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

Alps Advisors Inc. bought a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,760 shares of the financial services provider’s stock, valued at approximately $1,011,000.

Other large investors have also modified their holdings of the company. Machina Capital S.A.S. purchased a new position in shares of Brookfield Asset Management in the 3rd quarter valued at approximately $1,842,000. Allianz Asset Management GmbH grew its holdings in shares of Brookfield Asset Management by 6.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 6,857 shares of the financial services provider’s stock worth $390,000 after acquiring an additional 387 shares during the period. Woodmont Investment Counsel LLC increased its position in shares of Brookfield Asset Management by 1.4% in the third quarter. Woodmont Investment Counsel LLC now owns 131,347 shares of the financial services provider’s stock valued at $7,479,000 after buying an additional 1,814 shares in the last quarter. Bridges Investment Management Inc. increased its holdings in Brookfield Asset Management by 31.2% during the 3rd quarter. Bridges Investment Management Inc. now owns 12,988 shares of the financial services provider’s stock valued at $740,000 after acquiring an additional 3,090 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its position in shares of Brookfield Asset Management by 42.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 5,985 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 1,773 shares during the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Performance

Shares of BAM opened at $52.39 on Thursday. Brookfield Asset Management Ltd. has a 52-week low of $41.78 and a 52-week high of $64.10. The firm has a market capitalization of $85.81 billion, a PE ratio of 34.47, a P/E/G ratio of 1.94 and a beta of 1.40. The firm has a 50-day moving average price of $52.41 and a 200 day moving average price of $55.36. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.05.

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

Brookfield Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be issued a dividend of $0.5025 per share. The ex-dividend date is Friday, February 27th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.44. This represents a $2.01 dividend on an annualized basis and a yield of 3.8%. Brookfield Asset Management’s payout ratio is 115.13%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. National Bank Financial reduced their target price on shares of Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating on the stock in a report on Monday, October 27th. BMO Capital Markets raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. UBS Group set a $58.00 price target on shares of Brookfield Asset Management and gave the company a “neutral” rating in a research report on Tuesday, January 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Brookfield Asset Management in a research report on Monday, December 22nd. Finally, Wall Street Zen raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $63.94.

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.