JCIC Asset Management Inc. Raises Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

JCIC Asset Management Inc. grew its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 84,179 shares of the financial services provider’s stock after buying an additional 1,159 shares during the quarter. Brookfield Asset Management accounts for approximately 1.8% of JCIC Asset Management Inc.’s portfolio, making the stock its 18th biggest position. JCIC Asset Management Inc.’s holdings in Brookfield Asset Management were worth $4,562,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hara Capital LLC acquired a new position in Brookfield Asset Management during the third quarter worth approximately $27,000. RPg Family Wealth Advisory LLC purchased a new stake in Brookfield Asset Management in the 3rd quarter valued at approximately $27,000. Richardson Financial Services Inc. raised its stake in shares of Brookfield Asset Management by 368.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock worth $37,000 after buying an additional 755 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Brookfield Asset Management by 1,606.3% in the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after buying an additional 771 shares during the period. Finally, Continuum Advisory LLC boosted its stake in shares of Brookfield Asset Management by 42.2% in the third quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock valued at $52,000 after buying an additional 329 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BAM. StockNews.com lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, November 11th. BMO Capital Markets raised their price objective on Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group boosted their target price on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Scotiabank raised their price target on Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $54.46.

Brookfield Asset Management Trading Down 0.8 %

Shares of BAM traded down $0.43 during mid-day trading on Monday, reaching $51.64. The company had a trading volume of 697,752 shares, compared to its average volume of 1,001,370. Brookfield Asset Management Ltd. has a fifty-two week low of $37.19 and a fifty-two week high of $59.58. The firm has a fifty day simple moving average of $56.02 and a 200-day simple moving average of $48.18. The stock has a market cap of $22.88 billion, a price-to-earnings ratio of 45.70, a price-to-earnings-growth ratio of 2.43 and a beta of 1.45.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.19 billion. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. During the same period last year, the business posted $0.35 EPS. As a group, equities analysts predict that Brookfield Asset Management Ltd. will post 1.47 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date was Friday, November 29th. Brookfield Asset Management’s dividend payout ratio is presently 134.51%.

About Brookfield Asset Management

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.