Brookfield Asset Management Ltd. $BAM Shares Acquired by Entropy Technologies LP

Entropy Technologies LP lifted its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 31.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 80,257 shares of the financial services provider’s stock after acquiring an additional 19,133 shares during the period. Entropy Technologies LP’s holdings in Brookfield Asset Management were worth $3,567,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BAM. Zions Bancorporation National Association UT boosted its stake in Brookfield Asset Management by 241.3% in the fourth quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 345 shares in the last quarter. LOM Asset Management Ltd acquired a new stake in shares of Brookfield Asset Management during the fourth quarter worth about $31,000. eCIO Inc. acquired a new stake in shares of Brookfield Asset Management during the fourth quarter worth about $42,000. Allworth Financial LP lifted its holdings in shares of 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 purchasing an additional 333 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Brookfield Asset Management by 709.8% in the 4th 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 last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Up 1.4%

BAM stock opened at $46.35 on Friday. The stock has a market capitalization of $75.93 billion, a PE ratio of 30.10, a price-to-earnings-growth ratio of 1.89 and a beta of 1.29. The company has a fifty day moving average of $47.00 and a 200-day moving average of $47.87. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.38 and a current ratio of 1.38. Brookfield Asset Management Ltd. has a one year low of $42.20 and a one year high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping 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 $1.43 billion for the quarter, compared to analyst estimates of $1.43 billion. As a group, analysts expect that Brookfield Asset Management Ltd. will post 1.76 EPS for the current year.

Brookfield Asset Management Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. dropped 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. Royal Bank Of Canada reduced their price objective on Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating for the company in a research note on Monday, May 11th. The Goldman Sachs Group decreased their price objective on Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Canadian Imperial Bank of Commerce set a $62.50 target price on shares of Brookfield Asset Management in a research report on Monday, May 11th. Finally, Wall Street Zen cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. One investment 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 given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $60.03.

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.