Investors might want to bet on Brookfield Asset Management (BAM) , as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked ...

Here are three stocks with buy rank and strong income characteristics for investors to consider today, December 13:West Bancorporation, Inc. (WTBA) : This financial holding company has witnessed the Zacks Consensus Estimate for its current year earnings increasing 7.7% the last 60 days.This Zacks Rank #1 company has a dividend yield of 4.2%, compared with the industry average of 2.9%.Pitney Bowes Inc. (PBI) : This shipping and mailing company has witnessed the Zacks Consensus Estimate for its current year e ...

Brookfield Asset Management Ltd. (NYSE:BAM) Goldman Sachs 2024 U.S. Financial Services Conference December 11, 2024 10:40 AM ET Company Participants Bruce Flatt - Chief Executive Officer Conference Call Participants Alex Blostein - Goldman Sachs Alex Blostein Okay. Good morning, everybody. Still morning. So good to see everyone. It's – we are going to get started with our next session. It is my pleasure to introduce Bruce Flatt, CEO of Brookfield Asset Management. Brookfield, of course is a leading global a ...

Brookfield Asset Management Ltd. (NYSE:BAM) Goldman Sachs 2024 U.S. Financial Services Conference December 11, 2024 10:40 AM ET Company Participants Bruce Flatt - Chief Executive Officer Conference Call Participants Alex Blostein - Goldman Sachs Alex Blostein Okay. Good morning, everybody. Still morning. So good to see everyone. It's – we are going to get started with our next session. It is my pleasure to introduce Bruce Flatt, CEO of Brookfield Asset Management. Brookfield, of course is a leading global a ...

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Here are two stocks with buy rank and strong momentum characteristics for investors to consider today, November 20:Brookfield Asset Management Ltd. (BAM) : This real estate investment company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 2.1% over the last 60 days.Brookfield Asset Management's shares gained 39.8% over the last three months compared with the S&P 500’s advanced of 5.1%. The company possesses a Momentum Score of A.Shopify Inc. (SHOP) : ...

Here are two stocks with buy rank and strong income characteristics for investors to consider today, November 20:Brookfield Asset Management Ltd. (BAM) : This real estate investment company has witnessed the Zacks Consensus Estimate for its current year earnings increasing 2.1% the last 60 days.This Zacks Rank #1 company has a dividend yield of 2.7%, compared with the industry average of 0.0%.Fidelis Insurance Holdings Limited (FIHL) : This insurance holding company has witnessed the Zacks Consensus Estimat ...

NEW YORK, Nov. 19, 2024 (GLOBE NEWSWIRE) -- TerraForm Power, a leading developer, builder, and operator of renewable power, announced today that it has named Mark Noyes as Chief Executive Officer and President to further the company’s strategy across existing and new opportunities for growth. Mr. Noyes brings with him over 30 years of experience in the energy sector and joins TerraForm Power from RWE Clean Energy’s leadership team where he was the Chief Executive Officer. Under his leadership, RWE Clean Ene ...

Assets Under Management - As of September 30, 2024, Brookfield Asset Management has over $1 trillion in assets under management (AUM) across various sectors including renewable power, infrastructure, real estate, private equity, and credit[39]. - The renewable power and transition segment has $103 billion in AUM, with a focus on low-carbon energy investments[52]. - The infrastructure segment has $202 billion in AUM, focusing on essential goods and services across utilities, transport, midstream, and data infrastructure sectors[55]. - The real estate segment manages over $272 billion in AUM, investing in iconic properties in dynamic markets[59]. - The private equity segment has $141 billion in AUM, focusing on high-quality businesses across business services and industrial sectors[63]. - As of September 30, 2024, Brookfield has $314 billion in assets under management (AUM) in its credit management division[67]. Financial Performance - For the three months ended September 30, 2024, net income was $129 million, an increase from $122 million in the prior period, driven by higher income from the Asset Management Company[73]. - The Manager recorded net income of $355 million for the nine months ended September 30, 2024, compared to $356 million in the prior period, impacted by higher interest expenses[74]. - Net income for Q3 2024 was $537 million, an increase of 5.3% from $510 million in Q3 2023[79]. - Revenues for Q3 2024 were $1.1 billion, representing a 25% increase from $893 million in Q3 2023[80]. - Total revenues for the Asset Management Company for the three months ended September 30, 2024, were $1,117 million, up from $893 million in the prior year[76]. - For the nine months ended September 30, 2024, net income was $1.4 billion, a decrease from $1.6 billion in the same period in 2023[91]. Fee Revenues and Distributable Earnings - The company aims to pay out approximately 90% of its Distributable Earnings to shareholders quarterly, reinvesting the balance back into the business[42]. - Fee Revenues for the three months ended September 30, 2024, were $1.2 billion, a 9% increase compared to the prior period, mainly due to a $96 million rise in base management fees[173]. - Distributable Earnings for the three months ended September 30, 2024, were $619 million, reflecting a 9% increase from the prior period, driven by higher Fee-Related Earnings[173]. - For the nine months ended September 30, 2024, Fee Revenues totaled $3.5 billion, a 6% increase from the prior period, primarily due to a $159 million rise in base management fees[175]. Expenses and Costs - Total expenses for the Asset Management Company for the three months ended September 30, 2024, were $476 million, compared to $313 million in the prior year[76]. - Compensation and benefits for Q3 2024 were $326 million, up 56% from $208 million in Q3 2023, primarily due to higher share-based compensation[86]. - Total expenses for the nine months ended September 30, 2024, were $1.3 billion, an 11% increase from $1.2 billion in the same period in 2023[99]. Capital and Investments - As of September 30, 2024, the company had Fee-Bearing Capital of $539 billion, with 88% being long-dated or perpetual, providing significant stability to earnings[42]. - The company managed approximately $259 billion of Fee-Bearing Capital across long-term private funds as of September 30, 2024[164]. - Fee-Bearing Capital in permanent capital vehicles and perpetual strategies reached approximately $211 billion as of September 30, 2024[164]. - Fee-Bearing Capital for Private Equity as of September 30, 2024, increased to $43.7 billion, up $4.9 billion or 13% from the previous period[220]. Strategic Initiatives - The company is pursuing strategic M&A opportunities to expand capabilities and enhance growth[42]. - The AEL Mandate increased the Manager's ownership in the Asset Management Company from approximately 25% to 27% following the acquisition of American Equity Investment Life Holding Company[74]. Market and Economic Conditions - The company is subject to various risks including market volatility, regulatory changes, and economic conditions that could impact future results[31]. - The overall increase in Fee-Bearing Capital was partially offset by distributions to clients and outflows due to redemptions within liquid and perpetual strategies[168][170].

Financial Data and Key Metrics - Fee-bearing capital (FBC) grew by nearly $100 billion over the past year to $539 billion, a 23% increase [9] - Fee-related earnings for Q3 were up 14% YoY to a record $644 million, or $0.39 per share [9] - Distributable earnings grew 9% YoY to a record $619 million, or $0.38 per share [9] - The company deployed nearly $50 billion over the past year, including $20 billion in Q3 alone, with over $100 billion of uncalled capital still available [40] - The company raised $21 billion in Q3, with credit accounting for more than half of the capital raised ($14 billion) [59] Business Line Performance - Real estate: Over $5 billion of real estate assets were sold, generating a 28% annualized return and a 2.5x multiple of capital [34] - Renewable power: Nearly $2 billion of equity proceeds were generated from renewable power asset sales, with an aggregate IRR of 27% and a 2.5x multiple of capital [36] - Infrastructure: The company completed the acquisition of a portfolio of 76,000 telecom sites in India for $800 million of equity capital [43] - Private equity: The acquisition of Network International for $2 billion of equity capital was completed, with plans to merge it with Magnati to form a combined payment processing platform across the Middle East [43] Market Performance - The company sees attractive investment opportunities, especially for large transactions or opportunities that need capital to grow [11] - There is a robust bid for high-quality cash-generative assets, which benefits the company given its investment makeup [12] - The company expects a significant return of capital to limited partners, which will support a constructive fundraising environment [12] Strategic Direction and Industry Competition - The company is focused on key themes such as private credit, AI infrastructure, and energy transition, which are shaping the future of the global economy [27] - The company is well-positioned in renewable power, infrastructure, and real estate, combined with its private equity and credit capabilities [27] - The company is investing in AI infrastructure, including a $30 billion semiconductor fabrication plant with Intel in Arizona and a large data center portfolio [21] - The company is also investing in nuclear energy through its acquisition of Westinghouse, which services approximately half the global fleet of nuclear power plants [24] Management Commentary on Operating Environment and Future Outlook - The company expects strong earnings growth to continue for the foreseeable future, with market headwinds turning into tailwinds [14] - The company is strategically positioned in areas that matter most, such as energy transition, AI infrastructure, and private credit [52] - The company aims to double its business over the next five years by expanding fundraising, growing its credit business, and entering new asset classes [67] Other Important Information - The company declared a dividend of $0.38 per share for Q3, payable on December 31, 2024 [79] - The company is simplifying its corporate structure to position itself for broader index inclusion, with plans to have 100% of the asset management company publicly traded [73][74] Q&A Session Summary Question: AI Infrastructure as a Dedicated Strategy - The company is considering AI infrastructure as a dedicated strategy, focusing on the infrastructure side of AI rather than private equity or growth [80][84] Question: Margins in the Credit Business - The credit business is viewed as lower margin, but the company has built its business to generate attractive margins through a combination of full fees and third-party SMA business [86][88] Question: Fundraising in Renewable and Transition Business - The company expects to hit its fundraising target for the renewable and transition business, with strong momentum in deployment and monetization [92][97] Question: Corporate Structure Changes and S&P 500 Eligibility - The company's corporate structure changes are aimed at increasing liquidity and broader index inclusion, with potential eligibility for the S&P 500 [98][100] Question: Expense Growth and Margin Expansion - The company expects margins to continue to improve, with Q4 expenses higher than Q3 and margins in 2025 higher than in 2024 [102][106] Question: Capital Raising Expectations for 2024 and 2025 - The company expects strong fundraising in 2024 and 2025, driven by flagship products and a favorable market environment [107][112] Question: Voting Rights and Tax Implications of Corporate Structure Changes - The corporate structure changes will have no impact on voting rights or tax implications for shareholders [115] Question: Insurance Portfolio and FRE Lift - The company is in the early stages of reshaping its insurance portfolio, with the FRE lift expected to accelerate over the next couple of years [118][120] Question: Uncalled Commitments and Fee Risk - The fee risk from uncalled commitments is modest, with 90% of commitments not expiring until after 2028 [124] Question: Outflows and Monetization Plans - The company expects strong inflows in 2025, with monetization activity leading to capital returning to LPs and then reinvested in new fund commitments [126][128] Question: Fee-Related Earnings and Fee Rates - The company expects to double its business over the next five years, driven by flagship funds, complementary strategies, and credit business growth [130][132] Question: Seller's and Buyer's Market Dynamics - The company is experiencing both a seller's and buyer's market, driven by robust demand for high-quality assets and a shortage of capital for new opportunities [133][137] Question: Wealth Infrastructure Fund Sales - The wealth infrastructure fund saw strong sales in Q3, driven by investor demand, with potential for new wealth products in private equity and credit segments [139][141] Question: BPG Management Fee Increase - The increase in BPG management fees was driven by capital raises and catch-up fees, as well as moving assets to BWS [142][143] Question: Insurance SMA Cadence - The company has ongoing conversations to add more insurance SMA clients, with the platform built to handle scale capital [148][151]