Nicola Wealth Management LTD. Has $13.19 Million Stock Position in Brookfield Asset Management Ltd. $BAM

Nicola Wealth Management LTD. increased its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 16.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 251,758 shares of the financial services provider’s stock after buying an additional 35,200 shares during the quarter. Nicola Wealth Management LTD.’s holdings in Brookfield Asset Management were worth $13,190,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its stake in shares of Brookfield Asset Management by 88,805.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,725,314 shares of the financial services provider’s stock worth $247,559,000 after purchasing an additional 4,719,999 shares during the last quarter. State Street Corp raised its stake in shares of Brookfield Asset Management by 11,172.2% in the second quarter. State Street Corp now owns 3,524,700 shares of the financial services provider’s stock worth $194,845,000 after purchasing an additional 3,493,431 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Brookfield Asset Management by 2,834.0% in the third quarter. Legal & General Group Plc now owns 2,365,709 shares of the financial services provider’s stock worth $134,659,000 after purchasing an additional 2,285,077 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Brookfield Asset Management by 72.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,904,677 shares of the financial services provider’s stock worth $222,161,000 after purchasing an additional 1,642,375 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of Brookfield Asset Management by 55.0% in the second quarter. Canada Pension Plan Investment Board now owns 1,699,374 shares of the financial services provider’s stock worth $94,117,000 after purchasing an additional 602,962 shares during the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BAM has been the subject of several analyst reports. Canadian Imperial Bank of Commerce set a $62.50 price objective on Brookfield Asset Management in a research note on Monday, May 11th. JPMorgan Chase & Co. lowered their price objective on Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. Piper Sandler reissued a “neutral” rating and issued a $50.00 price objective (up from $48.00) on shares of Brookfield Asset Management in a research note on Monday, May 18th. Zacks Research downgraded Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 20th. Finally, Scotiabank reissued an “outperform” rating and issued a $57.00 price objective (up from $56.00) on shares of Brookfield Asset Management in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $60.21.

Brookfield Asset Management Price Performance

Shares of NYSE BAM opened at $47.96 on Monday. The stock has a fifty day simple moving average of $46.27 and a two-hundred day simple moving average of $49.67. Brookfield Asset Management Ltd. has a 1-year low of $42.20 and a 1-year high of $64.10. The firm has a market cap of $78.56 billion, a price-to-earnings ratio of 31.14, a price-to-earnings-growth ratio of 1.95 and a beta of 1.28. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.34.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.43 earnings per share 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 analyst estimates of $1.43 billion. Analysts anticipate that Brookfield Asset Management Ltd. will post 1.74 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

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

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.