CIBC Asset Management Inc Purchases 2,415,593 Shares of Brookfield Asset Management Ltd. $BAM

CIBC Asset Management Inc lifted its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 99.1% during the fourth quarter, HoldingsChannel reports. The firm owned 4,853,861 shares of the financial services provider’s stock after acquiring an additional 2,415,593 shares during the quarter. CIBC Asset Management Inc’s holdings in Brookfield Asset Management were worth $255,449,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Brookfield Asset Management by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 17,723,182 shares of the financial services provider’s stock worth $928,414,000 after acquiring an additional 297,790 shares in the last quarter. Principal Financial Group Inc. grew its stake in Brookfield Asset Management by 7.3% in the fourth quarter. Principal Financial Group Inc. now owns 7,863,457 shares of the financial services provider’s stock valued at $411,972,000 after purchasing an additional 533,639 shares in the last quarter. Norges Bank bought a new position in shares of Brookfield Asset Management in the 4th quarter valued at about $263,444,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Brookfield Asset Management by 88,805.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,725,314 shares of the financial services provider’s stock valued at $247,559,000 after acquiring an additional 4,719,999 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Brookfield Asset Management by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 4,604,648 shares of the financial services provider’s stock worth $245,497,000 after acquiring an additional 310,049 shares during the period. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

Shares of BAM opened at $47.76 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38. Brookfield Asset Management Ltd. has a 1 year low of $42.20 and a 1 year high of $64.10. The business has a 50-day moving average of $46.88 and a 200-day moving average of $49.46. The company has a market capitalization of $78.23 billion, a price-to-earnings ratio of 31.01, a price-to-earnings-growth ratio of 1.93 and a beta of 1.26.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.02. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. As a group, equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.75 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. 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. Wall Street Zen downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Morgan Stanley decreased their price target on Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 21st. Weiss Ratings cut shares of Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 15th. Finally, UBS Group set a $52.00 price target on Brookfield Asset Management in a report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Brookfield Asset Management currently has a consensus 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.