Goldman Sachs Group Inc. Boosts Holdings in Brookfield Asset Management Ltd. $BAM

Goldman Sachs Group Inc. increased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 27.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,034,379 shares of the financial services provider’s stock after purchasing an additional 440,952 shares during the period. Goldman Sachs Group Inc. owned 0.12% of Brookfield Asset Management worth $106,581,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Truist Financial Corp lifted its holdings in Brookfield Asset Management by 1.4% in the 3rd quarter. Truist Financial Corp now owns 13,240 shares of the financial services provider’s stock worth $754,000 after purchasing an additional 187 shares in the last quarter. Focus Financial Network Inc. raised its holdings in shares of Brookfield Asset Management by 4.6% during the 4th quarter. Focus Financial Network Inc. now owns 4,436 shares of the financial services provider’s stock worth $232,000 after acquiring an additional 194 shares in the last quarter. Foundations Investment Advisors LLC raised its holdings in shares of Brookfield Asset Management by 1.3% during the 4th quarter. Foundations Investment Advisors LLC now owns 17,165 shares of the financial services provider’s stock worth $899,000 after acquiring an additional 226 shares in the last quarter. Kraematon Investment Advisors Inc. raised its holdings in shares of Brookfield Asset Management by 2.0% during the 4th quarter. Kraematon Investment Advisors Inc. now owns 12,073 shares of the financial services provider’s stock worth $632,000 after acquiring an additional 234 shares in the last quarter. Finally, Integrated Wealth Concepts LLC raised its holdings in shares of Brookfield Asset Management by 3.2% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 7,578 shares of the financial services provider’s stock worth $431,000 after acquiring an additional 238 shares in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Morgan Stanley decreased their price objective on Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. The Goldman Sachs Group decreased their price objective 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. JPMorgan Chase & Co. decreased their price objective on Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating on the stock in a report on Wednesday, May 6th. Piper Sandler reaffirmed a “neutral” rating and set a $50.00 price objective (up from $48.00) on shares of Brookfield Asset Management in a report on Monday, May 18th. Finally, Scotiabank reaffirmed an “outperform” rating and set a $57.00 price objective (up from $56.00) on shares of Brookfield Asset Management in a report on Monday, May 11th. One 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 assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $60.21.

Brookfield Asset Management Stock Performance

NYSE:BAM opened at $47.14 on Wednesday. The firm has a market capitalization of $77.21 billion, a PE ratio of 30.61, a PEG ratio of 1.85 and a beta of 1.26. The stock’s fifty day moving average is $47.26 and its 200 day moving average is $49.26. Brookfield Asset Management Ltd. has a fifty-two week low of $42.20 and a fifty-two week high of $64.10. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.38 and a current ratio of 1.38.

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

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be given a $0.5025 dividend. The ex-dividend date is Friday, May 29th. This represents a $2.01 dividend on an annualized basis and a yield of 4.3%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 130.52%.

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.