Brookfield Asset Management Ltd. $BAM Shares Bought by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. grew its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 277.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,039 shares of the financial services provider’s stock after purchasing an additional 14,724 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Brookfield Asset Management were worth $1,050,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Carnegie Lake Advisors LLC lifted its holdings in Brookfield Asset Management by 16.3% in the fourth quarter. Carnegie Lake Advisors LLC now owns 14,301 shares of the financial services provider’s stock valued at $749,000 after acquiring an additional 2,000 shares during the period. Foundations Investment Advisors LLC lifted its holdings in Brookfield Asset Management by 1.3% in the fourth quarter. Foundations Investment Advisors LLC now owns 17,165 shares of the financial services provider’s stock valued at $899,000 after acquiring an additional 226 shares during the period. Geode Capital Management LLC lifted its holdings in Brookfield Asset Management by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 4,604,648 shares of the financial services provider’s stock valued at $245,497,000 after acquiring an additional 310,049 shares during the period. GatePass Capital LLC acquired a new stake in Brookfield Asset Management in the fourth quarter valued at $728,000. Finally, Summitry LLC lifted its holdings in Brookfield Asset Management by 6.4% in the fourth quarter. Summitry LLC now owns 162,090 shares of the financial services provider’s stock valued at $8,492,000 after acquiring an additional 9,709 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on BAM shares. Canadian Imperial Bank of Commerce set a $62.50 target price on Brookfield Asset Management in a report on Monday, May 11th. Zacks Research downgraded Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a report on Friday, March 20th. Morgan Stanley reduced their target price on 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 reduced their target price on Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating for the company in a report on Monday, May 11th. Finally, Scotiabank reissued an “outperform” rating and issued a $57.00 target price (up from $56.00) on shares of Brookfield Asset Management in a report on Monday, May 11th. One equities 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $60.21.

Brookfield Asset Management Trading Up 0.1%

NYSE:BAM opened at $46.21 on Monday. The company has a market capitalization of $75.69 billion, a PE ratio of 30.01, a price-to-earnings-growth ratio of 1.85 and a beta of 1.26. The stock has a fifty day simple moving average of $47.14 and a 200-day simple moving average of $49.31. Brookfield Asset Management Ltd. has a 52-week low of $42.20 and a 52-week high of $64.10. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.34.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%. On average, equities research analysts expect that Brookfield Asset Management Ltd. will post 1.75 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

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 given a dividend of $0.5025 per share. This represents a $2.01 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Friday, May 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 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.