Geode Capital Management LLC Buys 310,049 Shares of Brookfield Asset Management Ltd. $BAM

Geode Capital Management LLC increased its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 7.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,604,648 shares of the financial services provider’s stock after acquiring an additional 310,049 shares during the quarter. Geode Capital Management LLC’s holdings in Brookfield Asset Management were worth $245,497,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. GatePass Capital LLC bought a new stake in shares of Brookfield Asset Management in the 4th quarter valued at $728,000. Summitry LLC increased its stake in Brookfield Asset Management by 6.4% during the 4th quarter. Summitry LLC now owns 162,090 shares of the financial services provider’s stock valued at $8,492,000 after purchasing an additional 9,709 shares in the last quarter. Cooke & Bieler LP increased its stake in Brookfield Asset Management by 48.6% during the 4th quarter. Cooke & Bieler LP now owns 2,001,903 shares of the financial services provider’s stock valued at $104,880,000 after purchasing an additional 655,009 shares in the last quarter. Fisher Asset Management LLC increased its stake in Brookfield Asset Management by 44.2% during the 4th quarter. Fisher Asset Management LLC now owns 5,223 shares of the financial services provider’s stock valued at $274,000 after purchasing an additional 1,602 shares in the last quarter. Finally, Nicola Wealth Management LTD. increased its stake in Brookfield Asset Management by 16.3% during the 4th quarter. Nicola Wealth Management LTD. now owns 251,758 shares of the financial services provider’s stock valued at $13,190,000 after purchasing an additional 35,200 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

NYSE BAM opened at $47.76 on Wednesday. Brookfield Asset Management Ltd. has a 1 year low of $42.20 and a 1 year high of $64.10. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a market cap of $78.23 billion, a price-to-earnings ratio of 31.01, a PEG ratio of 1.93 and a beta of 1.26. The company has a fifty day moving average price of $46.88 and a 200-day moving average price of $49.46.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its 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 net margin of 49.69% and a return on equity of 30.66%. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.43 billion. As a group, equities research analysts predict that Brookfield Asset Management Ltd. will post 1.75 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

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

Wall Street Analyst Weigh In

BAM has been the subject of a number of recent research reports. 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. JPMorgan Chase & Co. decreased their price target on shares of Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. Zacks Research lowered shares of Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 20th. The Goldman Sachs Group decreased their price target on shares of Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Finally, Wall Street Zen lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. One equities 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 given a Sell rating to the company. Based on data from MarketBeat, Brookfield Asset Management presently has an average rating of “Hold” and a consensus 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.