Blue Zone Wealth Advisors LLC Has $8.33 Million Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Blue Zone Wealth Advisors LLC lifted its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 13.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 171,939 shares of the financial services provider's stock after acquiring an additional 19,832 shares during the period. Brookfield Asset Management makes up 2.3% of Blue Zone Wealth Advisors LLC's holdings, making the stock its 7th biggest holding. Blue Zone Wealth Advisors LLC's holdings in Brookfield Asset Management were worth $8,330,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of BAM. Bank of Montreal Can increased its position in shares of Brookfield Asset Management by 3.7% during the fourth quarter. Bank of Montreal Can now owns 9,575,446 shares of the financial services provider's stock valued at $518,655,000 after acquiring an additional 339,072 shares during the last quarter. TD Asset Management Inc. grew its stake in Brookfield Asset Management by 8.9% in the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider's stock valued at $903,323,000 after buying an additional 1,359,126 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Brookfield Asset Management by 30.5% in the fourth quarter. American Century Companies Inc. now owns 74,389 shares of the financial services provider's stock worth $4,033,000 after acquiring an additional 17,369 shares during the period. Laffer Tengler Investments Inc. raised its stake in shares of Brookfield Asset Management by 24.2% during the 4th quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider's stock valued at $8,008,000 after purchasing an additional 28,768 shares during the period. Finally, Plato Investment Management Ltd lifted its holdings in shares of Brookfield Asset Management by 173.7% in the fourth quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider's stock worth $564,000 after buying an additional 6,580 shares in the last quarter. Institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM opened at $57.55 on Friday. The business has a 50-day simple moving average of $53.01 and a two-hundred day simple moving average of $54.39. The firm has a market cap of $92.80 billion, a price-to-earnings ratio of 43.60, a price-to-earnings-growth ratio of 1.92 and a beta of 1.51. Brookfield Asset Management Ltd. has a fifty-two week low of $37.29 and a fifty-two week high of $62.61.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.40. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.29 billion. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. As a group, research analysts predict 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 will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Asset Management's dividend payout ratio is currently 124.11%.

Analyst Ratings Changes

A number of brokerages recently weighed in on BAM. HSBC raised shares of Brookfield Asset Management from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Bank of America raised shares of Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 price target for the company in a research report on Thursday, April 10th. TD Securities upped their target price on Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Jefferies Financial Group cut their price objective on Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. Finally, BMO Capital Markets upped their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a "market perform" rating in a research report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $59.15.

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.

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