes
Several analysts have commented on BAM shares. Scotiabank restated an “outperform” rating and issued a $57.00 price target (up from $56.00) on shares of Brookfield Asset Management in a report on Monday, May 11th. Wall Street Zen cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. UBS Group set a $52.00 price target on Brookfield Asset Management in a report on Friday, February 20th. Piper Sandler restated a “neutral” rating and issued a $50.00 price target (up from $48.00) on shares of Brookfield Asset Management in a report on Monday, May 18th. Finally, The Goldman Sachs Group lowered their price target on Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.21.
Brookfield Asset Management Stock Performance
Brookfield Asset Management stock opened at $46.21 on Monday. The stock’s 50 day moving average price is $47.14 and its 200 day moving average price is $49.31. The firm has a market capitalization of $75.69 billion, a PE ratio of 30.01, a price-to-earnings-growth ratio of 1.85 and a beta of 1.26. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.38 and a current ratio of 1.38. Brookfield Asset Management Ltd. has a one year low of $42.20 and a one year high of $64.10.
Brookfield Asset Management (NYSE:BAM – Get Free Report) (TSE:BAM.A) last released its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.43 billion. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%. As a group, sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.75 EPS for the current fiscal year.
Brookfield Asset Management Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be given a dividend of $0.5025 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $2.01 annualized dividend and a yield of 4.3%. Brookfield Asset Management’s payout ratio is 130.52%.
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.
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