Cooke & Bieler LP Purchases 92,246 Shares of Brookfield Asset Management Ltd. $BAM

Cooke & Bieler LP lifted its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 7.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,346,894 shares of the financial services provider’s stock after buying an additional 92,246 shares during the period. Cooke & Bieler LP’s holdings in Brookfield Asset Management were worth $76,692,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC acquired a new stake in Brookfield Asset Management in the first quarter valued at approximately $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Brookfield Asset Management by 10.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,050 shares of the financial services provider’s stock valued at $12,648,000 after purchasing an additional 24,013 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Brookfield Asset Management by 14.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 11,619 shares of the financial services provider’s stock valued at $642,000 after purchasing an additional 1,436 shares during the last quarter. Signaturefd LLC boosted its position in shares of Brookfield Asset Management by 57.9% in the 2nd quarter. Signaturefd LLC now owns 6,647 shares of the financial services provider’s stock worth $367,000 after purchasing an additional 2,438 shares in the last quarter. Finally, Avior Wealth Management LLC grew its stake in Brookfield Asset Management by 2,106.9% during the 2nd quarter. Avior Wealth Management LLC now owns 7,724 shares of the financial services provider’s stock worth $427,000 after buying an additional 7,374 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Morgan Stanley set a $62.00 price target on Brookfield Asset Management in a research note on Monday, October 13th. National Bankshares decreased their price objective on shares of Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating for the company in a research report on Monday, October 27th. Scotiabank lowered their target price on shares of Brookfield Asset Management from $67.25 to $65.75 and set a “sector outperform” rating for the company in a research note on Monday, November 10th. The Goldman Sachs Group cut their price target on shares of Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, January 6th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating for the company in a report on Monday, November 10th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $63.38.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM opened at $51.26 on Monday. Brookfield Asset Management Ltd. has a twelve month low of $41.78 and a twelve month high of $64.10. The company’s 50 day moving average is $52.58 and its 200 day moving average is $56.17. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.05. The company has a market cap of $83.96 billion, a PE ratio of 32.04, a price-to-earnings-growth ratio of 2.20 and a beta of 1.39.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Friday, November 7th. The financial services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Brookfield Asset Management had a net margin of 58.25% and a return on equity of 33.77%. On average, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th were issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, November 28th. Brookfield Asset Management’s dividend payout ratio is presently 109.38%.

About Brookfield Asset Management

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.