Schwartz Investment Counsel Inc. Purchases 10,437 Shares of Brookfield Asset Management Ltd. $BAM

Schwartz Investment Counsel Inc. raised its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 15.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 80,154 shares of the financial services provider’s stock after acquiring an additional 10,437 shares during the quarter. Schwartz Investment Counsel Inc.’s holdings in Brookfield Asset Management were worth $4,199,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Brookfield Asset Management by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 17,723,182 shares of the financial services provider’s stock worth $928,414,000 after acquiring an additional 297,790 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Brookfield Asset Management by 7.3% in the 4th quarter. Principal Financial Group Inc. now owns 7,863,457 shares of the financial services provider’s stock valued at $411,972,000 after acquiring an additional 533,639 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Brookfield Asset Management by 72.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,904,677 shares of the financial services provider’s stock valued at $222,161,000 after acquiring an additional 1,642,375 shares in the last quarter. State Street Corp grew its holdings in shares of Brookfield Asset Management by 11,172.2% in the 2nd quarter. State Street Corp now owns 3,524,700 shares of the financial services provider’s stock valued at $194,845,000 after acquiring an additional 3,493,431 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Brookfield Asset Management by 6.9% in the 3rd quarter. Bank of America Corp DE now owns 3,173,231 shares of the financial services provider’s stock valued at $180,684,000 after acquiring an additional 204,575 shares in the last quarter. 68.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BAM has been the subject of several analyst reports. Zacks Research cut shares of Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 20th. UBS Group set a $52.00 target price on shares of Brookfield Asset Management in a research note on Friday, February 20th. Morgan Stanley dropped their price objective on Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 21st. Scotiabank reaffirmed an “outperform” rating and issued a $57.00 price objective (up from $56.00) on shares of Brookfield Asset Management in a research report on Monday. Finally, The Goldman Sachs Group cut their price objective on Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $60.09.

Brookfield Asset Management Price Performance

BAM stock opened at $48.75 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.38 and a debt-to-equity ratio of 0.34. Brookfield Asset Management Ltd. has a 12 month low of $42.20 and a 12 month high of $64.10. The firm has a market cap of $79.87 billion, a P/E ratio of 31.66, a P/E/G ratio of 2.01 and a beta of 1.28. The company’s 50-day moving average price is $45.95 and its two-hundred day moving average price is $50.01.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.43 billion. On average, analysts anticipate that Brookfield Asset Management Ltd. will post 1.74 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be paid a $0.5025 dividend. The ex-dividend date is Friday, May 29th. This represents a $2.01 annualized dividend and a dividend yield of 4.1%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 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.