Ancora Advisors LLC Buys New Shares in Brookfield Asset Management Ltd. $BAM

Ancora Advisors LLC purchased a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,184 shares of the financial services provider's stock, valued at approximately $995,000.

Several other large investors also recently modified their holdings of BAM. Vanguard Group Inc. increased its position in Brookfield Asset Management by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 17,723,182 shares of the financial services provider's stock worth $928,414,000 after acquiring an additional 297,790 shares during the period. TD Asset Management Inc increased its position in Brookfield Asset Management by 2.0% in the 4th quarter. TD Asset Management Inc now owns 15,769,066 shares of the financial services provider's stock valued at $827,135,000 after acquiring an additional 315,036 shares during the period. Principal Financial Group Inc. raised its position in shares of Brookfield Asset Management by 62.0% during the first quarter. Principal Financial Group Inc. now owns 12,735,547 shares of the financial services provider's stock worth $566,092,000 after acquiring an additional 4,872,090 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Brookfield Asset Management by 15.6% during the first quarter. The Manufacturers Life Insurance Company now owns 5,319,506 shares of the financial services provider's stock worth $236,308,000 after buying an additional 716,892 shares during the last quarter. Finally, Norges Bank bought a new stake in Brookfield Asset Management in the fourth quarter worth approximately $263,444,000. 68.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on BAM shares. National Bank Financial upped their target price on Brookfield Asset Management from $69.00 to $70.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. Piper Sandler reiterated a "neutral" rating and issued a $50.00 target price (up from $48.00) on shares of Brookfield Asset Management in a research note on Monday, May 18th. Canadian Imperial Bank of Commerce set a $62.50 price target on shares of Brookfield Asset Management in a report on Monday, May 11th. JPMorgan Chase & Co. reduced their price objective on Brookfield Asset Management from $72.00 to $60.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 6th. Finally, Scotiabank reissued an "outperform" rating and set a $59.00 price objective on shares of Brookfield Asset Management in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $59.32.

Brookfield Asset Management Price Performance

NYSE BAM opened at $52.10 on Friday. Brookfield Asset Management Ltd. has a one year low of $42.20 and a one year high of $62.57. The stock has a 50-day moving average of $49.00 and a 200 day moving average of $47.86. The company has a market capitalization of $85.36 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 2.13 and a beta of 1.26. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The business had revenue of $1.49 billion for the quarter, compared to analysts' expectations of $1.47 billion. Brookfield Asset Management had a net margin of 48.89% and a return on equity of 31.50%. On average, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.78 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a $0.5025 dividend. This represents a $2.01 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Monday, August 31st. Brookfield Asset Management's payout ratio is 116.86%.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company's products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.

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