Brookfield Asset Management Ltd. $BAM Stock Position Boosted by GSA Capital Partners LLP

GSA Capital Partners LLP lifted its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 228.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,488 shares of the financial services provider’s stock after acquiring an additional 11,472 shares during the quarter. GSA Capital Partners LLP’s holdings in Brookfield Asset Management were worth $939,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Brookfield Asset Management during the 2nd quarter valued at $294,730,000. State Street Corp boosted its stake 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 valued at $194,845,000 after buying an additional 3,493,431 shares in the last quarter. Geode Capital Management LLC grew its holdings in Brookfield Asset Management by 62.4% during the second quarter. Geode Capital Management LLC now owns 3,755,340 shares of the financial services provider’s stock worth $208,571,000 after acquiring an additional 1,443,441 shares during the period. The Manufacturers Life Insurance Company raised its position in Brookfield Asset Management by 25.5% in the second quarter. The Manufacturers Life Insurance Company now owns 4,218,119 shares of the financial services provider’s stock worth $232,402,000 after acquiring an additional 857,994 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Brookfield Asset Management by 36.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,406,520 shares of the financial services provider’s stock valued at $133,281,000 after acquiring an additional 641,300 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Up 1.1%

Shares of NYSE:BAM opened at $50.60 on Friday. The firm has a 50 day simple moving average of $52.10 and a 200 day simple moving average of $54.91. Brookfield Asset Management Ltd. has a 52 week low of $41.78 and a 52 week high of $64.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $82.88 billion, a PE ratio of 33.29, a price-to-earnings-growth ratio of 1.82 and a beta of 1.40.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.06. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.40 billion. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.67%. As a group, research analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be given a dividend of $0.5025 per share. The ex-dividend date of this dividend is Friday, February 27th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.44. This represents a $2.01 annualized dividend and a yield of 4.0%. Brookfield Asset Management’s payout ratio is presently 132.24%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BAM shares. Keefe, Bruyette & Woods lowered their price objective on shares of Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating on the stock in a research note on Monday, November 10th. Scotiabank set a $64.00 target price on shares of Brookfield Asset Management and gave the stock an “outperform” rating in a report on Thursday, February 5th. UBS Group set a $52.00 price target on Brookfield Asset Management in a report on Friday. Royal Bank Of Canada set a $74.00 price objective on Brookfield Asset Management and gave the company an “outperform” rating in a research report on Monday, December 15th. Finally, Loop Capital set a $60.00 target price on Brookfield Asset Management in a report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Brookfield Asset Management has an average rating of “Hold” and a consensus price target of $63.65.

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.