Berkshire Asset Management LLC PA Buys Shares of 5,755 Brookfield Asset Management Ltd. $BAM

Key Points

• Berkshire Asset Management LLC has acquired a new stake in Brookfield Asset Management, purchasing 5,755 shares valued at approximately $279,000 during the first quarter.
• Brookfield Asset Management's recent quarterly earnings showed an EPS of $0.38, missing consensus estimates, with revenues of $1.1 billion compared to expected $1.29 billion.
• The company announced a quarterly dividend of $0.4375 per share, representing an annualized dividend of $1.75, with a yield of 2.9% and a payout ratio of 117.45%.

Berkshire Asset Management LLC PA acquired a new stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,755 shares of the financial services provider's stock, valued at approximately $279,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. AGF Management Ltd. raised its holdings in 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 worth $77,742,000 after purchasing an additional 604,395 shares in the last quarter. MUFG Securities EMEA plc bought a new position in Brookfield Asset Management in the first quarter worth about $27,859,000. Vanguard Group Inc. raised its holdings in Brookfield Asset Management by 1.8% in the first quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider's stock worth $832,833,000 after purchasing an additional 302,852 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Brookfield Asset Management during the first quarter worth about $13,438,000. Finally, Bamco Inc. NY grew its stake in shares of Brookfield Asset Management by 22.6% during the fourth quarter. Bamco Inc. NY now owns 1,348,906 shares of the financial services provider's stock worth $73,097,000 after acquiring an additional 248,471 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BAM has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $58.00 price target on shares of Brookfield Asset Management in a report on Thursday, August 7th. Scotiabank upped their target price on Brookfield Asset Management from $66.00 to $67.25 and gave the stock a "sector outperform" rating 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. Jefferies Financial Group upped their target price on Brookfield Asset Management from $55.00 to $62.00 and gave the stock a "hold" rating in a research note on Wednesday, August 13th. Finally, JPMorgan Chase & Co. increased their price objective on Brookfield Asset Management from $51.00 to $55.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $63.33.

Brookfield Asset Management Trading Down 0.7%

Shares of NYSE BAM traded down $0.4450 during mid-day trading on Monday, reaching $60.6150. 553,621 shares of the company's stock were exchanged, compared to its average volume of 2,054,445. The company's 50-day moving average is $58.78 and its 200-day moving average is $55.15. Brookfield Asset Management Ltd. has a 52-week low of $39.19 and a 52-week high of $64.10. The firm has a market capitalization of $99.27 billion, a price-to-earnings ratio of 40.69, a PEG ratio of 2.23 and a beta of 1.44. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.25 and a current ratio of 1.25.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). The company had revenue of $1,107,960 billion during the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. 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 declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a $0.4375 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.75 dividend on an annualized basis and a yield of 2.9%. Brookfield Asset Management's dividend payout ratio (DPR) is currently 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.