New York State Common Retirement Fund Raises Stake in Brookfield Asset Management Ltd. $BAM

New York State Common Retirement Fund lifted its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 18.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 465,600 shares of the financial services provider’s stock after buying an additional 72,600 shares during the period. New York State Common Retirement Fund’s holdings in Brookfield Asset Management were worth $26,511,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BAM. Caitong International Asset Management Co. Ltd lifted its stake in shares of Brookfield Asset Management by 1,270.6% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 432 shares during the period. Manchester Capital Management LLC lifted its position in Brookfield Asset Management by 559.5% during the second quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock worth $29,000 after buying an additional 442 shares during the period. Sagard Holdings Management Inc. purchased a new position in Brookfield Asset Management during the second quarter worth about $39,000. GAMMA Investing LLC boosted its stake in Brookfield Asset Management by 93.3% in the 3rd quarter. GAMMA Investing LLC now owns 831 shares of the financial services provider’s stock worth $47,000 after buying an additional 401 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its holdings in Brookfield Asset Management by 1,123.5% in the 3rd quarter. TD Private Client Wealth LLC now owns 832 shares of the financial services provider’s stock valued at $47,000 after buying an additional 764 shares during the period. 68.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BAM shares. UBS Group set a $58.00 target price on shares of Brookfield Asset Management and gave the stock a “neutral” rating in a research report on Tuesday, January 13th. Loop Capital set a $60.00 price target on shares of Brookfield Asset Management in a report on Tuesday, January 6th. The Goldman Sachs Group lowered their price objective on shares of Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, January 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Brookfield Asset Management in a research report on Monday, December 22nd. Finally, Scotiabank reduced their target price on Brookfield Asset Management from $67.25 to $65.75 and set a “sector outperform” rating on the stock in a report on Monday, November 10th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.38.

Brookfield Asset Management Stock Performance

NYSE:BAM opened at $49.70 on Friday. The firm’s fifty day simple moving average is $52.67 and its 200 day simple moving average is $55.97. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.05. Brookfield Asset Management Ltd. has a twelve month low of $41.78 and a twelve month high of $64.10. The firm has a market capitalization of $81.41 billion, a price-to-earnings ratio of 31.06, a PEG ratio of 2.15 and a beta of 1.39.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released 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 company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.34 billion. Brookfield Asset Management had a return on equity of 33.77% and a net margin of 58.25%. As a group, equities research analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, November 28th were issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Friday, November 28th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 109.38%.

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.