Lansforsakringar Fondforvaltning AB publ Has $5.42 Million Stock Holdings in Brookfield Asset Management Ltd. $BAM

Lansforsakringar Fondforvaltning AB publ raised its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 17.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 95,240 shares of the financial services provider’s stock after purchasing an additional 13,996 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Brookfield Asset Management were worth $5,421,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Brookfield Asset Management by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 17,425,392 shares of the financial services provider’s stock valued at $991,677,000 after buying an additional 253,789 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Brookfield Asset Management by 2.5% in the 2nd quarter. Mackenzie Financial Corp now owns 11,400,930 shares of the financial services provider’s stock valued at $631,412,000 after purchasing an additional 282,853 shares in the last quarter. Norges Bank bought a new stake in shares of Brookfield Asset Management in the 2nd quarter worth about $294,730,000. The Manufacturers Life Insurance Company increased its position in shares of Brookfield Asset Management by 25.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,218,119 shares of the financial services provider’s stock worth $232,402,000 after purchasing an additional 857,994 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Brookfield Asset Management by 62.4% during the 2nd quarter. Geode Capital Management LLC now owns 3,755,340 shares of the financial services provider’s stock worth $208,571,000 after purchasing an additional 1,443,441 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BAM has been the topic of several research analyst reports. UBS Group set a $52.00 price objective on shares of Brookfield Asset Management in a research note on Friday. Loop Capital set a $60.00 price target on Brookfield Asset Management in a report on Tuesday, January 6th. Morgan Stanley set a $63.00 price objective on Brookfield Asset Management in a research note on Tuesday, February 17th. BMO Capital Markets upgraded Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Brookfield Asset Management in a report on Monday, December 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $63.65.

Brookfield Asset Management Stock Up 1.2%

NYSE BAM opened at $48.48 on Wednesday. The stock has a market capitalization of $79.41 billion, a P/E ratio of 31.89, a price-to-earnings-growth ratio of 1.75 and a beta of 1.40. Brookfield Asset Management Ltd. has a 52 week low of $41.78 and a 52 week high of $64.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a fifty day moving average of $51.90 and a 200-day moving average of $54.63.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.06. The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Brookfield Asset Management had a return on equity of 29.67% and a net margin of 51.59%. On average, equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be given a dividend of $0.5025 per share. The ex-dividend date is Friday, February 27th. This represents a $2.01 annualized dividend and a dividend yield of 4.1%. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.44. Brookfield Asset Management’s dividend payout ratio is presently 115.13%.

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.