North Dakota State Investment Board Invests $705,000 in Brookfield Asset Management Ltd. $BAM

North Dakota State Investment Board bought a new position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the 4th quarter, Holdings Channel reports. The firm bought 13,463 shares of the financial services provider’s stock, valued at approximately $705,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Truist Financial Corp boosted its holdings in shares of Brookfield Asset Management by 1.4% in the 3rd quarter. Truist Financial Corp now owns 13,240 shares of the financial services provider’s stock worth $754,000 after acquiring an additional 187 shares in the last quarter. Focus Financial Network Inc. boosted its holdings in shares of Brookfield Asset Management by 4.6% in the 4th quarter. Focus Financial Network Inc. now owns 4,436 shares of the financial services provider’s stock worth $232,000 after acquiring an additional 194 shares in the last quarter. Cullen Frost Bankers Inc. boosted its holdings in shares of Brookfield Asset Management by 38.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 846 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 233 shares in the last quarter. Kraematon Investment Advisors Inc. boosted its holdings in shares of Brookfield Asset Management by 2.0% in the 4th quarter. Kraematon Investment Advisors Inc. now owns 12,073 shares of the financial services provider’s stock worth $632,000 after acquiring an additional 234 shares in the last quarter. Finally, Integrated Wealth Concepts LLC boosted its holdings in shares of Brookfield Asset Management by 3.2% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 7,578 shares of the financial services provider’s stock worth $431,000 after acquiring an additional 238 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BAM has been the topic of several recent analyst reports. Morgan Stanley reduced their target price on Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. Weiss Ratings downgraded Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 15th. Wall Street Zen downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. UBS Group set a $52.00 price objective on Brookfield Asset Management in a report on Friday, February 20th. Finally, Zacks Research downgraded Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a report on Friday, March 20th. 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $60.21.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock opened at $48.54 on Friday. The company has a market capitalization of $79.52 billion, a PE ratio of 31.52, a PEG ratio of 1.95 and a beta of 1.28. Brookfield Asset Management Ltd. has a 12 month low of $42.20 and a 12 month high of $64.10. 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 fifty day simple moving average is $46.20 and its 200 day simple moving average is $49.72.

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 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. The business 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%. On average, research analysts predict that Brookfield Asset Management Ltd. will post 1.74 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm 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 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Friday, May 29th. Brookfield Asset Management’s dividend payout ratio (DPR) 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.