13,900 Shares in Brookfield Asset Management Ltd. $BAM Purchased by GatePass Capital LLC

GatePass Capital LLC purchased a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 13,900 shares of the financial services provider’s stock, valued at approximately $728,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. LOM Asset Management Ltd acquired a new stake in shares of Brookfield Asset Management in the fourth quarter worth approximately $31,000. eCIO Inc. acquired a new position in Brookfield Asset Management during the fourth quarter worth approximately $42,000. Assetmark Inc. raised its stake in Brookfield Asset Management by 95.9% during the third quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 395 shares during the period. Cary Street Partners Financial LLC raised its stake in Brookfield Asset Management by 227.5% during the third quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 562 shares during the period. Finally, Cullen Frost Bankers Inc. boosted its holdings in shares of Brookfield Asset Management by 38.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 846 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 233 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BAM. Wall Street Zen downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Scotiabank reiterated an “outperform” rating and issued a $57.00 target price (up from $56.00) on shares of Brookfield Asset Management in a report on Monday, May 11th. JPMorgan Chase & Co. lowered their price target on Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. BMO Capital Markets upgraded Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Finally, Weiss Ratings lowered Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $60.21.

Brookfield Asset Management Stock Up 0.1%

Shares of Brookfield Asset Management stock opened at $47.96 on Tuesday. Brookfield Asset Management Ltd. has a twelve month low of $42.20 and a twelve month high of $64.10. The stock has a market cap of $78.56 billion, a price-to-earnings ratio of 31.14, a price-to-earnings-growth ratio of 1.95 and a beta of 1.28. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.34. The company has a fifty day moving average price of $46.36 and a 200 day moving average price of $49.63.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%. Equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.74 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.5025 per share. The ex-dividend date is 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.