Brookfield Asset Management Ltd. $BAM Shares Bought by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

Key Points

• British Columbia Investment Management Corp increased its holdings in Brookfield Asset Management by 975.9%, owning approximately 1.77 million shares valued at $85.46 million as of its latest SEC filing.
• Brookfield Asset Management is expected to post an EPS of 1.7 for the current fiscal year, with the last reported quarterly EPS being $0.38, missing estimates.
• The company announced a quarterly dividend of $0.4375 per share, resulting in an annualized yield of 2.9%, with a payout ratio of 117.45%.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 975.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,765,220 shares of the financial services provider's stock after acquiring an additional 1,601,155 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.11% of Brookfield Asset Management worth $85,463,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in BAM. Rossby Financial LCC purchased a new position in shares of Brookfield Asset Management during the 1st quarter valued at $28,000. ST Germain D J Co. Inc. bought a new position in shares of Brookfield Asset Management in the first quarter worth about $26,000. NewEdge Advisors LLC grew its position in shares of Brookfield Asset Management by 61.0% during the fourth quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock worth $47,000 after purchasing an additional 325 shares in the last quarter. Kapitalo Investimentos Ltda bought a new stake in Brookfield Asset Management during the 4th quarter valued at approximately $54,000. Finally, Larson Financial Group LLC lifted its holdings in Brookfield Asset Management by 1,079.6% in the 1st quarter. Larson Financial Group LLC now owns 1,097 shares of the financial services provider's stock worth $53,000 after purchasing an additional 1,004 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Trading Up 0.4%

NYSE:BAM traded up $0.25 during mid-day trading on Wednesday, hitting $60.47. 3,312,728 shares of the stock traded hands, compared to its average volume of 2,068,610. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $99.03 billion, a price-to-earnings ratio of 40.58, a PEG ratio of 2.19 and a beta of 1.44. Brookfield Asset Management Ltd. has a 52 week low of $39.19 and a 52 week high of $64.10. The firm's 50 day moving average is $59.02 and its two-hundred day moving average is $55.20.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its earnings results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). The business had revenue of $1,107,960 billion for the quarter, compared to the consensus estimate of $1.29 billion. Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%. On average, equities 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, September 29th. Shareholders 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 of this dividend is Friday, August 29th. Brookfield Asset Management's dividend payout ratio is presently 117.45%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BAM. Wells Fargo & Company boosted their target price on shares of Brookfield Asset Management from $55.00 to $57.00 and gave the stock an "underweight" rating in a report on Friday, July 11th. National Bank Financial began coverage on shares of Brookfield Asset Management in a research note on Tuesday, July 29th. They issued an "outperform" rating and a $71.00 price target on the stock. Piper Sandler assumed coverage on shares of Brookfield Asset Management in a report on Monday, June 30th. They set a "neutral" rating and a $60.00 price objective for the company. Royal Bank Of Canada initiated coverage on Brookfield Asset Management in a research report on Wednesday, June 18th. They issued an "outperform" rating and a $72.00 target price on the stock. Finally, BMO Capital Markets lifted their price objective on Brookfield Asset Management from $53.00 to $56.00 and gave the stock a "market perform" rating in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Brookfield Asset Management presently has a consensus rating of "Moderate Buy" and an average target price of $63.33.

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.