GFI Investment Counsel Ltd. bought a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM – Free Report) (TSE:BAM.A) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 588,390 shares of the financial services provider’s stock, valued at approximately $30,843,000. Brookfield Asset Management comprises approximately 3.3% of GFI Investment Counsel Ltd.’s holdings, making the stock its 14th largest position.
Several other institutional investors have also added to or reduced their stakes in BAM. Birchwood Financial Partners Inc. purchased a new position in shares of Brookfield Asset Management during the 4th quarter worth $110,000. Corient Private Wealth LLC increased its stake in shares of Brookfield Asset Management by 0.3% in the 4th quarter. Corient Private Wealth LLC now owns 1,370,902 shares of the financial services provider’s stock worth $70,879,000 after purchasing an additional 4,113 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in Brookfield Asset Management by 62.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 11,385 shares of the financial services provider’s stock worth $596,000 after buying an additional 4,360 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Brookfield Asset Management by 125.4% in the 4th quarter. NewEdge Advisors LLC now owns 1,891 shares of the financial services provider’s stock worth $99,000 after acquiring an additional 1,052 shares in the last quarter. Finally, XTX Topco Ltd raised its position in shares of Brookfield Asset Management by 299.3% during the 4th quarter. XTX Topco Ltd now owns 29,823 shares of the financial services provider’s stock valued at $1,562,000 after purchasing an additional 22,355 shares during the period. 68.41% of the stock is currently owned by institutional investors.
Brookfield Asset Management Stock Down 1.0%
Shares of NYSE BAM opened at $47.48 on Friday. Brookfield Asset Management Ltd. has a 52-week low of $42.20 and a 52-week high of $64.10. The firm has a market capitalization of $77.78 billion, a price-to-earnings ratio of 30.83, a PEG ratio of 1.93 and a beta of 1.26. The stock has a 50 day moving average price of $47.71 and a 200 day moving average price of $49.06. 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 Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.5025 per share. The ex-dividend date is Friday, May 29th. This represents a $2.01 annualized dividend and a dividend yield of 4.2%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 130.52%.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on BAM shares. Wall Street Zen cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Royal Bank Of Canada lowered their target price on Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday, May 11th. Morgan Stanley cut their target price on shares of Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating for the company in a report on Tuesday, April 21st. Scotiabank restated an “outperform” rating and set a $57.00 target price (up from $56.00) on shares of Brookfield Asset Management in a research report on Monday, May 11th. Finally, The Goldman Sachs Group decreased their price target on Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Brookfield Asset Management currently has an average rating of “Hold” and an average price target of $60.21.
Read Our Latest Analysis on BAM
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.
Featured Articles
- Five stocks we like better than Brookfield Asset Management
- Credo Technologies Accelerates AI—Its Stock Price Will Follow
- Qualcomm Goes All-In: The $10B Bet to Crush NVIDIA
- Jabil Just Gave Investors a Stronger Reason to Buy the Dip
- CarMax In Reverse? Why You Should Buy Now Before the Big Catalysts Emerge
Want to see what other hedge funds are holding BAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brookfield Asset Management Ltd. (NYSE:BAM – Free Report) (TSE:BAM.A).
Receive News & Ratings for Brookfield Asset Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Asset Management and related companies with MarketBeat.com's FREE daily email newsletter.
