Brookfield Asset Management Ltd. $BAM Shares Bought by Avior Wealth Management LLC

Key Points

• Avior Wealth Management LLC increased its stake in Brookfield Asset Management by an impressive 2,106.9% in Q2, owning 7,724 shares valued at $427,000.
• Brookfield Asset Management's stock price declined by 2.3%, with the company reporting EPS of $0.38, missing estimates, and a revenue of $1.11 billion compared to the expected $1.29 billion.
• The firm declared a quarterly dividend of $0.4375 per share, resulting in a dividend yield of 3.1%, with a payout ratio of 117.45%.

Avior Wealth Management LLC grew its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 2,106.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,724 shares of the financial services provider's stock after buying an additional 7,374 shares during the quarter. Avior Wealth Management LLC's holdings in Brookfield Asset Management were worth $427,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Kirr Marbach & Co. LLC IN boosted its holdings in Brookfield Asset Management by 0.6% in the first quarter. Kirr Marbach & Co. LLC IN now owns 35,400 shares of the financial services provider's stock valued at $1,715,000 after purchasing an additional 203 shares during the period. Lincoln Capital LLC lifted its holdings in shares of Brookfield Asset Management by 0.9% in the 1st quarter. Lincoln Capital LLC now owns 23,151 shares of the financial services provider's stock valued at $1,145,000 after purchasing an additional 210 shares during the last quarter. Focus Financial Network Inc. increased its position in Brookfield Asset Management by 5.2% in the 1st quarter. Focus Financial Network Inc. now owns 4,442 shares of the financial services provider's stock valued at $215,000 after acquiring an additional 218 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Brookfield Asset Management by 17.4% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,015 shares of the financial services provider's stock valued at $98,000 after acquiring an additional 299 shares during the period. Finally, Advisors Asset Management Inc. increased its position in Brookfield Asset Management by 3.2% in the 1st quarter. Advisors Asset Management Inc. now owns 10,171 shares of the financial services provider's stock valued at $493,000 after acquiring an additional 314 shares during the period. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Down 2.3%

Shares of Brookfield Asset Management stock opened at $56.94 on Wednesday. The business has a 50-day moving average of $60.08 and a 200-day moving average of $55.90. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market capitalization of $93.25 billion, a PE ratio of 38.21, a P/E/G ratio of 2.13 and a beta of 1.44. Brookfield Asset Management Ltd. has a 1-year low of $41.78 and a 1-year high of $64.10.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced 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). Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.29 billion. As a group, equities analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were given a dividend of $0.4375 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.75 annualized dividend and a dividend yield of 3.1%. Brookfield Asset Management's dividend payout ratio (DPR) is presently 117.45%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on BAM shares. CIBC boosted their target price on Brookfield Asset Management from $70.00 to $71.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Piper Sandler lowered their price target on Brookfield Asset Management from $65.00 to $60.00 and set a "neutral" rating on the stock in a report on Thursday, September 11th. BMO Capital Markets upped their target price on Brookfield Asset Management from $53.00 to $56.00 and gave the company a "market perform" rating in a research note on Thursday, August 7th. Wells Fargo & Company increased their price target 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. Finally, TD Securities increased their price target on Brookfield Asset Management from $66.00 to $75.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $63.52.

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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