JCIC Asset Management Inc. Buys New Shares in Brookfield Asset Management Ltd. $BAM

JCIC Asset Management Inc. bought a new position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 80,402 shares of the financial services provider’s stock, valued at approximately $4,575,000. Brookfield Asset Management accounts for about 1.4% of JCIC Asset Management Inc.’s holdings, making the stock its 22nd largest holding.

A number of other institutional investors have also bought and sold shares of the business. Caitong International Asset Management Co. Ltd lifted its position in shares of Brookfield Asset Management by 1,270.6% in the second quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 432 shares in the last quarter. Manchester Capital Management LLC raised its stake in Brookfield Asset Management by 559.5% during the 2nd quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 442 shares during the period. Sagard Holdings Management Inc. purchased a new position in Brookfield Asset Management in the 2nd quarter worth approximately $39,000. GAMMA Investing LLC boosted its stake in Brookfield Asset Management by 93.3% in the 3rd quarter. GAMMA Investing LLC now owns 831 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 401 shares during the period. Finally, TD Private Client Wealth LLC boosted its stake in Brookfield Asset Management by 1,123.5% in the 3rd quarter. TD Private Client Wealth LLC now owns 832 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 764 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

Brookfield Asset Management stock opened at $52.77 on Monday. The company’s 50-day moving average price is $52.75 and its 200-day moving average price is $56.34. 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 company has a market cap of $86.43 billion, a PE ratio of 32.98, a price-to-earnings-growth ratio of 2.26 and a beta of 1.39. Brookfield Asset Management Ltd. has a twelve month low of $41.78 and a twelve month high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Friday, November 7th. The financial services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Brookfield Asset Management had a net margin of 58.25% and a return on equity of 33.77%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.34 billion. On average, equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th were given a dividend of $0.4375 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $1.75 annualized dividend and a dividend yield of 3.3%. Brookfield Asset Management’s payout ratio is currently 109.38%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BAM shares. The Goldman Sachs Group lowered their target price on shares of Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. Wall Street Zen upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. UBS Group set a $58.00 price objective on Brookfield Asset Management and gave the company a “neutral” rating in a research report on Tuesday, January 13th. Royal Bank Of Canada set a $74.00 target price on Brookfield Asset Management and gave the stock an “outperform” rating in a report on Monday, December 15th. Finally, Loop Capital set a $60.00 price target on Brookfield Asset Management in a research note on Tuesday, January 6th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $63.38.

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.