Intech Investment Management LLC Acquires 30,122 Shares of Brookfield Asset Management Ltd. $BAM

Intech Investment Management LLC increased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 350.3% during the third quarter, Holdings Channel.com reports. The firm owned 38,722 shares of the financial services provider’s stock after acquiring an additional 30,122 shares during the quarter. Intech Investment Management LLC’s holdings in Brookfield Asset Management were worth $2,204,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BAM. Manchester Capital Management LLC boosted its position in Brookfield Asset Management by 559.5% during the second quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock valued at $29,000 after buying an additional 442 shares during the period. Sagard Holdings Management Inc. bought a new stake in shares of Brookfield Asset Management in the 2nd quarter valued at about $39,000. Assetmark Inc. boosted its holdings in 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 acquiring an additional 395 shares during the period. Cary Street Partners Financial LLC boosted its holdings 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 valued at $46,000 after acquiring an additional 562 shares during the period. Finally, GAMMA Investing LLC increased its stake in Brookfield Asset Management by 93.3% in the 3rd quarter. GAMMA Investing LLC now owns 831 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 401 shares during the period. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Trading Down 1.2%

NYSE:BAM opened at $46.56 on Wednesday. The company has a 50-day moving average price of $51.42 and a 200-day moving average price of $54.13. The stock has a market cap of $76.26 billion, a price-to-earnings ratio of 30.63, a P/E/G ratio of 1.66 and a beta of 1.42. 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 Ltd. has a 12 month low of $41.78 and a 12 month high of $64.10.

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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.67%. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.40 billion. Equities 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 announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be paid a $0.5025 dividend. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, February 27th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.44. Brookfield Asset Management’s dividend payout ratio (DPR) is 132.24%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods dropped 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. BMO Capital Markets raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. Morgan Stanley set a $63.00 price objective on shares of Brookfield Asset Management in a research report on Tuesday, February 17th. Wall Street Zen raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Finally, Scotiabank set a $64.00 target price on Brookfield Asset Management and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Brookfield Asset Management currently has an average rating of “Moderate Buy” and an average target price of $63.65.

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.