GatePass Capital LLC Takes $728,000 Position in Brookfield Asset Management Ltd. $BAM

GatePass Capital LLC purchased a new position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 13,900 shares of the financial services provider’s stock, valued at approximately $728,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. LOM Asset Management Ltd acquired a new stake in Brookfield Asset Management during the 4th quarter valued at approximately $31,000. eCIO Inc. acquired a new stake in Brookfield Asset Management in the fourth quarter valued at $42,000. Assetmark Inc. boosted its stake 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 last quarter. Cary Street Partners Financial LLC increased its position in shares of Brookfield Asset Management by 227.5% in the 3rd quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 562 shares during the last quarter. Finally, Cullen Frost Bankers Inc. raised its stake in shares of Brookfield Asset Management by 38.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 846 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 233 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Up 0.1%

NYSE:BAM opened at $47.96 on Tuesday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average of $46.36 and a 200-day moving average of $49.63. The firm has a market capitalization of $78.56 billion, a PE ratio of 31.14, a price-to-earnings-growth ratio of 1.95 and a beta of 1.28. Brookfield Asset Management Ltd. has a 52 week low of $42.20 and a 52 week high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.02. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%.The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.43 billion. Analysts predict that Brookfield Asset Management Ltd. will post 1.74 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be paid a $0.5025 dividend. This represents a $2.01 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Friday, May 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 130.52%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BAM. Wall Street Zen downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Royal Bank Of Canada decreased their target price on Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday, May 11th. Zacks Research cut Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 20th. BMO Capital Markets upgraded shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 5th. Finally, Canadian Imperial Bank of Commerce set a $62.50 target price on shares of Brookfield Asset Management in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Asset Management currently has an average rating of “Hold” and an average price target of $60.21.

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.