O Shaughnessy Asset Management LLC Boosts Stake in Brookfield Asset Management Ltd. $BAM

O Shaughnessy Asset Management LLC lifted its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 29.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,218 shares of the financial services provider’s stock after purchasing an additional 36,553 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Brookfield Asset Management were worth $8,341,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Brookfield Asset Management by 72.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,904,677 shares of the financial services provider’s stock worth $222,161,000 after purchasing an additional 1,642,375 shares in the last quarter. Vanguard Group Inc. raised its holdings in Brookfield Asset Management by 1.5% during the third quarter. Vanguard Group Inc. now owns 17,425,392 shares of the financial services provider’s stock valued at $991,677,000 after acquiring an additional 253,789 shares during the period. Cumberland Partners Ltd raised its holdings in Brookfield Asset Management by 78.0% during the third quarter. Cumberland Partners Ltd now owns 126,015 shares of the financial services provider’s stock valued at $7,168,000 after acquiring an additional 55,225 shares during the period. Hillsdale Investment Management Inc. lifted its position in shares of Brookfield Asset Management by 65.6% in the third quarter. Hillsdale Investment Management Inc. now owns 254,212 shares of the financial services provider’s stock valued at $14,463,000 after acquiring an additional 100,713 shares in the last quarter. Finally, Fiera Capital Corp lifted its position in shares of Brookfield Asset Management by 21.7% in the third quarter. Fiera Capital Corp now owns 184,728 shares of the financial services provider’s stock valued at $10,509,000 after acquiring an additional 32,923 shares in the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on BAM. Scotiabank reiterated an “outperform” rating and set a $57.00 target price (up from $56.00) on shares of Brookfield Asset Management in a research report on Monday, May 11th. JPMorgan Chase & Co. lowered their price target on Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating on the stock in a report on Wednesday, May 6th. Morgan Stanley cut 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. Zacks Research cut shares of Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 20th. Finally, Royal Bank Of Canada lowered their target price 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. One research 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 given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $60.21.

Brookfield Asset Management Trading Down 3.1%

Shares of BAM stock opened at $45.71 on Thursday. 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 has a market capitalization of $74.87 billion, a price-to-earnings ratio of 29.68, a price-to-earnings-growth ratio of 1.89 and a beta of 1.26. Brookfield Asset Management Ltd. has a 12-month low of $42.20 and a 12-month high of $64.10. The stock’s 50-day moving average price is $47.31 and its 200-day moving average price is $49.23.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced 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 company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.43 billion. Equities research analysts predict that Brookfield Asset Management Ltd. will post 1.75 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

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