14,548 Shares in Brookfield Asset Management Ltd. $BAM Purchased by Griffin Asset Management Inc.

Griffin Asset Management Inc. purchased a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 14,548 shares of the financial services provider’s stock, valued at approximately $762,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Leonteq Securities AG purchased a new stake in Brookfield Asset Management in the 4th quarter valued at approximately $323,000. Partners Group Holding AG purchased a new stake in Brookfield Asset Management in the 4th quarter valued at approximately $12,152,000. Cullen Frost Bankers Inc. boosted its holdings in Brookfield Asset Management by 29.6% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,096 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 250 shares in the last quarter. Harvest Portfolios Group Inc. purchased a new stake in Brookfield Asset Management in the 4th quarter valued at approximately $3,137,000. Finally, Radnor Capital Management LLC boosted its holdings in Brookfield Asset Management by 237.6% in the 4th quarter. Radnor Capital Management LLC now owns 28,239 shares of the financial services provider’s stock valued at $1,479,000 after purchasing an additional 19,874 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock opened at $48.54 on Friday. The firm has a market cap of $79.52 billion, a PE ratio of 31.52, a price-to-earnings-growth ratio of 1.95 and a beta of 1.28. The firm’s 50-day simple moving average is $46.20 and its 200-day simple moving average is $49.72. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.38 and a current ratio of 1.38. 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, topping the consensus estimate of $0.41 by $0.02. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.43 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. 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. Investors of record on Friday, May 29th will be paid a dividend of $0.5025 per share. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Friday, May 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 130.52%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Royal Bank Of Canada decreased their price target 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. Zacks Research lowered Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 20th. Canadian Imperial Bank of Commerce set a $62.50 price target on Brookfield Asset Management in a research note on Monday, May 11th. Scotiabank reissued an “outperform” rating and set a $57.00 price target (up from $56.00) on shares of Brookfield Asset Management in a research note on Monday, May 11th. Finally, Weiss Ratings lowered Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 15th. One research 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 given a Sell rating to the company. According to MarketBeat, Brookfield Asset Management presently has a consensus rating of “Hold” and an average target price of $60.21.

Brookfield Asset Management 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.