Brookfield Asset Management Ltd. $BAM Shares Bought by Northern Trust Corp

Key Points

• Northern Trust Corp increased its stake in Brookfield Asset Management by 31.5% during the first quarter, owning a total of 560,827 shares worth approximately $27.17 million.
• Brookfield Asset Management reported a net margin of 55.92% and earnings per share of $0.38, slightly below analysts' expectations of $0.39.
• The company recently announced a quarterly dividend of $0.4375, with an annualized dividend yield of 2.9% and a payout ratio of 117.45%.

Northern Trust Corp increased its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 31.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 560,827 shares of the financial services provider's stock after purchasing an additional 134,233 shares during the period. Northern Trust Corp's holdings in Brookfield Asset Management were worth $27,172,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC lifted its holdings in Brookfield Asset Management by 274.0% during the 4th quarter. Barclays PLC now owns 7,492 shares of the financial services provider's stock valued at $406,000 after purchasing an additional 5,489 shares during the last quarter. NewEdge Advisors LLC increased its position in Brookfield Asset Management by 61.0% in the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock valued at $47,000 after acquiring an additional 325 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Brookfield Asset Management by 6.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,910 shares of the financial services provider's stock worth $754,000 after buying an additional 882 shares during the period. Ameriprise Financial Inc. boosted its holdings in Brookfield Asset Management by 139.2% during the fourth quarter. Ameriprise Financial Inc. now owns 406,376 shares of the financial services provider's stock worth $22,237,000 after purchasing an additional 236,495 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in Brookfield Asset Management during the fourth quarter worth $183,000. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Trading Up 0.5%

Shares of NYSE:BAM traded up $0.30 during mid-day trading on Thursday, hitting $58.81. The company had a trading volume of 945,844 shares, compared to its average volume of 2,056,964. The firm has a fifty day moving average price of $59.65 and a 200 day moving average price of $55.32. The company has a market capitalization of $96.32 billion, a PE ratio of 39.34, a price-to-earnings-growth ratio of 2.20 and a beta of 1.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.25. Brookfield Asset Management Ltd. has a one year low of $40.44 and a one year high of $64.10.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). The firm had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.29 billion. Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%. As a group, research analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a $0.4375 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.75 dividend on an annualized basis and a yield of 3.0%. Brookfield Asset Management's payout ratio is 117.45%.

Analyst Ratings Changes

Several analysts have issued reports on BAM shares. Morgan Stanley upped their price target on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the stock an "equal weight" rating in a research report on Friday, May 16th. Scotiabank increased their price objective on shares of Brookfield Asset Management from $66.00 to $67.25 and gave the company a "sector outperform" rating in a research report on Thursday, August 7th. National Bank Financial began coverage on shares of Brookfield Asset Management in a research report on Tuesday, July 29th. They issued an "outperform" rating and a $71.00 price objective on the stock. Piper Sandler began coverage on shares of Brookfield Asset Management in a research report on Monday, June 30th. They issued a "neutral" rating and a $60.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $58.00 price objective on shares of Brookfield Asset Management in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Brookfield Asset Management has a consensus rating of "Moderate Buy" and a consensus price target of $63.52.

Brookfield Asset Management Company 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.