Brookfield Asset Management Ltd. $BAM Shares Acquired by Baird Financial Group Inc.

Key Points

• Baird Financial Group increased its Brookfield Asset Management position by 131.4% in the second quarter, ending with 45,809 shares valued at approximately $2.05 million. Institutional investors and hedge funds collectively own 68.41% of the company.
• Brookfield Asset Management reported quarterly EPS of $0.44, slightly above the $0.43 analyst consensus, while revenue reached $1.49 billion versus estimates of $1.47 billion.
• The company declared a quarterly dividend of $0.5025, equivalent to an annualized $2.01 payout and a 4.4% yield. Analysts have a consensus “Hold” rating and an average price target of $58.65.

Baird Financial Group Inc. lifted its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 131.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,809 shares of the financial services provider's stock after purchasing an additional 26,011 shares during the quarter. Baird Financial Group Inc.'s holdings in Brookfield Asset Management were worth $2,054,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BAM. Crescent Grove Advisors LLC raised its holdings in shares of Brookfield Asset Management by 4.3% during the fourth quarter. Crescent Grove Advisors LLC now owns 4,800 shares of the financial services provider's stock worth $251,000 after purchasing an additional 200 shares during the last quarter. Foundations Investment Advisors LLC boosted its holdings in Brookfield Asset Management by 1.3% in the fourth quarter. Foundations Investment Advisors LLC now owns 17,165 shares of the financial services provider's stock valued at $899,000 after purchasing an additional 226 shares during the last quarter. Cullen Frost Bankers Inc. boosted its holdings in Brookfield Asset Management by 29.6% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,096 shares of the financial services provider's stock valued at $57,000 after purchasing an additional 250 shares during the last quarter. Hanson & Doremus Investment Management grew its position in Brookfield Asset Management by 19.3% during the 1st quarter. Hanson & Doremus Investment Management now owns 1,548 shares of the financial services provider's stock worth $69,000 after purchasing an additional 250 shares during the period. Finally, Clearstead Advisors LLC grew its position in Brookfield Asset Management by 0.6% during the 4th quarter. Clearstead Advisors LLC now owns 43,847 shares of the financial services provider's stock worth $2,297,000 after purchasing an additional 260 shares during the period. Institutional investors and hedge funds own 68.41% of the company's stock.

Brookfield Asset Management Stock Up 0.5%

Brookfield Asset Management stock opened at $45.42 on Friday. The stock has a market capitalization of $74.40 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 1.85 and a beta of 1.27. Brookfield Asset Management Ltd. has a 12 month low of $42.20 and a 12 month high of $62.57. The business has a 50 day simple moving average of $49.84 and a 200-day simple moving average of $47.63. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. Brookfield Asset Management had a return on equity of 31.50% and a net margin of 48.89%.The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.47 billion. On average, analysts anticipate that Brookfield Asset Management Ltd. will post 1.77 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a $0.5025 dividend. The ex-dividend date is Monday, August 31st. This represents a $2.01 annualized dividend and a dividend yield of 4.4%. Brookfield Asset Management's dividend payout ratio (DPR) is 116.86%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BAM shares. Morgan Stanley set a $56.00 price objective on Brookfield Asset Management and gave the company an "equal weight" rating in a report on Tuesday, July 21st. National Bank Financial raised their target price on Brookfield Asset Management from $69.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Scotia lifted their price target on Brookfield Asset Management from $57.00 to $59.00 and gave the company a "sector outperform" rating in a research report on Thursday, August 6th. Wall Street Zen upgraded Brookfield Asset Management from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, UBS Group boosted their price target on Brookfield Asset Management from $48.00 to $55.00 and gave the company a "neutral" rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management presently has a consensus rating of "Hold" and an average target price of $58.65.

About Brookfield Asset Management

Brookfield Asset Management Ltd. is a global alternative asset manager that provides investment management services to institutional investors, governments, financial institutions and private-wealth clients. The company manages and invests capital on behalf of clients through a range of private and public investment strategies.

Its principal investment businesses include real estate, infrastructure, renewable power and transition, private equity, and credit. Brookfield seeks to invest in high-quality assets and businesses, often taking an active ownership and operating role.

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