CIBC Asset Management Inc Has $139.64 Million Position in Brookfield Asset Management Ltd. $BAM

CIBC Asset Management Inc increased its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,438,268 shares of the financial services provider’s stock after buying an additional 44,478 shares during the quarter. CIBC Asset Management Inc owned 0.15% of Brookfield Asset Management worth $139,644,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its position in shares of Brookfield Asset Management by 1,270.6% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 432 shares during the period. Manchester Capital Management LLC raised its stake in shares of Brookfield Asset Management by 559.5% in the second 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 in the last quarter. Sagard Holdings Management Inc. bought a new position in Brookfield Asset Management in the second quarter worth $39,000. GAMMA Investing LLC boosted its stake in Brookfield Asset Management by 93.3% during the third quarter. GAMMA Investing LLC now owns 831 shares of the financial services provider’s stock worth $47,000 after buying an additional 401 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its holdings 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 valued at $47,000 after buying an additional 764 shares during the period. 68.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BAM has been the subject of a number of analyst reports. Morgan Stanley set a $62.00 price objective on shares of Brookfield Asset Management in a report on Monday, October 13th. 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. Scotiabank decreased their price objective on Brookfield Asset Management from $67.25 to $65.75 and set a “sector outperform” rating on the stock in a report on Monday, November 10th. National Bankshares dropped their target price on Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating for the company in a report on Monday, October 27th. Finally, The Goldman Sachs Group cut their target price on Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, January 6th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $63.38.

Brookfield Asset Management Price Performance

Shares of Brookfield Asset Management stock opened at $51.26 on Friday. The stock has a market capitalization of $83.96 billion, a price-to-earnings ratio of 32.04, a P/E/G ratio of 2.20 and a beta of 1.39. The firm’s 50-day moving average price is $52.58 and its two-hundred day moving average price is $56.17. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.05. Brookfield Asset Management Ltd. has a 1-year low of $41.78 and a 1-year high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Friday, November 7th. The financial services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Brookfield Asset Management had a return on equity of 33.77% and a net margin of 58.25%.The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.34 billion. On average, 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th were paid a $0.4375 dividend. The ex-dividend date was Friday, November 28th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.4%. Brookfield Asset Management’s dividend payout ratio (DPR) 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.