Cardinal Capital Management Inc. Invests $3.80 Million in Brookfield Asset Management Ltd. $BAM

Cardinal Capital Management Inc. acquired a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 84,812 shares of the financial services provider’s stock, valued at approximately $3,797,000.

A number of other large investors have also made changes to their positions in BAM. Vanguard Group Inc. increased its position in Brookfield Asset Management by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 17,723,182 shares of the financial services provider’s stock worth $928,414,000 after purchasing an additional 297,790 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Brookfield Asset Management by 2.0% during the 4th quarter. TD Asset Management Inc now owns 15,769,066 shares of the financial services provider’s stock worth $827,135,000 after purchasing an additional 315,036 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Brookfield Asset Management by 62.0% during the first quarter. Principal Financial Group Inc. now owns 12,735,547 shares of the financial services provider’s stock worth $566,092,000 after buying an additional 4,872,090 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Brookfield Asset Management by 15.6% during the first quarter. The Manufacturers Life Insurance Company now owns 5,319,506 shares of the financial services provider’s stock worth $236,308,000 after buying an additional 716,892 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Brookfield Asset Management during the fourth quarter valued at approximately $263,444,000. Institutional investors and hedge funds own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Scotiabank restated an “outperform” rating and set a $59.00 target price on shares of Brookfield Asset Management in a research report on Thursday, August 6th. Morgan Stanley set a $56.00 price target on Brookfield Asset Management and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. Weiss Ratings cut Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 15th. JPMorgan Chase & Co. lowered their price objective on Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. Finally, UBS Group upped their target price on Brookfield Asset Management from $48.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Asset Management currently has a consensus rating of “Hold” and an average price target of $59.50.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock opened at $55.30 on Wednesday. Brookfield Asset Management Ltd. has a 1 year low of $42.20 and a 1 year high of $63.37. The firm has a 50 day moving average price of $47.57 and a 200 day moving average price of $47.64. The company has a market cap of $90.60 billion, a price-to-earnings ratio of 32.15, a PEG ratio of 2.19 and a beta of 1.26. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.38 and a current ratio of 1.38.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.47 billion. Brookfield Asset Management had a net margin of 48.89% and a return on equity of 31.78%. Sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.76 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.5025 per share. This represents a $2.01 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, August 31st. Brookfield Asset Management’s dividend payout ratio is presently 116.86%.

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.