Cibc World Market Inc. Cuts Stake in Brookfield Asset Management Ltd. $BAM

Cibc World Market Inc. lessened its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 33.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,220,088 shares of the financial services provider’s stock after selling 1,601,253 shares during the period. Cibc World Market Inc.’s holdings in Brookfield Asset Management were worth $183,352,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in Brookfield Asset Management during the second quarter worth about $294,730,000. State Street Corp raised its stake in shares of Brookfield Asset Management by 11,172.2% during the 2nd quarter. State Street Corp now owns 3,524,700 shares of the financial services provider’s stock worth $194,845,000 after buying an additional 3,493,431 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Brookfield Asset Management by 62.4% during the 2nd quarter. Geode Capital Management LLC now owns 3,755,340 shares of the financial services provider’s stock worth $208,571,000 after buying an additional 1,443,441 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Brookfield Asset Management by 25.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,218,119 shares of the financial services provider’s stock valued at $232,402,000 after buying an additional 857,994 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Brookfield Asset Management by 36.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,406,520 shares of the financial services provider’s stock valued at $133,281,000 after buying an additional 641,300 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BAM. Loop Capital set a $60.00 price objective on Brookfield Asset Management 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. Royal Bank Of Canada set a $74.00 price target on shares of Brookfield Asset Management and gave the company an “outperform” rating in a report on Monday, December 15th. JPMorgan Chase & Co. boosted their price objective on shares of Brookfield Asset Management from $68.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Finally, National Bankshares lowered their target price on shares of Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating on the stock in a research report on Monday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Brookfield Asset Management currently has an average rating of “Moderate Buy” and an average price target of $64.33.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock opened at $52.94 on Wednesday. The firm has a market capitalization of $86.71 billion, a PE ratio of 34.83, a P/E/G ratio of 2.13 and a beta of 1.40. Brookfield Asset Management Ltd. has a 52 week low of $41.78 and a 52 week high of $64.10. The firm’s 50-day simple moving average is $52.42 and its 200 day simple moving average is $55.38. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.05.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.06. The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.40 billion. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.67%. On average, equities research analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be given a dividend of $0.5025 per share. The ex-dividend date is Friday, February 27th. This represents a $2.01 annualized dividend and a dividend yield of 3.8%. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.44. Brookfield Asset Management’s payout ratio is presently 115.13%.

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.