Renaissance Technologies LLC Has $49.04 Million Stock Holdings in Brookfield Asset Management Ltd. $BAM

Renaissance Technologies LLC increased its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 283.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,103,325 shares of the financial services provider’s stock after buying an additional 815,800 shares during the quarter. Renaissance Technologies LLC owned 0.07% of Brookfield Asset Management worth $49,043,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. AQR Capital Management LLC acquired a new stake in Brookfield Asset Management during the 1st quarter worth about $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of 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 during the period. Northwestern Mutual Wealth Management Co. lifted its position 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 worth $139,000 after purchasing an additional 497 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Brookfield Asset Management by 17.6% in the second 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 boosted its holdings in shares of 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 purchasing an additional 3,493,431 shares during the period. 68.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wall Street Zen downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. Weiss Ratings downgraded shares of Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 15th. Piper Sandler reissued a “neutral” rating and set a $50.00 target price (up from $48.00) on shares of Brookfield Asset Management in a research note on Monday, May 18th. Royal Bank Of Canada lowered their price target on shares of Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating on the stock in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. dropped their price target on shares of 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. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Brookfield Asset Management currently has an average rating of “Hold” and a consensus target price of $59.03.

Brookfield Asset Management Trading Up 2.7%

NYSE:BAM opened at $47.59 on Tuesday. The company has a market capitalization of $77.96 billion, a P/E ratio of 30.90, a P/E/G ratio of 1.89 and a beta of 1.29. The stock’s 50 day moving average price is $46.98 and its 200 day moving average price is $47.77. 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 52 week low of $42.20 and a 52 week high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The firm 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 declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were issued a dividend of $0.5025 per share. The ex-dividend date was Friday, May 29th. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.2%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 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.