14,953 Shares in Brookfield Asset Management Ltd. $BAM Acquired by Maridea Wealth Management LLC

Maridea Wealth Management LLC acquired a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 14,953 shares of the financial services provider’s stock, valued at approximately $816,000.

A number of other institutional investors have also recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd raised its stake in shares of Brookfield Asset Management by 1,270.6% in the second quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 432 shares during the last quarter. Manchester Capital Management LLC lifted its holdings in Brookfield Asset Management by 559.5% in the second quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 442 shares during the period. Sagard Holdings Management Inc. bought a new position in Brookfield Asset Management in the second quarter valued at about $39,000. Assetmark Inc. grew its stake in shares of Brookfield Asset Management by 95.9% during the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 395 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Brookfield Asset Management by 93.3% during the 3rd quarter. GAMMA Investing LLC now owns 831 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 401 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BAM shares. Scotiabank set a $64.00 target price on shares of Brookfield Asset Management and gave the company an “outperform” rating in a research report on Thursday, February 5th. National Bank Financial reduced their price objective on Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating for the company in a research note on Monday, October 27th. Loop Capital set a $60.00 price objective on shares of Brookfield Asset Management in a research report on Tuesday, January 6th. UBS Group set a $58.00 target price on Brookfield Asset Management and gave the company a “neutral” rating in a research note on Tuesday, January 13th. Finally, JPMorgan Chase & Co. boosted their price target on Brookfield Asset Management from $68.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued 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 “Hold” and a consensus price target of $64.00.

Brookfield Asset Management Price Performance

NYSE:BAM opened at $52.47 on Thursday. The business’s 50-day moving average is $52.25 and its 200 day moving average is $55.02. Brookfield Asset Management Ltd. has a 12 month low of $41.78 and a 12 month high of $64.10. The company has a market capitalization of $85.94 billion, a P/E ratio of 34.52, a P/E/G ratio of 1.92 and a beta of 1.40. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.05.

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

Brookfield Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders 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 a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.44. Brookfield Asset Management’s dividend payout ratio is currently 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.