NewGen Asset Management Ltd Purchases Shares of 75,000 Brookfield Asset Management Ltd. $BAM

NewGen Asset Management Ltd purchased a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the 3rd quarter, Holdings Channel reports. The firm purchased 75,000 shares of the financial services provider’s stock, valued at approximately $3,977,000. Brookfield Asset Management accounts for about 1.1% of NewGen Asset Management Ltd’s holdings, making the stock its 16th largest position.

Several other institutional investors have also recently modified their holdings of BAM. Manchester Capital Management LLC lifted its stake in Brookfield Asset Management by 559.5% in the 2nd quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock valued at $29,000 after buying an additional 442 shares in the last quarter. Sagard Holdings Management Inc. acquired a new stake in Brookfield Asset Management during the 2nd quarter valued at $39,000. Assetmark Inc. increased its position in Brookfield Asset Management by 95.9% during the third quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock worth $46,000 after buying an additional 395 shares in the last quarter. Cary Street Partners Financial LLC increased its position in Brookfield Asset Management by 227.5% during the third quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock worth $46,000 after buying an additional 562 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Brookfield Asset Management by 93.3% in the third quarter. GAMMA Investing LLC now owns 831 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 401 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BAM has been the topic of a number of analyst reports. UBS Group set a $52.00 price objective on Brookfield Asset Management in a research note on Friday, February 20th. Loop Capital set a $60.00 target price on shares of Brookfield Asset Management in a research note on Tuesday, January 6th. The Goldman Sachs Group reduced their target price on shares of Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. Scotiabank set a $64.00 price target on shares of Brookfield Asset Management and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Finally, Morgan Stanley set a $63.00 price target on shares of Brookfield Asset Management in a report on Tuesday, February 17th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Brookfield Asset Management presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.65.

Brookfield Asset Management Price Performance

BAM opened at $45.97 on Tuesday. Brookfield Asset Management Ltd. has a 1 year low of $41.78 and a 1 year high of $64.10. The company’s 50 day simple moving average is $50.87 and its 200 day simple moving average is $53.75. The stock has a market capitalization of $75.30 billion, a PE ratio of 30.24, a P/E/G ratio of 1.62 and a beta of 1.42. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.92 and a current ratio of 0.92.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.41 by $0.06. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.40 billion. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.81%. As a group, sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be issued a dividend of $0.5025 per share. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Friday, February 27th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.44. 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.