Madison Asset Management LLC Acquires Shares of 1,570,419 Brookfield Asset Management Ltd. $BAM

Madison Asset Management LLC acquired a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the 2nd quarter, HoldingsChannel reports. The fund acquired 1,570,419 shares of the financial services provider’s stock, valued at approximately $70,433,000.

A number of other hedge funds have also recently modified their holdings of the stock. Trust Co. of Vermont purchased a new position in Brookfield Asset Management during the second quarter valued at approximately $25,000. Zions Bancorporation National Association UT boosted its position in 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 purchasing an additional 345 shares in the last quarter. Allied Private Wealth LLC acquired a new stake in shares of Brookfield Asset Management during the 2nd quarter worth approximately $40,000. Allworth Financial LP increased its holdings in shares of Brookfield Asset Management by 47.8% during the 4th quarter. Allworth Financial LP now owns 1,029 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 333 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of Brookfield Asset Management by 709.8% during the 4th quarter. Fifth Third Bancorp now owns 1,069 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 937 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Scotiabank reissued an “outperform” rating and set a $59.00 price target on shares of Brookfield Asset Management in a report on Thursday, August 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Brookfield Asset Management in a report on Wednesday, August 12th. Wall Street Zen upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Scotia increased their target price on shares of Brookfield Asset Management from $57.00 to $59.00 and gave the stock a “sector outperform” rating in a research note on Thursday, August 6th. Finally, Piper Sandler reissued a “neutral” rating and set a $50.00 target price (up from $48.00) on shares of Brookfield Asset Management in a research note on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Brookfield Asset Management presently has a consensus rating of “Hold” and a consensus target price of $59.32.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM opened at $52.66 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75. The business’s 50 day moving average price is $48.46 and its 200-day moving average price is $47.74. The firm has a market capitalization of $86.26 billion, a PE ratio of 30.61, a P/E/G ratio of 2.11 and a beta of 1.26. Brookfield Asset Management Ltd. has a 1 year low of $42.20 and a 1 year high of $62.57.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.47 billion. Brookfield Asset Management had a return on equity of 31.50% and a net margin of 48.89%. As a group, equities research analysts expect that Brookfield Asset Management Ltd. will post 1.78 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a $0.5025 dividend. This represents a $2.01 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Monday, August 31st. Brookfield Asset Management’s dividend payout ratio is 116.86%.

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.