NewGen Asset Management Ltd Invests $3.98 Million in Brookfield Asset Management Ltd. $BAM

NewGen Asset Management Ltd purchased a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 75,000 shares of the financial services provider’s stock, valued at approximately $3,977,000. Brookfield Asset Management accounts for approximately 1.1% of NewGen Asset Management Ltd’s investment portfolio, making the stock its 16th biggest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Manchester Capital Management LLC raised its position in Brookfield Asset Management by 559.5% during the 2nd quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock worth $29,000 after buying an additional 442 shares during the last quarter. Sagard Holdings Management Inc. purchased a new stake in shares of Brookfield Asset Management in the second quarter valued at about $39,000. Assetmark Inc. boosted its holdings in shares of Brookfield Asset Management by 95.9% in the third quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 395 shares in the last quarter. Cary Street Partners Financial LLC increased its stake in shares of Brookfield Asset Management by 227.5% during the third quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 562 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Brookfield Asset Management by 93.3% during the third quarter. GAMMA Investing LLC now owns 831 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 401 shares in the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $45.97 on Tuesday. The stock has a fifty day moving average price of $50.87 and a 200 day moving average price of $53.75. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market cap of $75.30 billion, a PE ratio of 30.24, a P/E/G 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 for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. Brookfield Asset Management had a return on equity of 29.81% and a net margin of 51.59%.The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

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

Analyst Ratings Changes

A number of brokerages recently commented on BAM. Scotiabank set a $64.00 price objective on shares of Brookfield Asset Management and gave the company an “outperform” rating in a research report on Thursday, February 5th. The Goldman Sachs Group cut their target price on 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. UBS Group set a $52.00 price target on Brookfield Asset Management in a report on Friday, February 20th. Zacks Research upgraded Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 19th. Finally, Wall Street Zen upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.