Intact Investment Management Inc. Purchases Shares of 132,900 Brookfield Asset Management Ltd. (NYSE:BAM)

Intact Investment Management Inc. purchased a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 132,900 shares of the financial services provider’s stock, valued at approximately $6,434,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Woodmont Investment Counsel LLC acquired a new stake in shares of Brookfield Asset Management in the first quarter worth $5,782,000. Louisbourg Investments Inc. grew its stake in shares of Brookfield Asset Management by 1.2% in the first quarter. Louisbourg Investments Inc. now owns 50,152 shares of the financial services provider’s stock worth $2,430,000 after acquiring an additional 600 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Brookfield Asset Management by 4.0% in the first quarter. Janney Montgomery Scott LLC now owns 221,222 shares of the financial services provider’s stock worth $10,718,000 after acquiring an additional 8,415 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Brookfield Asset Management by 2.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 43,002 shares of the financial services provider’s stock worth $2,083,000 after acquiring an additional 854 shares during the last quarter. Finally, Focus Financial Network Inc. grew its stake in shares of Brookfield Asset Management by 5.2% in the first quarter. Focus Financial Network Inc. now owns 4,442 shares of the financial services provider’s stock worth $215,000 after acquiring an additional 218 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

BAM has been the topic of several research analyst reports. Scotiabank raised their price objective on shares of Brookfield Asset Management from $58.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Royal Bank Of Canada initiated coverage on shares of Brookfield Asset Management in a research note on Wednesday. They issued an “outperform” rating and a $72.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of Brookfield Asset Management from $51.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. TD Securities lifted their price target on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Finally, Morgan Stanley lifted their price target on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Brookfield Asset Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.46.

Brookfield Asset Management Stock Down 0.5%

Shares of NYSE BAM opened at $54.37 on Friday. The stock has a market cap of $87.67 billion, a PE ratio of 38.56, a PEG ratio of 1.97 and a beta of 1.51. The business has a fifty day moving average of $54.81 and a two-hundred day moving average of $54.26. Brookfield Asset Management Ltd. has a 52-week low of $37.40 and a 52-week high of $62.61. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.31 and a current ratio of 1.31.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.40. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Brookfield Asset Management had a return on equity of 52.70% and a net margin of 55.26%. As a group, equities research analysts expect that Brookfield Asset Management Ltd. will post 1.7 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 Monday, June 30th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.4375 per share. The ex-dividend date is Friday, May 30th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.22%. Brookfield Asset Management’s payout ratio is presently 124.11%.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.