Intact Investment Management Inc. Purchases 330,970 Shares of Brookfield Asset Management Ltd. $BAM

Intact Investment Management Inc. raised its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 127.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 590,560 shares of the financial services provider’s stock after buying an additional 330,970 shares during the quarter. Brookfield Asset Management comprises about 1.0% of Intact Investment Management Inc.’s investment portfolio, making the stock its 28th largest holding. Intact Investment Management Inc.’s holdings in Brookfield Asset Management were worth $33,612,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BAM. Caitong International Asset Management Co. Ltd lifted its position in Brookfield Asset Management by 1,270.6% during 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 during the last quarter. Manchester Capital Management LLC increased its position 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. acquired a new position in shares of Brookfield Asset Management during the second quarter worth $39,000. GAMMA Investing LLC lifted its holdings in shares of Brookfield Asset Management by 93.3% during the 3rd quarter. GAMMA Investing LLC now owns 831 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 401 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. 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. The Goldman Sachs Group dropped their price target on Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, January 6th. Wall Street Zen raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Royal Bank Of Canada set a $74.00 target price on shares of Brookfield Asset Management and gave the stock an “outperform” rating in a research report on Monday, December 15th. Finally, Morgan Stanley set a $62.00 price target on shares of Brookfield Asset Management in a research note on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.38.

Brookfield Asset Management Price Performance

Shares of NYSE BAM opened at $51.26 on Monday. Brookfield Asset Management Ltd. has a 52 week low of $41.78 and a 52 week high of $64.10. The business’s 50 day moving average price is $52.58 and its 200 day moving average price is $56.17. 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 has a market cap of $83.96 billion, a P/E ratio of 32.04, a P/E/G ratio of 2.20 and a beta of 1.39.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Friday, November 7th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $1.27 billion during 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%. On average, sell-side analysts expect 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 declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th were issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, November 28th. Brookfield Asset Management’s dividend payout ratio is presently 109.38%.

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.