Blair William & Co. IL Purchases 6,140 Shares of Brookfield Asset Management Ltd. $BAM

Key Points

• Blair William & Co. IL increased its holdings in Brookfield Asset Management by 26.7%, acquiring an additional 6,140 shares, which brought their total to 29,095 shares valued at $1,608,000.
• Brookfield Asset Management reported $0.38 earnings per share (EPS) for the recent quarter, slightly below the consensus estimate of $0.39, with a decline in revenue compared to expectations.
• The company announced a quarterly dividend of $0.4375, resulting in an annualized dividend yield of 3.1%, despite a payout ratio exceeding 117%.

Blair William & Co. IL increased its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 26.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,095 shares of the financial services provider's stock after acquiring an additional 6,140 shares during the quarter. Blair William & Co. IL's holdings in Brookfield Asset Management were worth $1,608,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Brookfield Asset Management by 975.9% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,765,220 shares of the financial services provider's stock worth $85,463,000 after purchasing an additional 1,601,155 shares during the period. Millennium Management LLC increased its holdings in shares of Brookfield Asset Management by 461.5% during the 1st quarter. Millennium Management LLC now owns 1,722,683 shares of the financial services provider's stock worth $83,464,000 after purchasing an additional 1,415,866 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Brookfield Asset Management by 58.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 3,360,125 shares of the financial services provider's stock worth $163,354,000 after purchasing an additional 1,246,011 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Brookfield Asset Management by 107.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,363,192 shares of the financial services provider's stock worth $114,497,000 after purchasing an additional 1,224,012 shares during the period. Finally, AGF Management Ltd. increased its holdings in shares of Brookfield Asset Management by 60.5% during the 1st 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 during the period. Institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Stock Down 0.8%

Shares of NYSE:BAM opened at $56.52 on Wednesday. Brookfield Asset Management Ltd. has a 52 week low of $41.78 and a 52 week high of $64.10. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market capitalization of $92.57 billion, a PE ratio of 37.93, a PEG ratio of 2.11 and a beta of 1.39. The company has a 50 day moving average price of $59.10 and a two-hundred day moving average price of $56.42.

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 $1.11 billion for the quarter, compared to the consensus estimate of $1.29 billion. Analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were paid a $0.4375 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.75 dividend on an annualized basis and a yield of 3.1%. Brookfield Asset Management's dividend payout ratio (DPR) is currently 117.45%.

Analyst Upgrades and Downgrades

BAM has been the topic of several research reports. Scotiabank boosted their price objective on shares of Brookfield Asset Management from $66.00 to $67.25 and gave the stock a "sector outperform" rating in a report on Thursday, August 7th. Bank of America cut shares of Brookfield Asset Management from a "buy" rating to a "neutral" rating and set a $68.00 target price on the stock. in a research note on Thursday, September 4th. National Bankshares set a $71.00 target price on shares of Brookfield Asset Management and gave the company an "outperform" rating in a research note on Tuesday, July 29th. Wells Fargo & Company upped their target price on shares of Brookfield Asset Management from $55.00 to $57.00 and gave the company an "underweight" rating in a research note on Friday, July 11th. Finally, TD Securities upped their target price on shares of Brookfield Asset Management from $66.00 to $75.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $64.02.

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.

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