Arrowpoint Investment Partners Singapore Pte. Ltd. Takes Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Key Points

• Arrowpoint Investment Partners Singapore Pte. Ltd. has acquired a position in Brookfield Asset Management Ltd. by purchasing 10,057 shares valued at approximately $487,000.
• Brookfield Asset Management announced a quarterly dividend of $0.4375 per share, translating to an annual dividend yield of 2.8%.
• Market analysts have varied ratings for Brookfield Asset Management, with a moderate buy rating and an average price target of $62.33.

Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,057 shares of the financial services provider's stock, valued at approximately $487,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cerity Partners LLC increased its position in shares of Brookfield Asset Management by 36.6% during the first quarter. Cerity Partners LLC now owns 29,482 shares of the financial services provider's stock worth $1,428,000 after purchasing an additional 7,901 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Brookfield Asset Management by 9.9% during the first quarter. Teacher Retirement System of Texas now owns 68,700 shares of the financial services provider's stock worth $3,329,000 after buying an additional 6,200 shares during the last quarter. Capital A Wealth Management LLC purchased a new position in shares of Brookfield Asset Management during the fourth quarter worth about $412,000. BNP Paribas Financial Markets purchased a new position in shares of Brookfield Asset Management during the fourth quarter worth about $183,000. Finally, Intact Investment Management Inc. purchased a new position in shares of Brookfield Asset Management during the first quarter worth about $6,434,000. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BAM has been the topic of a number of research reports. Jefferies Financial Group raised their price target on Brookfield Asset Management from $55.00 to $62.00 and gave the stock a "hold" rating in a report on Wednesday. BMO Capital Markets raised their price target on Brookfield Asset Management from $53.00 to $56.00 and gave the stock a "market perform" rating in a report on Thursday, August 7th. National Bankshares set a $71.00 price target on Brookfield Asset Management and gave the stock an "outperform" rating in a report on Tuesday, July 29th. Royal Bank Of Canada began coverage on Brookfield Asset Management in a report on Wednesday, June 18th. They issued an "outperform" rating and a $72.00 price objective on the stock. Finally, National Bank Financial began coverage on Brookfield Asset Management in a report on Tuesday, July 29th. They issued an "outperform" rating and a $71.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Brookfield Asset Management has an average rating of "Moderate Buy" and an average target price of $63.33.

Brookfield Asset Management Price Performance

Shares of BAM stock traded down $0.71 during midday trading on Friday, reaching $61.40. 920,365 shares of the company traded hands, compared to its average volume of 1,839,362. The firm's 50 day simple moving average is $58.32 and its two-hundred day simple moving average is $55.16. Brookfield Asset Management Ltd. has a 1-year low of $39.19 and a 1-year high of $64.10. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.31. The firm has a market cap of $99.04 billion, a PE ratio of 41.21, a price-to-earnings-growth ratio of 2.27 and a beta of 1.44.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued 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). Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%. The company had revenue of $1,107,960 billion for the quarter, compared to analyst estimates of $1.29 billion. On average, equities 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. Investors of record on Friday, August 29th will be given a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, August 29th. Brookfield Asset Management's payout ratio is currently 117.45%.

Brookfield Asset Management Company 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.