Mediolanum International Funds Ltd Invests $477,000 in Brookfield Asset Management Ltd. (NYSE:BAM)

Mediolanum International Funds Ltd acquired a new position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,787 shares of the financial services provider’s stock, valued at approximately $477,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. SOL Capital Management CO lifted its stake in Brookfield Asset Management by 5.6% in the fourth quarter. SOL Capital Management CO now owns 31,616 shares of the financial services provider’s stock worth $1,713,000 after acquiring an additional 1,673 shares during the period. Foundations Investment Advisors LLC lifted its stake in Brookfield Asset Management by 75.1% in the fourth quarter. Foundations Investment Advisors LLC now owns 11,650 shares of the financial services provider’s stock worth $631,000 after acquiring an additional 4,996 shares during the period. Grimes & Company Inc. purchased a new stake in Brookfield Asset Management in the fourth quarter worth about $203,000. Geneos Wealth Management Inc. purchased a new stake in Brookfield Asset Management in the fourth quarter worth about $195,000. Finally, Janney Montgomery Scott LLC lifted its stake in Brookfield Asset Management by 7.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 212,807 shares of the financial services provider’s stock worth $11,532,000 after acquiring an additional 15,641 shares during the period. 68.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BAM. Keefe, Bruyette & Woods lowered their price objective on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research note on Monday, January 13th. UBS Group began coverage on shares of Brookfield Asset Management in a research report on Monday, December 16th. They set a “buy” rating for the company. TD Securities increased their price target on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Scotiabank increased their price target on shares of 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. Finally, Deutsche Bank Aktiengesellschaft increased 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. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $56.13.

Brookfield Asset Management Trading Down 1.4 %

Shares of NYSE:BAM opened at $59.94 on Monday. Brookfield Asset Management Ltd. has a twelve month low of $37.29 and a twelve month high of $62.61. The company’s 50 day moving average is $56.41 and its 200 day moving average is $50.02. The company has a market cap of $26.56 billion, a PE ratio of 53.04, a price-to-earnings-growth ratio of 2.32 and a beta of 1.45.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued 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 business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same quarter last year, the company earned $0.35 EPS. Equities research analysts predict that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current fiscal year.

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.