Brookfield Asset Management Ltd. $BAM Shares Purchased by UMB Bank n.a.

Key Points

• UMB Bank n.a. increased its stake in Brookfield Asset Management by 62.8%, owning 11,671 shares valued at approximately $645,000.
• Brookfield Asset Management reported a Q2 earnings per share (EPS) of $0.38, falling short of analysts’ estimates of $0.39.
• The company announced a quarterly dividend of $0.4375, representing an annualized dividend of $1.75 and a yield of 2.9%.

UMB Bank n.a. boosted its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 62.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,671 shares of the financial services provider's stock after buying an additional 4,500 shares during the period. UMB Bank n.a.'s holdings in Brookfield Asset Management were worth $645,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of BAM. Vanguard Group Inc. grew its holdings in Brookfield Asset Management by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider's stock valued at $832,833,000 after buying an additional 302,852 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Brookfield Asset Management by 58.9% in the first quarter. The Manufacturers Life Insurance Company now owns 3,360,125 shares of the financial services provider's stock valued at $163,354,000 after purchasing an additional 1,246,011 shares during the last quarter. Douglass Winthrop Advisors LLC lifted its holdings in shares of Brookfield Asset Management by 0.5% during the 1st quarter. Douglass Winthrop Advisors LLC now owns 2,672,065 shares of the financial services provider's stock valued at $129,342,000 after purchasing an additional 14,498 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Brookfield Asset Management by 107.4% in the first 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 in the last quarter. Finally, Bank of Nova Scotia increased its position in Brookfield Asset Management by 1.2% during the first quarter. Bank of Nova Scotia now owns 2,269,833 shares of the financial services provider's stock worth $109,913,000 after buying an additional 27,913 shares during the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM traded up $1.46 during trading on Monday, hitting $61.48. The company's stock had a trading volume of 1,819,370 shares, compared to its average volume of 2,239,304. 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 firm has a market cap of $100.69 billion, a price-to-earnings ratio of 41.26, a P/E/G ratio of 2.19 and a beta of 1.44. The company has a 50-day moving average of $60.14 and a 200-day moving average of $55.38. Brookfield Asset Management Ltd. has a 12 month low of $41.78 and a 12 month 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 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.29 billion. On average, sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Asset Management's dividend payout ratio is presently 117.45%.

Analysts Set New Price Targets

Several analysts recently commented on BAM shares. 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 report on Thursday, August 7th. Royal Bank Of Canada began coverage on shares of Brookfield Asset Management in a report on Wednesday, June 18th. They issued an "outperform" rating and a $72.00 price objective for the company. CIBC upped their target price on shares of Brookfield Asset Management from $70.00 to $71.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. TD Securities raised 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. Finally, National Bank Financial started coverage on Brookfield Asset Management in a research note on Tuesday, July 29th. They issued an "outperform" rating and a $71.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $63.52.

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.