Intech Investment Management LLC Boosts Stock Holdings in Brookfield Asset Management Ltd. $BAM

Intech Investment Management LLC lifted its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 350.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,722 shares of the financial services provider’s stock after buying an additional 30,122 shares during the quarter. Intech Investment Management LLC’s holdings in Brookfield Asset Management were worth $2,204,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Manchester Capital Management LLC raised its holdings in Brookfield Asset Management by 559.5% during the 2nd quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 442 shares during the period. Sagard Holdings Management Inc. purchased a new position in shares of Brookfield Asset Management in the second quarter valued at $39,000. Assetmark Inc. raised its stake in shares of Brookfield Asset Management by 95.9% during the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 395 shares during the period. Cary Street Partners Financial LLC lifted its holdings in Brookfield Asset Management by 227.5% during the 3rd 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 in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Brookfield Asset Management by 93.3% in the 3rd quarter. GAMMA Investing LLC now owns 831 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 401 shares during the period. 68.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BAM. JPMorgan Chase & Co. increased their price target on shares of Brookfield Asset Management from $68.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Scotiabank set a $64.00 target price on shares of Brookfield Asset Management and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Loop Capital set a $60.00 price target on shares of Brookfield Asset Management in a report on Tuesday, January 6th. Zacks Research raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 19th. Finally, BMO Capital Markets upgraded Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. Two equities research analysts have 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $63.65.

Brookfield Asset Management Stock Performance

NYSE BAM opened at $46.56 on Wednesday. Brookfield Asset Management Ltd. has a 52-week low of $41.78 and a 52-week high of $64.10. The company has a fifty day moving average of $51.42 and a 200-day moving average of $54.13. The company has a market capitalization of $76.26 billion, a P/E ratio of 30.63, a P/E/G ratio of 1.66 and a beta of 1.42. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.97 and a current ratio of 0.97.

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. Brookfield Asset Management had a return on equity of 29.67% and a net margin of 51.59%.The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.40 billion. As a group, equities research 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. Shareholders of record on Friday, February 27th will be paid a $0.5025 dividend. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.44. This represents a $2.01 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Friday, February 27th. Brookfield Asset Management’s payout ratio is currently 132.24%.

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.