Brookfield Asset Management Ltd. $BAM Holdings Lifted by Cumberland Partners Ltd

Cumberland Partners Ltd lifted its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 78.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 126,015 shares of the financial services provider’s stock after buying an additional 55,225 shares during the period. Cumberland Partners Ltd’s holdings in Brookfield Asset Management were worth $7,168,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. PDS Planning Inc grew its stake in shares of Brookfield Asset Management by 4.8% in the third quarter. PDS Planning Inc now owns 4,054 shares of the financial services provider’s stock worth $231,000 after purchasing an additional 184 shares in the last quarter. Truist Financial Corp lifted its holdings in Brookfield Asset Management by 1.4% in the third quarter. Truist Financial Corp now owns 13,240 shares of the financial services provider’s stock worth $754,000 after purchasing an additional 187 shares during the period. GoalVest Advisory LLC grew its position in Brookfield Asset Management by 9.5% in the 2nd quarter. GoalVest Advisory LLC now owns 2,180 shares of the financial services provider’s stock valued at $121,000 after buying an additional 190 shares in the last quarter. Yousif Capital Management LLC increased its stake in Brookfield Asset Management by 2.1% during the 3rd quarter. Yousif Capital Management LLC now owns 11,010 shares of the financial services provider’s stock valued at $627,000 after buying an additional 226 shares during the period. Finally, Cullen Frost Bankers Inc. raised its position in shares of Brookfield Asset Management by 38.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 846 shares of the financial services provider’s stock worth $48,000 after buying an additional 233 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BAM shares. Keefe, Bruyette & Woods decreased their price objective on shares of Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating for the company in a report on Monday, November 10th. National Bank Financial decreased their price target on Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating for the company in a research note on Monday, October 27th. Wall Street Zen upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. BMO Capital Markets upgraded Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Finally, Royal Bank Of Canada set a $74.00 target price on Brookfield Asset Management and gave the company an “outperform” rating in a research note on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $64.00.

Brookfield Asset Management Stock Performance

BAM opened at $52.47 on Thursday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.05. The firm has a market cap of $85.94 billion, a PE ratio of 34.52, a P/E/G ratio of 1.92 and a beta of 1.40. The business has a fifty day simple moving average of $52.25 and a 200-day simple moving average of $55.02. Brookfield Asset Management Ltd. has a fifty-two week low of $41.78 and a fifty-two week high of $64.10.

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

Brookfield Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be given a $0.5025 dividend. This represents a $2.01 annualized dividend and a dividend yield of 3.8%. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Friday, February 27th. Brookfield Asset Management’s payout ratio is 115.13%.

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.