Marks Group Wealth Management Inc Has $8.36 Million Stock Holdings in Brookfield Asset Management Ltd. $BAM

Marks Group Wealth Management Inc trimmed its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 9.3% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 146,882 shares of the financial services provider’s stock after selling 15,024 shares during the period. Marks Group Wealth Management Inc’s holdings in Brookfield Asset Management were worth $8,363,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cumberland Partners Ltd raised its holdings in Brookfield Asset Management by 78.0% during the 3rd quarter. Cumberland Partners Ltd now owns 126,015 shares of the financial services provider’s stock worth $7,168,000 after purchasing an additional 55,225 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Brookfield Asset Management by 18.5% in the 3rd quarter. New York State Common Retirement Fund now owns 465,600 shares of the financial services provider’s stock valued at $26,511,000 after purchasing an additional 72,600 shares during the last quarter. Intact Investment Management Inc. grew its position in shares of Brookfield Asset Management by 127.5% during the 3rd quarter. Intact Investment Management Inc. now owns 590,560 shares of the financial services provider’s stock worth $33,612,000 after buying an additional 330,970 shares during the period. Hillsdale Investment Management Inc. raised its stake in shares of Brookfield Asset Management by 65.6% during the third quarter. Hillsdale Investment Management Inc. now owns 254,212 shares of the financial services provider’s stock worth $14,463,000 after buying an additional 100,713 shares during the last quarter. Finally, Nicola Wealth Management LTD. lifted its holdings in Brookfield Asset Management by 115.4% in the third quarter. Nicola Wealth Management LTD. now owns 216,558 shares of the financial services provider’s stock valued at $12,325,000 after buying an additional 116,000 shares during the period. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Up 1.1%

NYSE:BAM opened at $50.60 on Monday. Brookfield Asset Management Ltd. has a 1 year low of $41.78 and a 1 year high of $64.10. The stock has a 50-day moving average price of $52.10 and a two-hundred day moving average price of $54.81. The stock has a market cap of $82.88 billion, a price-to-earnings ratio of 33.29, a PEG ratio of 1.84 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 results 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. Brookfield Asset Management had a return on equity of 29.67% and a net margin of 51.59%.The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.40 billion. As a group, equities analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be issued a dividend of $0.5025 per share. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.44. The ex-dividend date is Friday, February 27th. This represents a $2.01 annualized dividend and a yield of 4.0%. Brookfield Asset Management’s dividend payout ratio is 115.13%.

Wall Street Analyst Weigh In

BAM has been the subject of a number of analyst reports. BMO Capital Markets raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Morgan Stanley set a $63.00 price target on Brookfield Asset Management in a research report on Tuesday, February 17th. Keefe, Bruyette & Woods decreased their price objective 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. National Bank Financial dropped 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. Finally, Loop Capital set a $60.00 target price on Brookfield Asset Management in a report on Tuesday, January 6th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.65.

Brookfield Asset Management 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.