The Manufacturers Life Insurance Company Grows Position in Brookfield Asset Management Ltd. $BAM

The Manufacturers Life Insurance Company lifted its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 25.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,218,119 shares of the financial services provider’s stock after purchasing an additional 857,994 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.26% of Brookfield Asset Management worth $232,402,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd boosted its position in Brookfield Asset Management by 1,270.6% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 432 shares during the period. Manchester Capital Management LLC lifted its stake in shares of Brookfield Asset Management by 559.5% during the second quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 442 shares in the last quarter. Sagard Holdings Management Inc. purchased a new stake in shares of Brookfield Asset Management in the second quarter worth about $39,000. Truvestments Capital LLC boosted its position in shares of Brookfield Asset Management by 85.5% in the first quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider’s stock worth $45,000 after buying an additional 432 shares during the period. Finally, First Horizon Advisors Inc. grew its stake in shares of Brookfield Asset Management by 127.7% in the second quarter. First Horizon Advisors Inc. now owns 995 shares of the financial services provider’s stock valued at $55,000 after buying an additional 558 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BAM shares. UBS Group set a $59.00 target price on shares of Brookfield Asset Management in a research report on Thursday. Royal Bank Of Canada increased their price objective on shares of Brookfield Asset Management from $74.00 to $76.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Bank of America downgraded shares of Brookfield Asset Management from a “buy” rating to a “neutral” rating and set a $68.00 target price for the company. in a research report on Thursday, September 4th. National Bankshares reduced their price target on shares of Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating on the stock in a research report on Monday, October 27th. Finally, Keefe, Bruyette & Woods decreased their price target on Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating for the company in a research note on Monday, November 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.98.

Brookfield Asset Management Stock Performance

Shares of NYSE BAM opened at $55.71 on Thursday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.05. The firm’s 50-day moving average price is $53.88 and its two-hundred day moving average price is $56.78. Brookfield Asset Management Ltd. has a 52-week low of $41.78 and a 52-week high of $64.10. The stock has a market capitalization of $91.24 billion, a P/E ratio of 34.82, a P/E/G ratio of 2.02 and a beta of 1.39.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Friday, November 7th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.34 billion. Brookfield Asset Management had a return on equity of 33.77% and a net margin of 58.25%. As a group, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th will be given a dividend of $0.4375 per share. The ex-dividend date is Friday, November 28th. This represents a $1.75 annualized dividend and a dividend yield of 3.1%. Brookfield Asset Management’s payout ratio is currently 109.38%.

Brookfield Asset Management 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.