Northwestern Mutual Wealth Management Co. Grows Position in Brookfield Asset Management Ltd. $BAM

Northwestern Mutual Wealth Management Co. boosted its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 88,805.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,725,314 shares of the financial services provider’s stock after purchasing an additional 4,719,999 shares during the period. Northwestern Mutual Wealth Management Co. owned about 0.29% of Brookfield Asset Management worth $247,559,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC purchased a new position in shares of Brookfield Asset Management in the first quarter valued at about $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Brookfield Asset Management by 10.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,050 shares of the financial services provider’s stock valued at $12,648,000 after acquiring an additional 24,013 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Brookfield Asset Management by 17.6% in the second quarter. Cerity Partners LLC now owns 34,666 shares of the financial services provider’s stock valued at $1,916,000 after acquiring an additional 5,184 shares in the last quarter. State Street Corp lifted its position 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 valued at $194,845,000 after acquiring an additional 3,493,431 shares in the last quarter. Finally, Sei Investments Co. lifted its position in shares of Brookfield Asset Management by 30.1% in the second quarter. Sei Investments Co. now owns 82,423 shares of the financial services provider’s stock valued at $4,556,000 after acquiring an additional 19,089 shares in the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Trading Down 3.0%

Shares of BAM stock opened at $47.96 on Friday. Brookfield Asset Management Ltd. has a 12-month low of $42.20 and a 12-month high of $64.10. The company has a current ratio of 1.38, a quick ratio of 0.92 and a debt-to-equity ratio of 0.34. The stock’s 50-day moving average price is $46.05 and its 200-day moving average price is $49.92. The stock has a market capitalization 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.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Equities research analysts predict that Brookfield Asset Management Ltd. will post 1.74 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Canadian Imperial Bank of Commerce set a $62.50 price objective on Brookfield Asset Management in a research report 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 on the stock in a research report on Wednesday, May 6th. Scotiabank restated an “outperform” rating and issued a $57.00 price objective (up from $56.00) on shares of Brookfield Asset Management in a research report on Monday, May 11th. Royal Bank Of Canada lowered their price objective on Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating on the stock in a research report on Monday, May 11th. Finally, UBS Group set a $52.00 price objective on Brookfield Asset Management in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Brookfield Asset Management currently has a consensus rating of “Hold” and an average price target of $60.09.

Brookfield Asset Management 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.