Brookfield Asset Management Ltd. $BAM Stake Lifted by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management increased its Brookfield Asset Management stake by 18.8% in the third quarter, bringing its holdings to 276,777 shares valued at approximately $12.3 million. Institutional investors collectively own 68.41% of the company.
• Analysts maintain a generally positive outlook, with Brookfield receiving a “Moderate Buy” consensus rating and an average price target of $57.03, despite several firms recently lowering their targets.
• Brookfield reported quarterly EPS of $0.44, exceeding estimates by $0.01, while revenue reached $1.49 billion. The company also pays a quarterly dividend of $0.5025, representing a 4.4% annualized yield.

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 18.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 276,777 shares of the financial services provider's stock after acquiring an additional 43,748 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Brookfield Asset Management were worth $12,339,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in BAM. Trust Co. of Vermont acquired a new stake in Brookfield Asset Management in the second quarter worth approximately $25,000. Alpine Bank Wealth Management bought a new position in Brookfield Asset Management during the 3rd quarter valued at $26,000. Compass Financial Management LLC bought a new position in Brookfield Asset Management during the 2nd quarter valued at $27,000. Allied Private Wealth LLC acquired a new position in shares of Brookfield Asset Management during the 2nd quarter valued at $40,000. Finally, Root Financial Partners LLC increased its position in shares of Brookfield Asset Management by 184.5% during the 1st quarter. Root Financial Partners LLC now owns 1,283 shares of the financial services provider's stock valued at $57,000 after purchasing an additional 832 shares during the period. Institutional investors and hedge funds own 68.41% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Bank of America dropped their price objective on Brookfield Asset Management from $61.00 to $60.00 and set a "neutral" rating on the stock in a research note on Monday, October 5th. Royal Bank Of Canada set a $65.00 target price on Brookfield Asset Management and gave the company an "outperform" rating in a research note on Friday, September 18th. UBS Group lowered their target price on Brookfield Asset Management from $55.00 to $49.00 and set a "neutral" rating on the stock in a report on Tuesday, October 13th. Scotiabank reiterated an "outperform" rating and issued a $59.00 price target on shares of Brookfield Asset Management in a research report on Thursday, August 6th. Finally, Piper Sandler set a $49.00 price target on shares of Brookfield Asset Management and gave the stock a "neutral" rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $57.03.

Brookfield Asset Management Trading Up 1.7%

Shares of NYSE:BAM opened at $45.96 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $75.29 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 1.86 and a beta of 1.31. Brookfield Asset Management Ltd. has a 1-year low of $42.20 and a 1-year high of $56.37. The company has a 50 day moving average price of $48.07 and a 200 day moving average price of $47.76.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.49 billion for the quarter, compared to analysts' expectations of $1.47 billion. On average, research analysts anticipate that Brookfield Asset Management Ltd. will post 1.78 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, August 31st were issued a $0.5025 dividend. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Monday, August 31st. Brookfield Asset Management's payout ratio is presently 116.86%.

Brookfield Asset Management Profile

Brookfield Asset Management Ltd. NYSE: BAM is a global alternative asset manager that invests in and manages assets on behalf of institutional investors, insurance companies, sovereign wealth funds, financial institutions and private-wealth clients. The company focuses on long-term investments in real assets and businesses, with an emphasis on sectors supported by essential services, economic growth and the transition to a lower-carbon economy.

Its investment activities span renewable power and transition, infrastructure, private equity, real estate and credit.

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