Intact Investment Management Inc. Buys Shares of 126,760 Brookfield Asset Management Ltd. (NYSE:BAM)

Intact Investment Management Inc. bought a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 126,760 shares of the financial services provider’s stock, valued at approximately $4,825,000.

A number of other large investors also recently added to or reduced their stakes in BAM. YHB Investment Advisors Inc. acquired a new position in Brookfield Asset Management during the 1st quarter valued at about $26,000. Massmutual Trust Co. FSB ADV raised its position in shares of Brookfield Asset Management by 98.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 385 shares during the period. Continuum Advisory LLC raised its position in shares of Brookfield Asset Management by 57.6% in the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 285 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in shares of Brookfield Asset Management by 574.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 758 shares during the period. Finally, WASHINGTON TRUST Co raised its position in shares of Brookfield Asset Management by 151.3% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 640 shares during the period. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Price Performance

BAM stock traded up $0.14 during midday trading on Friday, reaching $40.76. 707,203 shares of the company were exchanged, compared to its average volume of 1,301,340. The business has a 50-day moving average price of $40.31 and a two-hundred day moving average price of $40.18. Brookfield Asset Management Ltd. has a one year low of $28.35 and a one year high of $44.38. The firm has a market capitalization of $18.09 billion, a price-to-earnings ratio of 37.74, a price-to-earnings-growth ratio of 1.95 and a beta of 1.57.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. The company had revenue of $916.00 million for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the firm earned $0.28 earnings per share. As a group, analysts anticipate that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Asset Management’s dividend payout ratio is currently 140.74%.

Analyst Upgrades and Downgrades

BAM has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut their price target on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. TD Securities increased their price target on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Finally, CIBC raised their price target on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $42.46.

Brookfield Asset Management Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.