Madison Asset Management LLC Invests $70.43 Million in Brookfield Asset Management Ltd. $BAM

Madison Asset Management LLC acquired a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,570,419 shares of the financial services provider’s stock, valued at approximately $70,433,000. Madison Asset Management LLC owned approximately 0.10% of Brookfield Asset Management at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crescent Grove Advisors LLC lifted its position in shares of Brookfield Asset Management by 4.3% during the fourth quarter. Crescent Grove Advisors LLC now owns 4,800 shares of the financial services provider’s stock valued at $251,000 after buying an additional 200 shares during the last quarter. Kestra Advisory Services LLC grew its position in shares of Brookfield Asset Management by 3.6% in the 4th quarter. Kestra Advisory Services LLC now owns 6,301 shares of the financial services provider’s stock worth $330,000 after buying an additional 218 shares during the last quarter. Foundations Investment Advisors LLC raised its stake in shares of Brookfield Asset Management by 1.3% during the 4th quarter. Foundations Investment Advisors LLC now owns 17,165 shares of the financial services provider’s stock worth $899,000 after acquiring an additional 226 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in Brookfield Asset Management by 3.2% during the third quarter. Integrated Wealth Concepts LLC now owns 7,578 shares of the financial services provider’s stock valued at $431,000 after acquiring an additional 238 shares during the last quarter. Finally, Cullen Frost Bankers Inc. boosted its stake in Brookfield Asset Management by 29.6% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,096 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BAM. Royal Bank Of Canada reduced their price target on Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating on the stock in a research report on Monday, May 11th. Scotiabank reissued an “outperform” rating and issued a $59.00 price objective on shares of Brookfield Asset Management in a research report on Thursday, August 6th. Wall Street Zen upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Morgan Stanley set a $56.00 target price on Brookfield Asset Management and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Brookfield Asset Management in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $59.32.

Brookfield Asset Management Trading Up 2.3%

Shares of NYSE:BAM opened at $52.66 on Thursday. Brookfield Asset Management Ltd. has a 52-week low of $42.20 and a 52-week high of $62.57. The stock has a market cap of $86.26 billion, a price-to-earnings ratio of 30.61, a PEG ratio of 2.11 and a beta of 1.26. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average price of $48.46 and a 200-day moving average price of $47.74.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Brookfield Asset Management had a return on equity of 31.50% and a net margin of 48.89%.The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.47 billion. Equities analysts predict that Brookfield Asset Management Ltd. will post 1.78 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.5025 per share. This represents a $2.01 annualized dividend and a yield of 3.8%. The ex-dividend date is Monday, August 31st. Brookfield Asset Management’s payout ratio is presently 116.86%.

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.