Quantinno Capital Management LP Grows Stock Holdings in Brookfield Asset Management Ltd. $BAM

Quantinno Capital Management LP grew its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 105.5% in the first quarter, Holdings Channel reports. The institutional investor owned 281,533 shares of the financial services provider’s stock after purchasing an additional 144,512 shares during the period. Quantinno Capital Management LP’s holdings in Brookfield Asset Management were worth $12,506,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of BAM. AQR Capital Management LLC acquired a new stake in shares of Brookfield Asset Management in the 1st quarter valued at about $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Brookfield Asset Management by 10.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,050 shares of the financial services provider’s stock valued at $12,648,000 after purchasing an additional 24,013 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Brookfield Asset Management by 24.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,512 shares of the financial services provider’s stock valued at $139,000 after buying an additional 497 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Brookfield Asset Management by 17.6% during the 2nd quarter. Cerity Partners LLC now owns 34,666 shares of the financial services provider’s stock worth $1,916,000 after purchasing an additional 5,184 shares in the last quarter. Finally, State Street Corp grew its position in Brookfield Asset Management by 11,172.2% during the second quarter. State Street Corp now owns 3,524,700 shares of the financial services provider’s stock worth $194,845,000 after buying an additional 3,493,431 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

BAM has been the topic of several research reports. Weiss Ratings lowered Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 15th. Canadian Imperial Bank of Commerce set a $62.50 target price on shares of Brookfield Asset Management in a research note on Monday, May 11th. JPMorgan Chase & Co. dropped their price objective on shares of Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. Royal Bank Of Canada dropped their price objective on Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating for the company in a report on Monday, May 11th. Finally, Morgan Stanley set a $56.00 price objective on Brookfield Asset Management and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $59.03.

Brookfield Asset Management Stock Performance

Brookfield Asset Management stock opened at $50.69 on Tuesday. Brookfield Asset Management Ltd. has a 12-month low of $42.20 and a 12-month high of $64.10. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market capitalization of $83.04 billion, a price-to-earnings ratio of 32.92, a price-to-earnings-growth ratio of 1.97 and a beta of 1.26. The firm’s fifty day moving average price is $47.03 and its 200 day moving average price is $47.59.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted 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. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. On average, research analysts forecast that Brookfield Asset Management Ltd. will post 1.76 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th were paid a dividend of $0.5025 per share. This represents a $2.01 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Friday, May 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is 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.