Midway Capital Research & Management Acquires Shares of 15,820 Brookfield Asset Management Ltd. $BAM

Midway Capital Research & Management acquired a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 15,820 shares of the financial services provider’s stock, valued at approximately $829,000.

A number of other large investors also recently bought and sold shares of BAM. Vanguard Group Inc. raised its holdings in Brookfield Asset Management by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 17,723,182 shares of the financial services provider’s stock worth $928,414,000 after purchasing an additional 297,790 shares in the last quarter. TD Asset Management Inc raised its holdings in Brookfield Asset Management by 2.0% during the fourth quarter. TD Asset Management Inc now owns 15,769,066 shares of the financial services provider’s stock worth $827,135,000 after purchasing an additional 315,036 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Brookfield Asset Management by 7.3% during the 4th quarter. Principal Financial Group Inc. now owns 7,863,457 shares of the financial services provider’s stock worth $411,972,000 after buying an additional 533,639 shares during the last quarter. Norges Bank acquired a new position in Brookfield Asset Management during the fourth quarter worth about $263,444,000. Finally, CIBC Asset Management Inc raised its position in shares of Brookfield Asset Management by 99.1% during the 4th quarter. CIBC Asset Management Inc now owns 4,853,861 shares of the financial services provider’s stock worth $255,449,000 after purchasing an additional 2,415,593 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

BAM has been the topic of several recent analyst reports. Scotiabank reissued an “outperform” rating and set a $57.00 price objective (up from $56.00) on shares of Brookfield Asset Management in a research note on Monday, May 11th. Royal Bank Of Canada cut their price objective on shares of Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating on the stock in a report on Monday, May 11th. The Goldman Sachs Group cut their target price on shares of Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Canadian Imperial Bank of Commerce set a $62.50 price objective on shares of Brookfield Asset Management in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $60.21.

Brookfield Asset Management Trading Up 0.1%

Brookfield Asset Management stock opened at $47.48 on Friday. The firm’s 50 day moving average price is $47.76 and its two-hundred day moving average price is $49.05. The firm has a market cap of $77.78 billion, a price-to-earnings ratio of 30.83, a price-to-earnings-growth ratio of 1.90 and a beta of 1.26. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.38 and a current ratio of 1.38. Brookfield Asset Management Ltd. has a 1 year low of $42.20 and a 1 year high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%.The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.43 billion. On average, research analysts predict that Brookfield Asset Management Ltd. will post 1.75 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be paid a $0.5025 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $2.01 dividend on an annualized basis and a yield of 4.2%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 130.52%.

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.