Brookfield Asset Management Ltd. $BAM Shares Purchased by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund grew its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 300.0% in the fourth quarter, Holdings Channel reports. The fund owned 800,000 shares of the financial services provider’s stock after purchasing an additional 600,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Brookfield Asset Management were worth $41,912,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of BAM. Zions Bancorporation National Association UT increased its stake in shares of Brookfield Asset Management by 241.3% in the 4th quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 345 shares during the last quarter. LOM Asset Management Ltd acquired a new stake in shares of Brookfield Asset Management in the 4th quarter worth $31,000. eCIO Inc. acquired a new stake in shares of Brookfield Asset Management in the 4th quarter worth $42,000. Assetmark Inc. increased its stake in shares of Brookfield Asset Management by 95.9% in the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 395 shares during the last quarter. Finally, Cary Street Partners Financial LLC increased its stake 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 acquiring an additional 562 shares during the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BAM has been the subject of a number of recent research reports. The Goldman Sachs Group cut their target price on 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. Canadian Imperial Bank of Commerce set a $62.50 target price on Brookfield Asset Management in a research note on Monday, May 11th. Piper Sandler reaffirmed a “neutral” rating and issued a $50.00 target price (up from $48.00) on shares of Brookfield Asset Management in a research note on Monday, May 18th. Scotiabank reaffirmed an “outperform” rating and issued a $57.00 target price (up from $56.00) on shares of Brookfield Asset Management in a research note on Monday, May 11th. Finally, Weiss Ratings downgraded Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 15th. One 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $60.21.

Brookfield Asset Management Stock Performance

NYSE BAM opened at $47.09 on Monday. The stock has a market cap of $77.14 billion, a PE ratio of 30.58, a P/E/G ratio of 1.89 and a beta of 1.26. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.34. Brookfield Asset Management Ltd. has a twelve month low of $42.20 and a twelve month high of $64.10. The stock has a fifty day simple moving average of $47.42 and a 200-day simple moving average of $49.17.

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

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.5025 per share. The ex-dividend date is Friday, May 29th. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.3%. Brookfield Asset Management’s dividend payout ratio is currently 130.52%.

Brookfield Asset Management Company 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.