Midway Capital Research & Management Makes New Investment in Brookfield Asset Management Ltd. $BAM

Midway Capital Research & Management acquired a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 15,820 shares of the financial services provider’s stock, valued at approximately $829,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Brookfield Asset Management by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 17,723,182 shares of the financial services provider’s stock worth $928,414,000 after buying an additional 297,790 shares during the last quarter. TD Asset Management Inc boosted its position in Brookfield Asset Management by 2.0% in the 4th quarter. TD Asset Management Inc now owns 15,769,066 shares of the financial services provider’s stock worth $827,135,000 after purchasing an additional 315,036 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Brookfield Asset Management by 7.3% during the 4th quarter. Principal Financial Group Inc. now owns 7,863,457 shares of the financial services provider’s stock valued at $411,972,000 after acquiring an additional 533,639 shares during the period. Norges Bank acquired a new stake in Brookfield Asset Management in the 4th quarter valued at $263,444,000. Finally, CIBC Asset Management Inc grew its position in shares of Brookfield Asset Management by 99.1% in the fourth quarter. CIBC Asset Management Inc now owns 4,853,861 shares of the financial services provider’s stock valued at $255,449,000 after purchasing an additional 2,415,593 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

BAM has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their price target on Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. Canadian Imperial Bank of Commerce set a $62.50 price objective on Brookfield Asset Management in a report on Monday, May 11th. Morgan Stanley decreased their target price on shares of Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 21st. Weiss Ratings lowered Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 15th. 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 research note on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $60.21.

Brookfield Asset Management Stock Up 0.1%

BAM stock opened at $47.48 on Friday. Brookfield Asset Management Ltd. has a fifty-two week low of $42.20 and a fifty-two week high of $64.10. The company’s 50 day moving average price is $47.76 and its 200 day moving average price is $49.05. 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 firm has a market capitalization of $77.78 billion, a price-to-earnings ratio of 30.83, a PEG ratio of 1.90 and a beta of 1.26.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.43 billion. On average, equities research analysts anticipate 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. Shareholders of record on Friday, May 29th will be paid a $0.5025 dividend. This represents a $2.01 annualized dividend and a yield of 4.2%. The ex-dividend date is Friday, May 29th. Brookfield Asset Management’s dividend payout ratio is currently 130.52%.

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.