Fiera Capital Corp Increases Holdings in Brookfield Asset Management Ltd. $BAM

Fiera Capital Corp raised its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 78.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 330,204 shares of the financial services provider’s stock after buying an additional 145,476 shares during the quarter. Fiera Capital Corp’s holdings in Brookfield Asset Management were worth $17,303,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. LOM Asset Management Ltd purchased a new position in Brookfield Asset Management during the fourth quarter worth about $31,000. eCIO Inc. purchased a new position in Brookfield Asset Management during the fourth quarter worth about $42,000. Assetmark Inc. grew its position in Brookfield Asset Management by 95.9% during the third quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock worth $46,000 after buying an additional 395 shares in the last quarter. Cary Street Partners Financial LLC grew its position in Brookfield Asset Management by 227.5% during the third quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock worth $46,000 after buying an additional 562 shares in the last quarter. Finally, Allworth Financial LP grew its position in Brookfield Asset Management by 47.8% during the fourth quarter. Allworth Financial LP now owns 1,029 shares of the financial services provider’s stock worth $54,000 after buying an additional 333 shares in the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Trading Down 0.5%

BAM opened at $45.94 on Tuesday. The business has a 50 day simple moving average of $47.18 and a two-hundred day simple moving average of $49.28. The firm has a market capitalization of $75.25 billion, a price-to-earnings ratio of 29.83, a PEG ratio of 1.85 and a beta of 1.26. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38. Brookfield Asset Management Ltd. has a one year low of $42.20 and a one year high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%.The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.43 billion. Analysts predict that Brookfield Asset Management Ltd. will post 1.75 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently announced 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. The ex-dividend date is Friday, May 29th. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.4%. Brookfield Asset Management’s dividend payout ratio is 130.52%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Royal Bank Of Canada reduced their target price on Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday, May 11th. UBS Group set a $52.00 price target on Brookfield Asset Management in a research note on Friday, February 20th. Canadian Imperial Bank of Commerce set a $62.50 price target on Brookfield Asset Management in a research note on Monday, May 11th. Wall Street Zen lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, JPMorgan Chase & Co. dropped their price target on Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $60.21.

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.