Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 10,057 shares of the financial services provider's stock, valued at approximately $487,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cerity Partners LLC grew its holdings in 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 acquiring an additional 7,901 shares during the period. Teacher Retirement System of Texas grew its holdings in 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 acquiring an additional 6,200 shares during the period. Capital A Wealth Management LLC acquired a new stake in Brookfield Asset Management in the fourth quarter valued at $412,000. BNP Paribas Financial Markets acquired a new stake in Brookfield Asset Management in the fourth quarter valued at $183,000. Finally, Intact Investment Management Inc. acquired a new stake in Brookfield Asset Management in the first quarter valued at $6,434,000. Institutional investors and hedge funds own 68.41% of the company's stock.
Analyst Ratings Changes
BAM has been the topic of several research reports. Wells Fargo & Company upped their target price on Brookfield Asset Management from $55.00 to $57.00 and gave the company an "underweight" rating in a report on Friday, July 11th. National Bank Financial initiated coverage on Brookfield Asset Management in a report on Tuesday, July 29th. They issued an "outperform" rating and a $71.00 target price on the stock. CIBC upped their target price on Brookfield Asset Management from $70.00 to $71.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. National Bankshares set a $71.00 target price on Brookfield Asset Management and gave the company an "outperform" rating in a report on Tuesday, July 29th. Finally, Scotiabank upped their target price on Brookfield Asset Management from $66.00 to $67.25 and gave the company a "sector outperform" rating in a report on Thursday, August 7th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Brookfield Asset Management has an average rating of "Moderate Buy" and an average price target of $63.33.
Read Our Latest Report on BAM
Brookfield Asset Management Price Performance
Shares of NYSE:BAM traded down $0.33 on Thursday, hitting $62.18. The company had a trading volume of 1,540,947 shares, compared to its average volume of 2,103,016. The company has a current ratio of 1.25, a quick ratio of 1.31 and a debt-to-equity ratio of 0.14. Brookfield Asset Management Ltd. has a 52-week low of $39.19 and a 52-week high of $64.10. The business has a 50 day moving average of $58.13 and a 200 day moving average of $55.14. The company has a market cap of $100.30 billion, a PE ratio of 41.73, a PEG ratio of 2.26 and a beta of 1.44.
Brookfield Asset Management Dividend Announcement
The firm also recently announced 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. The ex-dividend date is Friday, August 29th. This represents a $1.75 annualized dividend and a yield of 2.8%. Brookfield Asset Management's dividend payout ratio is 117.45%.
Brookfield Asset Management Company Profile
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Free Report)
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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