North Dakota State Investment Board Buys Shares of 13,463 Brookfield Asset Management Ltd. $BAM

North Dakota State Investment Board acquired a new position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 13,463 shares of the financial services provider’s stock, valued at approximately $705,000.

A number of other institutional investors have also made changes to their positions in BAM. Northwestern Mutual Wealth Management Co. increased its stake in shares of Brookfield Asset Management by 88,805.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,725,314 shares of the financial services provider’s stock worth $247,559,000 after purchasing an additional 4,719,999 shares during the period. State Street Corp increased its stake in shares of Brookfield Asset Management by 11,172.2% in the second quarter. State Street Corp now owns 3,524,700 shares of the financial services provider’s stock worth $194,845,000 after purchasing an additional 3,493,431 shares during the period. Legal & General Group Plc increased its stake in shares of Brookfield Asset Management by 2,834.0% in the third quarter. Legal & General Group Plc now owns 2,365,709 shares of the financial services provider’s stock worth $134,659,000 after purchasing an additional 2,285,077 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Brookfield Asset Management by 72.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,904,677 shares of the financial services provider’s stock worth $222,161,000 after purchasing an additional 1,642,375 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in shares of Brookfield Asset Management by 55.0% in the second quarter. Canada Pension Plan Investment Board now owns 1,699,374 shares of the financial services provider’s stock worth $94,117,000 after purchasing an additional 602,962 shares during the period. 68.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BAM. Morgan Stanley dropped their price objective on Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 21st. UBS Group set a $52.00 price objective on Brookfield Asset Management in a research note on Friday, February 20th. Piper Sandler reiterated a “neutral” rating and issued a $50.00 price objective (up from $48.00) on shares of Brookfield Asset Management in a research note on Monday. Royal Bank Of Canada dropped their price objective on Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating on the stock in a research note on Monday, May 11th. Finally, Wall Street Zen lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $60.21.

Brookfield Asset Management Stock Up 1.0%

NYSE BAM opened at $48.54 on Friday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.34. The stock’s 50 day moving average is $46.20 and its two-hundred day moving average is $49.72. The company has a market capitalization of $79.52 billion, a price-to-earnings ratio of 31.52, a PEG ratio of 1.95 and a beta of 1.28. Brookfield Asset Management Ltd. has a 1-year low of $42.20 and a 1-year high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.43 billion. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%. Equities analysts forecast that Brookfield Asset Management Ltd. will post 1.74 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.5025 per share. This represents a $2.01 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Friday, May 29th. Brookfield Asset Management’s payout ratio is presently 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.