Sei Investments Co. Acquires 75,814 Shares of Brookfield Asset Management Ltd. $BAM

Sei Investments Co. raised its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 63.3% in the first quarter, Holdings Channel reports. The institutional investor owned 195,489 shares of the financial services provider’s stock after acquiring an additional 75,814 shares during the period. Sei Investments Co.’s holdings in Brookfield Asset Management were worth $8,689,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT boosted its stake in shares of Brookfield Asset Management by 241.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 345 shares during the last quarter. LOM Asset Management Ltd purchased a new stake in shares of Brookfield Asset Management in the 4th quarter worth $31,000. eCIO Inc. purchased a new stake in shares of Brookfield Asset Management in the 4th quarter worth $42,000. Allworth Financial LP increased its stake in shares of Brookfield Asset Management by 47.8% in the 4th quarter. Allworth Financial LP now owns 1,029 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 333 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in Brookfield Asset Management by 709.8% in the 4th quarter. Fifth Third Bancorp now owns 1,069 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 937 shares during the period. 68.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BAM has been the topic of several analyst reports. Morgan Stanley set a $56.00 target price on Brookfield Asset Management and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Canadian Imperial Bank of Commerce set a $62.50 price target on Brookfield Asset Management in a research report on Monday, May 11th. Scotiabank reaffirmed 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. Wall Street Zen cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. Finally, Weiss Ratings downgraded Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $59.03.

Brookfield Asset Management Stock Up 0.0%

BAM opened at $48.42 on Monday. The stock has a market cap of $79.33 billion, a price-to-earnings ratio of 31.44, a price-to-earnings-growth ratio of 1.97 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. The firm’s fifty day moving average is $46.98 and its 200 day moving average is $47.60. Brookfield Asset Management Ltd. has a fifty-two week low of $42.20 and a fifty-two week high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.43 billion. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%. On average, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.76 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were paid a $0.5025 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.2%. 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.