CIBC Asset Management Inc Has $255.45 Million Stock Holdings in Brookfield Asset Management Ltd. $BAM

CIBC Asset Management Inc lifted its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 99.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,853,861 shares of the financial services provider’s stock after purchasing an additional 2,415,593 shares during the period. CIBC Asset Management Inc owned approximately 0.30% of Brookfield Asset Management worth $255,449,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BAM. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Brookfield Asset Management by 72.6% during the third 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 during the period. Vanguard Group Inc. raised its holdings in shares of Brookfield Asset Management by 1.5% during the third quarter. Vanguard Group Inc. now owns 17,425,392 shares of the financial services provider’s stock valued at $991,677,000 after acquiring an additional 253,789 shares during the period. Cumberland Partners Ltd raised its holdings in shares of Brookfield Asset Management by 78.0% during the third quarter. Cumberland Partners Ltd now owns 126,015 shares of the financial services provider’s stock valued at $7,168,000 after acquiring an additional 55,225 shares during the period. Hillsdale Investment Management Inc. raised its holdings in shares of Brookfield Asset Management by 65.6% during the third quarter. Hillsdale Investment Management Inc. now owns 254,212 shares of the financial services provider’s stock valued at $14,463,000 after acquiring an additional 100,713 shares during the period. Finally, Fiera Capital Corp raised its holdings in shares of Brookfield Asset Management by 21.7% during the third quarter. Fiera Capital Corp now owns 184,728 shares of the financial services provider’s stock valued at $10,509,000 after acquiring an additional 32,923 shares during the period. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Price Performance

Shares of Brookfield Asset Management stock opened at $47.76 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.38 and a current ratio of 1.38. The firm’s 50-day simple moving average is $46.88 and its 200-day simple moving average is $49.46. Brookfield Asset Management Ltd. has a twelve month low of $42.20 and a twelve month high of $64.10. The firm has a market cap of $78.23 billion, a P/E ratio of 31.01, a price-to-earnings-growth ratio of 1.93 and a beta of 1.26.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share (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 during the quarter, compared to the consensus estimate of $1.43 billion. As a group, research analysts expect that Brookfield Asset Management Ltd. will post 1.75 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be paid a dividend of $0.5025 per share. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, May 29th. Brookfield Asset Management’s payout ratio is 130.52%.

Wall Street Analyst Weigh In

BAM has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. The Goldman Sachs Group dropped their price target on Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Canadian Imperial Bank of Commerce set a $62.50 price target on Brookfield Asset Management in a research report on Monday, May 11th. JPMorgan Chase & Co. dropped their price target on Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. Finally, Weiss Ratings lowered Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Brookfield Asset Management currently has a consensus rating of “Hold” and an average price target of $60.21.

Brookfield Asset Management Company 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.