American Century Companies Inc. Has $3.96 Million Holdings in Brookfield Asset Management Ltd. $BAM

Key Points

• American Century Companies Inc. increased its stake in Brookfield Asset Management by 10.1%, holding 81,871 shares worth approximately $3,964,000 after acquiring an additional 7,482 shares in the first quarter.
• Brookfield Asset Management reported a missed earnings estimate for the quarter with an EPS of $0.38, falling short of analyst expectations of $0.39, alongside revenue of $1.11 billion compared to the forecast of $1.29 billion.
• The company's recent quarterly dividend of $0.4375 reflects a yield of 2.9%, but the dividend payout ratio stands notably high at 117.45%.

American Century Companies Inc. lifted its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 10.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,871 shares of the financial services provider's stock after buying an additional 7,482 shares during the period. American Century Companies Inc.'s holdings in Brookfield Asset Management were worth $3,964,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Dagco Inc. bought a new stake in shares of Brookfield Asset Management in the first quarter valued at approximately $86,000. Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new stake in shares of Brookfield Asset Management in the first quarter valued at approximately $487,000. HighTower Advisors LLC boosted its stake in shares of Brookfield Asset Management by 4.9% in the first quarter. HighTower Advisors LLC now owns 144,680 shares of the financial services provider's stock valued at $7,010,000 after buying an additional 6,735 shares during the period. AGF Management Ltd. boosted its stake in shares of Brookfield Asset Management by 60.5% in the first quarter. AGF Management Ltd. now owns 1,603,608 shares of the financial services provider's stock valued at $77,742,000 after buying an additional 604,395 shares during the period. Finally, Public Sector Pension Investment Board boosted its stake in shares of Brookfield Asset Management by 1.7% in the first quarter. Public Sector Pension Investment Board now owns 36,336 shares of the financial services provider's stock valued at $1,759,000 after buying an additional 600 shares during the period. 68.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. National Bank Financial assumed coverage on Brookfield Asset Management in a research note on Tuesday, July 29th. They issued an "outperform" rating and a $71.00 price target for the company. JPMorgan Chase & Co. upped their target price on Brookfield Asset Management from $51.00 to $55.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $58.00 target price on shares of Brookfield Asset Management in a research note on Thursday, August 7th. Wells Fargo & Company upped their target price on Brookfield Asset Management from $55.00 to $57.00 and gave the stock an "underweight" rating in a research note on Friday, July 11th. Finally, TD Securities upped their target price on Brookfield Asset Management from $66.00 to $75.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $63.52.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM traded down $0.62 during trading on Thursday, hitting $57.89. 276,680 shares of the company were exchanged, compared to its average volume of 2,053,027. The business's 50 day moving average is $59.65 and its 200-day moving average is $55.32. The company has a market capitalization of $94.81 billion, a P/E ratio of 38.84, a price-to-earnings-growth ratio of 2.20 and a beta of 1.44. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. Brookfield Asset Management Ltd. has a 1-year low of $40.44 and a 1-year high of $64.10.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings results 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 company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%. Equities analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be issued 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 is 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.