Lansforsakringar Fondforvaltning AB publ Acquires 13,996 Shares of Brookfield Asset Management Ltd. $BAM

Lansforsakringar Fondforvaltning AB publ grew its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 17.2% during the third quarter, HoldingsChannel.com reports. The firm owned 95,240 shares of the financial services provider’s stock after buying an additional 13,996 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in Brookfield Asset Management were worth $5,421,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in Brookfield Asset Management in the second quarter valued at about $294,730,000. State Street Corp grew its position in shares of Brookfield Asset Management by 11,172.2% during the 2nd quarter. State Street Corp now owns 3,524,700 shares of the financial services provider’s stock worth $194,845,000 after buying an additional 3,493,431 shares during the period. Geode Capital Management LLC increased its stake in shares of Brookfield Asset Management by 62.4% in the 2nd quarter. Geode Capital Management LLC now owns 3,755,340 shares of the financial services provider’s stock valued at $208,571,000 after acquiring an additional 1,443,441 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Brookfield Asset Management by 25.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,218,119 shares of the financial services provider’s stock valued at $232,402,000 after acquiring an additional 857,994 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Brookfield Asset Management by 36.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,406,520 shares of the financial services provider’s stock valued at $133,281,000 after acquiring an additional 641,300 shares during the period. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Price Performance

Shares of NYSE BAM opened at $48.48 on Wednesday. The company has a fifty day moving average price of $51.90 and a 200 day moving average price of $54.63. The firm has a market cap of $79.41 billion, a PE ratio of 31.89, a PEG ratio of 1.75 and a beta of 1.40. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.05. 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 issued its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.40 billion. Brookfield Asset Management had a return on equity of 29.67% and a net margin of 51.59%. Research analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be given a dividend of $0.5025 per share. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.01 dividend on an annualized basis and a yield of 4.1%. Brookfield Asset Management’s payout ratio is currently 115.13%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BAM shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Brookfield Asset Management in a research note on Monday, December 22nd. Keefe, Bruyette & Woods decreased their price target on shares of Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating for the company in a report on Monday, November 10th. Wall Street Zen raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Zacks Research raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 19th. Finally, JPMorgan Chase & Co. increased their price target on Brookfield Asset Management from $68.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.65.

Brookfield Asset Management Company 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.