Alberta Investment Management Corp Invests $27.83 Million in Brookfield Asset Management Ltd. $BAM

Alberta Investment Management Corp purchased a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 531,167 shares of the financial services provider’s stock, valued at approximately $27,825,000.

A number of other large investors have also recently made changes to their positions in the stock. TritonPoint Partners LLC purchased a new stake in shares of Brookfield Asset Management during the fourth quarter valued at $393,000. MML Investors Services LLC grew its holdings in shares of Brookfield Asset Management by 10.3% during the fourth quarter. MML Investors Services LLC now owns 22,071 shares of the financial services provider’s stock valued at $1,156,000 after buying an additional 2,068 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Brookfield Asset Management by 300.0% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 800,000 shares of the financial services provider’s stock valued at $41,912,000 after buying an additional 600,000 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in shares of Brookfield Asset Management during the fourth quarter valued at $986,000. Finally, Entropy Technologies LP grew its holdings in shares of Brookfield Asset Management by 34.7% during the fourth quarter. Entropy Technologies LP now owns 61,124 shares of the financial services provider’s stock valued at $3,202,000 after buying an additional 15,744 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Trading Up 2.2%

Shares of Brookfield Asset Management stock opened at $48.15 on Tuesday. The firm has a 50-day simple moving average of $47.49 and a two-hundred day simple moving average of $49.15. The company has a market cap of $78.88 billion, a P/E ratio of 31.27, a price-to-earnings-growth ratio of 1.89 and a beta of 1.26. Brookfield Asset Management Ltd. has a fifty-two week low of $42.20 and a fifty-two week high of $64.10. 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 (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.43 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. As a group, equities analysts predict that Brookfield Asset Management Ltd. will post 1.75 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be given a dividend of $0.5025 per share. This represents a $2.01 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Friday, May 29th. Brookfield Asset Management’s dividend payout ratio is 130.52%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BAM shares. Zacks Research lowered shares of Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a report on Friday, March 20th. JPMorgan Chase & Co. lowered their price target on shares of Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating on the stock in a report on Wednesday, May 6th. Royal Bank Of Canada lowered their price target on shares of Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating on the stock in a report on Monday, May 11th. Canadian Imperial Bank of Commerce set a $62.50 price target on shares of Brookfield Asset Management in a report on Monday, May 11th. Finally, Scotiabank reaffirmed an “outperform” rating and issued a $57.00 price target (up from $56.00) on shares of Brookfield Asset Management in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.