6,065 Shares in Brookfield Asset Management Ltd. (NYSE:BAM) Acquired by Ascent Group LLC

Ascent Group LLC acquired a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,065 shares of the financial services provider’s stock, valued at approximately $255,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Partners Value Investments L.P. raised its holdings in shares of Brookfield Asset Management by 0.9% during the 4th quarter. Partners Value Investments L.P. now owns 30,807,960 shares of the financial services provider’s stock worth $1,237,556,000 after buying an additional 280,098 shares in the last quarter. Capital World Investors raised its stake in Brookfield Asset Management by 10.0% during the fourth quarter. Capital World Investors now owns 24,562,364 shares of the financial services provider’s stock worth $986,656,000 after acquiring an additional 2,241,372 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Brookfield Asset Management by 8.6% in the first quarter. TD Asset Management Inc now owns 12,486,721 shares of the financial services provider’s stock worth $525,028,000 after acquiring an additional 988,538 shares during the last quarter. FIL Ltd boosted its stake in shares of Brookfield Asset Management by 66.1% in the 4th quarter. FIL Ltd now owns 11,314,071 shares of the financial services provider’s stock valued at $454,424,000 after purchasing an additional 4,501,410 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Brookfield Asset Management by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 10,760,414 shares of the financial services provider’s stock worth $452,153,000 after purchasing an additional 186,765 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BAM. CIBC raised their price objective on Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a report on Friday, July 19th. StockNews.com cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. assumed coverage on Brookfield Asset Management in a report on Wednesday, May 15th. They set a “neutral” rating and a $41.00 target price on the stock. Royal Bank of Canada increased their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Finally, Scotiabank cut their price objective on Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating on the stock in a research note on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $42.32.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM traded up $0.11 during mid-day trading on Monday, hitting $42.21. The company had a trading volume of 666,085 shares, compared to its average volume of 1,344,264. Brookfield Asset Management Ltd. has a one year low of $28.35 and a one year high of $43.00. The firm has a fifty day moving average price of $39.40 and a 200 day moving average price of $40.01. The company has a market capitalization of $18.73 billion, a PE ratio of 39.08, a price-to-earnings-growth ratio of 1.96 and a beta of 1.63.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, May 8th. The financial services provider reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. The business had revenue of $884.00 million during the quarter. Research analysts expect that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, May 31st were given a dividend of $0.38 per share. The ex-dividend date was Friday, May 31st. This represents a $1.52 annualized dividend and a dividend yield of 3.60%. Brookfield Asset Management’s payout ratio is 140.74%.

Brookfield Asset Management Profile

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.