Griffin Asset Management Inc. Takes Position in Brookfield Asset Management Ltd. $BAM

Griffin Asset Management Inc. acquired 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 disclosure with the SEC. The fund acquired 14,548 shares of the financial services provider’s stock, valued at approximately $762,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Northwestern Mutual Wealth Management Co. raised its holdings in Brookfield Asset Management by 88,805.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,725,314 shares of the financial services provider’s stock worth $247,559,000 after acquiring an additional 4,719,999 shares during the period. State Street Corp raised its holdings in 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 worth $194,845,000 after acquiring an additional 3,493,431 shares during the period. Legal & General Group Plc raised its holdings in Brookfield Asset Management by 2,834.0% in the 3rd quarter. Legal & General Group Plc now owns 2,365,709 shares of the financial services provider’s stock worth $134,659,000 after acquiring an additional 2,285,077 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in 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 worth $222,161,000 after acquiring an additional 1,642,375 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in Brookfield Asset Management by 55.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,699,374 shares of the financial services provider’s stock worth $94,117,000 after acquiring an additional 602,962 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Canadian Imperial Bank of Commerce set a $62.50 target price on shares of Brookfield Asset Management in a report on Monday, May 11th. Morgan Stanley dropped their price objective on shares of Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. The Goldman Sachs Group dropped their price objective on shares of Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. BMO Capital Markets upgraded shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Finally, Zacks Research downgraded shares of Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a report on Friday, March 20th. One equities research 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 company. According to MarketBeat, Brookfield Asset Management has an average rating of “Hold” and a consensus price target of $60.21.

Brookfield Asset Management Stock Up 1.0%

Shares of NYSE:BAM opened at $48.54 on Friday. Brookfield Asset Management Ltd. has a 52 week low of $42.20 and a 52 week high of $64.10. 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 company has a market capitalization of $79.52 billion, a PE ratio of 31.52, a PEG ratio of 1.95 and a beta of 1.28. The company has a 50 day moving average price of $46.20 and a two-hundred day moving average price of $49.72.

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

Brookfield Asset Management Announces Dividend

The business also recently announced 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. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Friday, May 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 130.52%.

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.