Van Den Berg Management I Inc. grew its position in Brookfield Asset Management Ltd. (NYSE:BAM – Free Report) (TSE:BAM.A) by 49.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,080 shares of the financial services provider’s stock after acquiring an additional 13,949 shares during the period. Van Den Berg Management I Inc.’s holdings in Brookfield Asset Management were worth $1,870,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Zions Bancorporation National Association UT increased its stake in shares of Brookfield Asset Management by 241.3% in the 4th quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 345 shares in the last quarter. LOM Asset Management Ltd acquired a new position in Brookfield Asset Management in the 4th quarter worth about $31,000. eCIO Inc. purchased a new position in Brookfield Asset Management during the fourth quarter worth approximately $42,000. Allworth Financial LP boosted its position in Brookfield Asset Management by 47.8% during the fourth quarter. Allworth Financial LP now owns 1,029 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 333 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in Brookfield Asset Management by 709.8% in the fourth quarter. Fifth Third Bancorp now owns 1,069 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 937 shares during the period. 68.41% of the stock is owned by hedge funds and other institutional investors.
Brookfield Asset Management Stock Up 1.4%
Shares of BAM opened at $46.35 on Friday. The stock has a 50 day moving average price of $47.00 and a 200 day moving average price of $47.87. Brookfield Asset Management Ltd. has a one year low of $42.20 and a one year high of $64.10. 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 has a market capitalization of $75.93 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 1.86 and a beta of 1.29.
Brookfield Asset Management Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were paid a $0.5025 dividend. This represents a $2.01 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, May 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 130.52%.
Analyst Ratings Changes
BAM has been the subject of a number of recent analyst reports. Weiss Ratings cut Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 15th. Piper Sandler reiterated a “neutral” rating and set a $50.00 target price (up from $48.00) on shares of Brookfield Asset Management in a research report on Monday, May 18th. Royal Bank Of Canada dropped their price target on shares of Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating on the stock in a research note on Monday, May 11th. The Goldman Sachs Group cut their price target on shares of Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Finally, Morgan Stanley set a $56.00 price objective on shares of Brookfield Asset Management and gave the stock an “equal weight” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $60.03.
Read Our Latest Analysis on BAM
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.
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