Cumberland Partners Ltd Has $7.17 Million Stock Position in Brookfield Asset Management Ltd. $BAM

Cumberland Partners Ltd boosted its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 78.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 126,015 shares of the financial services provider’s stock after acquiring an additional 55,225 shares during the quarter. Cumberland Partners Ltd’s holdings in Brookfield Asset Management were worth $7,168,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of BAM. Vanguard Group Inc. lifted its position in shares of Brookfield Asset Management by 1.5% in the third quarter. Vanguard Group Inc. now owns 17,425,392 shares of the financial services provider’s stock worth $991,677,000 after purchasing an additional 253,789 shares in the last quarter. Mackenzie Financial Corp increased its stake in Brookfield Asset Management by 2.5% in the 2nd quarter. Mackenzie Financial Corp now owns 11,400,930 shares of the financial services provider’s stock valued at $631,412,000 after buying an additional 282,853 shares during the period. Norges Bank purchased a new stake in Brookfield Asset Management in the 2nd quarter worth approximately $294,730,000. The Manufacturers Life Insurance Company boosted its stake in shares of Brookfield Asset Management by 25.5% during 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, Geode Capital Management LLC grew its holdings 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 valued at $208,571,000 after acquiring an additional 1,443,441 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Up 0.6%

Shares of BAM stock opened at $52.47 on Thursday. The stock’s 50 day simple moving average is $52.25 and its 200 day simple moving average is $55.02. Brookfield Asset Management Ltd. has a twelve month low of $41.78 and a twelve month high of $64.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $85.94 billion, a price-to-earnings ratio of 34.52, a PEG ratio of 1.92 and a beta of 1.40.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results 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. Brookfield Asset Management had a return on equity of 29.67% and a net margin of 51.59%.The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.40 billion. As a group, research analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend 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 currently 115.13%.

Analysts Set New Price Targets

Several brokerages recently issued reports on BAM. National Bank Financial cut their price objective on Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating for the company in a report on Monday, October 27th. JPMorgan Chase & Co. raised their price target on Brookfield Asset Management from $68.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Keefe, Bruyette & Woods lowered their price target on Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating for the company in a research note on Monday, November 10th. Loop Capital set a $60.00 price objective on shares of Brookfield Asset Management in a research report on Tuesday, January 6th. Finally, Wall Street Zen upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $64.00.

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.