Northwest & Ethical Investments L.P. Buys 5,901 Shares of Brookfield Asset Management Ltd. $BAM

Key Points

• Northwest & Ethical Investments L.P. increased its stake in Brookfield Asset Management by 2.9%, owning 207,252 shares valued at approximately $10.03 million after acquiring an additional 5,901 shares in the first quarter.
• Brookfield reported disappointing quarterly earnings with an EPS of $0.38, missing the forecast of $0.39 per share and generating $1.11 billion in revenue, lower than the anticipated $1.29 billion.
• The company declared a quarterly dividend of $0.4375, translating to a 2.9% dividend yield, scheduled for payment on September 29th.

Northwest & Ethical Investments L.P. lifted its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 207,252 shares of the financial services provider's stock after acquiring an additional 5,901 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Brookfield Asset Management were worth $10,039,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Steward Partners Investment Advisory LLC grew its holdings in Brookfield Asset Management by 6.2% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 104,978 shares of the financial services provider's stock valued at $5,086,000 after purchasing an additional 6,134 shares in the last quarter. Cresset Asset Management LLC grew its holdings in Brookfield Asset Management by 14.0% during the 1st quarter. Cresset Asset Management LLC now owns 11,339 shares of the financial services provider's stock valued at $549,000 after purchasing an additional 1,391 shares in the last quarter. American Century Companies Inc. grew its holdings in Brookfield Asset Management by 10.1% during the 1st quarter. American Century Companies Inc. now owns 81,871 shares of the financial services provider's stock valued at $3,964,000 after purchasing an additional 7,482 shares in the last quarter. Dagco Inc. acquired a new stake in Brookfield Asset Management during the 1st quarter valued at $86,000. Finally, Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new stake in Brookfield Asset Management during the 1st quarter valued at $487,000. Institutional investors and hedge funds own 68.41% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on BAM shares. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $58.00 price target on shares of Brookfield Asset Management in a report on Thursday, August 7th. BMO Capital Markets upped their price target on shares of Brookfield Asset Management from $53.00 to $56.00 and gave the company a "market perform" rating in a report on Thursday, August 7th. Piper Sandler started coverage on shares of Brookfield Asset Management in a research note on Monday, June 30th. They set a "neutral" rating and a $60.00 target price for the company. National Bankshares set a $71.00 target price on shares of Brookfield Asset Management and gave the company an "outperform" rating in a research note on Tuesday, July 29th. Finally, Scotiabank boosted their target price on shares of Brookfield Asset Management from $66.00 to $67.25 and gave the company a "sector outperform" 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 stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $63.33.

Brookfield Asset Management Price Performance

NYSE:BAM traded up $1.9940 during mid-day trading on Friday, reaching $61.0040. 1,014,968 shares of the stock were exchanged, compared to its average volume of 1,638,633. The business has a fifty day moving average price of $58.78 and a 200 day moving average price of $55.18. The firm has a market capitalization of $99.91 billion, a PE ratio of 40.94, a PEG ratio of 2.15 and a beta of 1.44. Brookfield Asset Management Ltd. has a 1-year low of $39.19 and a 1-year high of $64.10. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.14.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). The company had revenue of $1,107,960 billion during the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. Research analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company 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. This represents a $1.75 annualized dividend and a 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%.

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.