Cibc World Market Inc. Purchases 1,092,851 Shares of Brookfield Asset Management Ltd. $BAM

Cibc World Market Inc. increased its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 33.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,312,939 shares of the financial services provider’s stock after buying an additional 1,092,851 shares during the period. Cibc World Market Inc.’s holdings in Brookfield Asset Management were worth $225,955,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. LOM Asset Management Ltd purchased a new stake in Brookfield Asset Management during the fourth quarter worth about $31,000. eCIO Inc. purchased a new stake in Brookfield Asset Management during the fourth quarter worth about $42,000. Assetmark Inc. increased its holdings 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 during the last quarter. Cary Street Partners Financial LLC increased its holdings 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 during the last quarter. Finally, Allworth Financial LP increased its holdings 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 during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BAM shares. Morgan Stanley decreased their price objective on shares of Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating for the company in a report on Tuesday, April 21st. Royal Bank Of Canada decreased their price objective on shares of Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating for the company in a report on Monday, May 11th. BMO Capital Markets upgraded shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Wall Street Zen downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, The Goldman Sachs Group decreased their price objective on shares of Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $60.21.

Brookfield Asset Management Price Performance

BAM opened at $45.22 on Thursday. The company has a market capitalization of $74.08 billion, a price-to-earnings ratio of 29.37, a PEG ratio of 1.92 and a beta of 1.26. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average price of $47.01 and a 200-day moving average price of $49.37. Brookfield Asset Management Ltd. has a twelve month low of $42.20 and a twelve month high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results 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 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%. Equities analysts expect that Brookfield Asset Management Ltd. will post 1.75 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be paid a $0.5025 dividend. The ex-dividend date is Friday, May 29th. This represents a $2.01 annualized dividend and a dividend yield of 4.4%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 130.52%.

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.