Goldman Sachs Group Inc. Increases Position in Brookfield Asset Management Ltd. $BAM

Goldman Sachs Group Inc. boosted its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 27.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,034,379 shares of the financial services provider’s stock after acquiring an additional 440,952 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Brookfield Asset Management were worth $106,581,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. LOM Asset Management Ltd bought a new position in Brookfield Asset Management in the 4th quarter valued at $31,000. eCIO Inc. bought a new position in Brookfield Asset Management in the 4th quarter valued at $42,000. Assetmark Inc. grew its position 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 acquiring an additional 395 shares during the last quarter. Cary Street Partners Financial LLC grew its position 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 acquiring an additional 562 shares during the last quarter. Finally, Allworth Financial LP grew its position 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 acquiring an additional 333 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Scotiabank reaffirmed an “outperform” rating and issued a $57.00 price objective (up from $56.00) on shares of Brookfield Asset Management in a research report on Monday, May 11th. Royal Bank Of Canada cut their price objective on Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating on the stock in a research report on Monday, May 11th. Wall Street Zen downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Zacks Research downgraded Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 20th. Finally, Piper Sandler reiterated 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. 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 given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $60.21.

Brookfield Asset Management Price Performance

BAM opened at $47.14 on Wednesday. Brookfield Asset Management Ltd. has a 12-month low of $42.20 and a 12-month high of $64.10. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.34. The business’s fifty day simple moving average is $47.26 and its 200-day simple moving average is $49.26. The company has a market capitalization of $77.21 billion, a price-to-earnings ratio of 30.61, a PEG ratio of 1.85 and a beta of 1.26.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.02. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.43 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. On average, equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.75 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be paid a $0.5025 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $2.01 dividend on an annualized basis and a yield of 4.3%. Brookfield Asset Management’s payout ratio is 130.52%.

About Brookfield Asset Management

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.