FORA Capital LLC Purchases Shares of 20,597 Brookfield Asset Management Ltd. $BAM

Key Points

• FORA Capital LLC has acquired 20,597 shares of Brookfield Asset Management, with the investment valued at approximately $998,000.
• Analysts have raised target prices for Brookfield Asset Management, with CIBC setting a new price objective of $71.00 and TD Securities at $75.00, marking positive sentiment towards the stock.
• The company is set to pay a quarterly dividend of $0.4375 per share on September 29th, representing an annualized dividend of $1.75 and a yield of 2.9%.

FORA Capital LLC acquired a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 20,597 shares of the financial services provider's stock, valued at approximately $998,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Brookfield Asset Management by 975.9% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,765,220 shares of the financial services provider's stock worth $85,463,000 after purchasing an additional 1,601,155 shares in the last quarter. AGF Management Ltd. lifted its stake in Brookfield Asset Management by 60.5% during the 1st quarter. AGF Management Ltd. now owns 1,603,608 shares of the financial services provider's stock worth $77,742,000 after acquiring an additional 604,395 shares in the last quarter. MUFG Securities EMEA plc purchased a new position in Brookfield Asset Management during the 1st quarter valued at about $27,859,000. 1832 Asset Management L.P. boosted its holdings in Brookfield Asset Management by 96.6% during the 1st quarter. 1832 Asset Management L.P. now owns 981,961 shares of the financial services provider's stock valued at $47,576,000 after acquiring an additional 482,509 shares during the period. Finally, Vanguard Group Inc. grew its position in Brookfield Asset Management by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider's stock valued at $832,833,000 after acquiring an additional 302,852 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company's stock.

Analysts Set New Price Targets

BAM has been the topic of several research reports. Jefferies Financial Group increased their price target on shares of Brookfield Asset Management from $55.00 to $62.00 and gave the stock a "hold" rating in a research report on Wednesday, August 13th. Piper Sandler initiated coverage on shares of Brookfield Asset Management in a research note on Monday, June 30th. They set a "neutral" rating and a $60.00 target price on the stock. National Bankshares set a $71.00 target price on shares of Brookfield Asset Management and gave the stock an "outperform" rating in a report on Tuesday, July 29th. Morgan Stanley raised their price target on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the company an "equal weight" rating in a research report on Friday, May 16th. Finally, CIBC boosted their price target on shares of Brookfield Asset Management from $70.00 to $71.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.33.

Brookfield Asset Management Stock Down 1.7%

NYSE BAM traded down $1.04 on Tuesday, hitting $59.13. 3,147,649 shares of the stock were exchanged, compared to its average volume of 1,646,100. Brookfield Asset Management Ltd. has a fifty-two week low of $39.19 and a fifty-two week high of $64.10. The company has a 50-day moving average price of $59.57 and a 200-day moving average price of $55.30. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. The company has a market cap of $96.83 billion, a PE ratio of 39.68, a PEG ratio of 2.20 and a beta of 1.44.

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

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Asset Management's payout ratio is 117.45%.

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.