Northwestern Mutual Wealth Management Co. Purchases 4,719,999 Shares of Brookfield Asset Management Ltd. $BAM

Northwestern Mutual Wealth Management Co. boosted its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 88,805.2% during the 4th quarter, HoldingsChannel reports. The fund owned 4,725,314 shares of the financial services provider’s stock after purchasing an additional 4,719,999 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Brookfield Asset Management were worth $247,559,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. increased its stake in 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 worth $222,161,000 after acquiring an additional 1,642,375 shares during the last quarter. Vanguard Group Inc. increased its stake in 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 worth $991,677,000 after acquiring an additional 253,789 shares during the last quarter. Cumberland Partners Ltd increased its stake in 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 worth $7,168,000 after acquiring an additional 55,225 shares during the last quarter. Hillsdale Investment Management Inc. increased its stake in 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 worth $14,463,000 after acquiring an additional 100,713 shares during the last quarter. Finally, New York State Common Retirement Fund increased its stake in Brookfield Asset Management by 18.5% during the third quarter. New York State Common Retirement Fund now owns 465,600 shares of the financial services provider’s stock worth $26,511,000 after acquiring an additional 72,600 shares during the last quarter. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Trading Down 3.0%

BAM opened at $47.96 on Friday. The stock has a market cap of $78.56 billion, a price-to-earnings ratio of 31.14, a P/E/G ratio of 1.95 and a beta of 1.28. The stock’s 50 day moving average price is $46.05 and its 200-day moving average price is $49.92. Brookfield Asset Management Ltd. has a one year low of $42.20 and a one year high of $64.10. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.92 and a current ratio of 1.38.

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 analysts’ consensus estimates of $0.41 by $0.02. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.43 billion. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%. On average, equities analysts forecast that Brookfield Asset Management Ltd. will post 1.74 EPS for the current year.

Brookfield Asset Management Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently commented on the company. The Goldman Sachs Group cut their target price on Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Morgan Stanley cut their target price 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. Weiss Ratings raised Brookfield Asset Management from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 1st. Canadian Imperial Bank of Commerce set a $62.50 target price on Brookfield Asset Management in a research note on Monday, May 11th. Finally, Wall Street Zen cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $60.09.

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.