Korea Investment CORP Boosts Holdings in Brookfield Asset Management Ltd. $BAM

Korea Investment CORP grew its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 21.3% during the third quarter, HoldingsChannel reports. The firm owned 284,049 shares of the financial services provider’s stock after purchasing an additional 49,917 shares during the quarter. Korea Investment CORP’s holdings in Brookfield Asset Management were worth $16,168,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of BAM. Vanguard Group Inc. boosted its position in shares of Brookfield Asset Management by 1.5% during the third quarter. Vanguard Group Inc. now owns 17,425,392 shares of the financial services provider’s stock valued at $991,677,000 after purchasing an additional 253,789 shares in the last quarter. Cumberland Partners Ltd raised its holdings in Brookfield Asset Management by 78.0% in the third quarter. Cumberland Partners Ltd now owns 126,015 shares of the financial services provider’s stock worth $7,168,000 after purchasing an additional 55,225 shares in the last quarter. Hillsdale Investment Management Inc. lifted its position in Brookfield Asset Management by 65.6% during the third quarter. Hillsdale Investment Management Inc. now owns 254,212 shares of the financial services provider’s stock valued at $14,463,000 after buying an additional 100,713 shares during the period. New York State Common Retirement Fund lifted its position in Brookfield Asset Management by 18.5% during the third quarter. New York State Common Retirement Fund now owns 465,600 shares of the financial services provider’s stock valued at $26,511,000 after buying an additional 72,600 shares during the period. Finally, Intact Investment Management Inc. boosted its holdings in shares of Brookfield Asset Management by 127.5% during the 3rd quarter. Intact Investment Management Inc. now owns 590,560 shares of the financial services provider’s stock valued at $33,612,000 after buying an additional 330,970 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analysts Set New Price Targets

BAM has been the topic of a number of recent research reports. 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. Weiss Ratings reissued a “buy (b-)” rating on shares of Brookfield Asset Management in a research note on Monday, December 22nd. UBS Group set a $52.00 price objective on shares of Brookfield Asset Management in a report on Friday, February 20th. The Goldman Sachs Group decreased their target price on shares of Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, January 6th. Finally, Zacks Research upgraded shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $63.65.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM opened at $45.28 on Wednesday. The business has a fifty day moving average price of $50.72 and a 200-day moving average price of $53.64. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $74.17 billion, a PE ratio of 29.79, a PEG ratio of 1.62 and a beta of 1.42. 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 announced its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.81%. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.40 billion. As a group, equities analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be paid a $0.5025 dividend. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.44. This represents a $2.01 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Friday, February 27th. Brookfield Asset Management’s payout ratio is currently 132.24%.

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.