Mackenzie Financial Corp Has $599.47 Million Stock Holdings in Brookfield Asset Management Ltd. $BAM

Mackenzie Financial Corp reduced its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 7.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 10,536,185 shares of the financial services provider’s stock after selling 864,745 shares during the quarter. Brookfield Asset Management makes up 0.7% of Mackenzie Financial Corp’s portfolio, making the stock its 26th biggest position. Mackenzie Financial Corp’s holdings in Brookfield Asset Management were worth $599,473,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BAM. Manchester Capital Management LLC boosted its position in shares of Brookfield Asset Management by 559.5% during the 2nd quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 442 shares in the last quarter. Sagard Holdings Management Inc. bought a new stake in Brookfield Asset Management in the 2nd quarter valued at about $39,000. Assetmark Inc. increased its position in Brookfield Asset Management by 95.9% in the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock valued at $46,000 after buying an additional 395 shares in the last quarter. Cary Street Partners Financial LLC raised its stake in Brookfield Asset Management by 227.5% during the 3rd quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock worth $46,000 after buying an additional 562 shares during the period. Finally, GAMMA Investing LLC raised its stake in Brookfield Asset Management by 93.3% during the 3rd quarter. GAMMA Investing LLC now owns 831 shares of the financial services provider’s stock worth $47,000 after buying an additional 401 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

BAM stock opened at $45.28 on Wednesday. The company has a market capitalization of $74.17 billion, a P/E ratio of 29.79, a price-to-earnings-growth ratio of 1.62 and a beta of 1.42. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.92 and a current ratio of 0.92. Brookfield Asset Management Ltd. has a 52-week low of $41.78 and a 52-week high of $64.10. The business has a 50-day simple moving average of $50.72 and a two-hundred day simple moving average of $53.64.

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

Brookfield Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be issued a dividend of $0.5025 per share. This represents a $2.01 annualized dividend and a yield of 4.4%. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.44. The ex-dividend date is Friday, February 27th. Brookfield Asset Management’s dividend payout ratio is currently 132.24%.

Analyst Upgrades and Downgrades

BAM has been the subject of a number of research reports. Morgan Stanley set a $63.00 price objective on Brookfield Asset Management in a research note on Tuesday, February 17th. JPMorgan Chase & Co. boosted their price objective on Brookfield Asset Management from $68.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Royal Bank Of Canada set a $74.00 target price on Brookfield Asset Management and gave the stock an “outperform” rating in a research report on Monday, December 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Brookfield Asset Management in a report on Monday, December 22nd. Finally, Zacks Research raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $63.65.

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.