TD Asset Management Inc Boosts Stock Position in Brookfield Asset Management Ltd. $BAM

TD Asset Management Inc grew its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,769,066 shares of the financial services provider’s stock after buying an additional 315,036 shares during the period. TD Asset Management Inc’s holdings in Brookfield Asset Management were worth $827,135,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Brookfield Asset Management by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 17,723,182 shares of the financial services provider’s stock valued at $928,414,000 after buying an additional 297,790 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Brookfield Asset Management by 7.3% during the 4th quarter. Principal Financial Group Inc. now owns 7,863,457 shares of the financial services provider’s stock valued at $411,972,000 after buying an additional 533,639 shares in the last quarter. Norges Bank purchased a new position in shares of Brookfield Asset Management during the 4th quarter valued at about $263,444,000. CIBC Asset Management Inc lifted its position in shares of Brookfield Asset Management by 99.1% during the 4th quarter. CIBC Asset Management Inc now owns 4,853,861 shares of the financial services provider’s stock valued at $255,449,000 after buying an additional 2,415,593 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Brookfield Asset Management by 88,805.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,725,314 shares of the financial services provider’s stock valued at $247,559,000 after buying an additional 4,719,999 shares in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Canadian Imperial Bank of Commerce set a $62.50 price objective on Brookfield Asset Management in a research report on Monday, May 11th. BMO Capital Markets raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. Zacks Research cut Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 20th. Royal Bank Of Canada lowered their price target on Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating on the stock in a report on Monday, May 11th. Finally, The Goldman Sachs Group lowered their price target on Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Brookfield Asset Management currently has an average rating of “Hold” and an average price target of $60.21.

Brookfield Asset Management Stock Down 5.3%

NYSE BAM opened at $45.22 on Thursday. The stock’s 50 day moving average is $47.01 and its 200 day moving average is $49.37. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.34. Brookfield Asset Management Ltd. has a 12 month low of $42.20 and a 12 month high of $64.10. The stock has a market cap of $74.08 billion, a PE ratio of 29.37, a P/E/G ratio of 1.92 and a beta of 1.26.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%.The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Research analysts predict that Brookfield Asset Management Ltd. will post 1.75 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm 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 of this dividend is Friday, May 29th. This represents a $2.01 dividend on an annualized basis and a yield of 4.4%. Brookfield Asset Management’s payout ratio 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.