QV Investors Inc. Cuts Holdings in Brookfield Asset Management Ltd. $BAM

QV Investors Inc. decreased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 249,744 shares of the financial services provider’s stock after selling 19,314 shares during the period. QV Investors Inc.’s holdings in Brookfield Asset Management were worth $13,100,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of BAM. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Brookfield Asset Management by 72.6% during the 3rd 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. boosted its holdings in shares of Brookfield Asset Management by 1.5% during the 3rd 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 last quarter. Cumberland Partners Ltd grew its stake in shares of Brookfield Asset Management by 78.0% in 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 period. Hillsdale Investment Management Inc. grew its stake in shares of Brookfield Asset Management by 65.6% in 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 period. Finally, New York State Common Retirement Fund raised its holdings in shares of 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 valued at $26,511,000 after purchasing an additional 72,600 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

BAM has been the topic of a number of research analyst reports. BMO Capital Markets upgraded shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. The Goldman Sachs Group cut their target price on shares of Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, January 6th. Loop Capital set a $60.00 price target on Brookfield Asset Management in a report on Tuesday, January 6th. JPMorgan Chase & Co. raised their price target on Brookfield Asset Management from $68.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Brookfield Asset Management in a report on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Brookfield Asset Management has a consensus rating of “Hold” and an average price target of $63.18.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM opened at $44.49 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $72.89 billion, a PE ratio of 29.27, a price-to-earnings-growth ratio of 1.57 and a beta of 1.38. The firm’s 50 day moving average price is $47.46 and its 200-day moving average price is $51.80. Brookfield Asset Management Ltd. has a twelve month low of $41.78 and a twelve month high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, February 4th. The financial services provider reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.81%. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Equities research analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th were given a dividend of $0.5025 per share. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was 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 presently 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.