Cooke & Bieler LP Purchases 92,246 Shares of Brookfield Asset Management Ltd. $BAM

Cooke & Bieler LP raised its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 7.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,346,894 shares of the financial services provider’s stock after buying an additional 92,246 shares during the quarter. Cooke & Bieler LP owned about 0.08% of Brookfield Asset Management worth $76,692,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Intact Investment Management Inc. grew its holdings in shares of Brookfield Asset Management by 127.5% in the third quarter. Intact Investment Management Inc. now owns 590,560 shares of the financial services provider’s stock valued at $33,612,000 after purchasing an additional 330,970 shares in the last quarter. Cullen Frost Bankers Inc. lifted its position in Brookfield Asset Management by 38.0% during the third quarter. Cullen Frost Bankers Inc. now owns 846 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 233 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Brookfield Asset Management by 1.9% in the 3rd quarter. CIBC Asset Management Inc now owns 2,438,268 shares of the financial services provider’s stock worth $139,644,000 after buying an additional 44,478 shares in the last quarter. Teacher Retirement System of Texas grew its stake in shares of Brookfield Asset Management by 78.7% in the 3rd quarter. Teacher Retirement System of Texas now owns 420,000 shares of the financial services provider’s stock worth $23,915,000 after buying an additional 185,000 shares in the last quarter. Finally, Covestor Ltd increased its holdings in shares of Brookfield Asset Management by 11,107.7% in the 3rd quarter. Covestor Ltd now owns 2,914 shares of the financial services provider’s stock worth $165,000 after buying an additional 2,888 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating for the company in a report on Monday, November 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Brookfield Asset Management in a research note on Monday, December 22nd. UBS Group set a $58.00 target price on Brookfield Asset Management and gave the company a “neutral” rating in a research report on Tuesday, January 13th. Morgan Stanley set a $62.00 price target on Brookfield Asset Management in a report on Monday, October 13th. Finally, Loop Capital set a $60.00 price target on Brookfield Asset Management in a research report 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, Brookfield Asset Management presently has a consensus rating of “Moderate Buy” and an average target price of $63.38.

Brookfield Asset Management Price Performance

Shares of BAM opened at $51.26 on Monday. 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 company has a 50 day moving average price of $52.58 and a 200-day moving average price of $56.17. Brookfield Asset Management Ltd. has a fifty-two week low of $41.78 and a fifty-two week high of $64.10. The stock has a market capitalization of $83.96 billion, a PE ratio of 32.04, a PEG ratio of 2.20 and a beta of 1.39.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Friday, November 7th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.34 billion. Brookfield Asset Management had a net margin of 58.25% and a return on equity of 33.77%. Equities analysts predict 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 was paid on Wednesday, December 31st. Investors of record on Friday, November 28th were paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Friday, November 28th. Brookfield Asset Management’s dividend payout ratio is 109.38%.

About Brookfield Asset Management

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.