Louisbourg Investments Inc. Grows Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Louisbourg Investments Inc. increased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3,312.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 49,552 shares of the financial services provider’s stock after acquiring an additional 48,100 shares during the quarter. Louisbourg Investments Inc.’s holdings in Brookfield Asset Management were worth $2,686,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Bank of Montreal Can raised its position in Brookfield Asset Management by 0.5% in the third quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider’s stock worth $435,729,000 after acquiring an additional 43,134 shares during the period. Principal Financial Group Inc. raised its holdings in Brookfield Asset Management by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock worth $419,400,000 after purchasing an additional 24,409 shares during the period. CIBC Asset Management Inc lifted its position in Brookfield Asset Management by 10.3% during the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock valued at $188,057,000 after purchasing an additional 370,383 shares in the last quarter. Douglass Winthrop Advisors LLC grew its holdings in Brookfield Asset Management by 3.9% during the third quarter. Douglass Winthrop Advisors LLC now owns 2,670,488 shares of the financial services provider’s stock valued at $126,287,000 after purchasing an additional 99,020 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Brookfield Asset Management by 66.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock worth $92,896,000 after buying an additional 784,250 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Trading Down 3.4 %

Shares of BAM stock opened at $55.59 on Wednesday. The stock’s 50-day moving average price is $56.45 and its 200-day moving average price is $50.86. Brookfield Asset Management Ltd. has a 12-month low of $37.29 and a 12-month high of $62.61. The stock has a market capitalization of $24.63 billion, a price-to-earnings ratio of 49.19, a price-to-earnings-growth ratio of 2.18 and a beta of 1.46.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wells Fargo & Company cut their price objective on Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. The Goldman Sachs Group upped their price target on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Keefe, Bruyette & Woods decreased their price objective on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research report on Monday, January 13th. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. Finally, TD Securities increased their price target on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.58.

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.