20,287 Shares in Brookfield Asset Management Ltd. $BAM Acquired by Park Avenue Securities LLC

Key Points

• Park Avenue Securities LLC acquired a new position in Brookfield Asset Management Ltd., purchasing 20,287 shares valued at approximately $1.12 million.
• Brookfield Asset Management plans to pay a quarterly dividend of $0.4375 per share, with an annualized yield of 3.0% and a payout ratio of 117.45%.
• Analyst ratings for Brookfield Asset Management are generally positive, with a consensus average rating of "Moderate Buy" and a price target of $63.52.

Park Avenue Securities LLC purchased a new position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,287 shares of the financial services provider's stock, valued at approximately $1,121,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. increased its stake in Brookfield Asset Management by 62.8% during the 2nd quarter. UMB Bank n.a. now owns 11,671 shares of the financial services provider's stock valued at $645,000 after purchasing an additional 4,500 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Brookfield Asset Management by 14.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 11,619 shares of the financial services provider's stock valued at $642,000 after purchasing an additional 1,436 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in Brookfield Asset Management by 20.2% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 74,500 shares of the financial services provider's stock valued at $4,115,000 after purchasing an additional 12,500 shares in the last quarter. Jackson Square Capital LLC bought a new stake in Brookfield Asset Management during the 2nd quarter valued at about $885,000. Finally, Lineweaver Wealth Advisors LLC bought a new stake in Brookfield Asset Management during the 2nd quarter valued at about $200,000. Hedge funds and other institutional investors own 68.41% of the company's stock.

Analyst Upgrades and Downgrades

BAM has been the topic of a number of recent analyst reports. Royal Bank Of Canada initiated coverage on shares of Brookfield Asset Management in a report on Wednesday, June 18th. They set an "outperform" rating and a $72.00 price target on the stock. CIBC raised their price target on shares of Brookfield Asset Management from $70.00 to $71.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Scotiabank raised their price target on shares of Brookfield Asset Management from $66.00 to $67.25 and gave the company a "sector outperform" rating in a report on Thursday, August 7th. BMO Capital Markets raised their price target on shares of Brookfield Asset Management from $53.00 to $56.00 and gave the company a "market perform" rating in a report on Thursday, August 7th. Finally, National Bankshares set a $71.00 price objective on shares of Brookfield Asset Management and gave the stock an "outperform" rating in a report on Tuesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $63.52.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM opened at $58.09 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.25. Brookfield Asset Management Ltd. has a 1-year low of $41.78 and a 1-year high of $64.10. The company has a market capitalization of $95.14 billion, a P/E ratio of 38.99, a P/E/G ratio of 2.12 and a beta of 1.44. The firm's 50 day simple moving average is $60.20 and its two-hundred day simple moving average is $55.69.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. The firm had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.29 billion. Research analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a dividend of $0.4375 per share. The ex-dividend date is Friday, August 29th. This represents a $1.75 annualized dividend and a dividend yield of 3.0%. Brookfield Asset Management's dividend payout ratio (DPR) is presently 117.45%.

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.

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