Brookfield Asset Management Ltd. $BAM Stock Position Lifted by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Brookfield Asset Management by 373.3%, owning 199,036 shares worth approximately $11 million.
• Analysts have mixed ratings on Brookfield Asset Management, with an average target price of $63.52 and two analysts rating it as a Strong Buy.
• Brookfield recently declared a quarterly dividend of $0.4375 per share, resulting in an annual yield of 3.0%, despite a payout ratio of 117.45%.

Public Employees Retirement System of Ohio lifted its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 373.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 199,036 shares of the financial services provider's stock after buying an additional 156,979 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Brookfield Asset Management were worth $11,001,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Cerity Partners LLC lifted its stake in shares of Brookfield Asset Management by 36.6% in the first quarter. Cerity Partners LLC now owns 29,482 shares of the financial services provider's stock worth $1,428,000 after buying an additional 7,901 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Brookfield Asset Management by 9.9% in the first quarter. Teacher Retirement System of Texas now owns 68,700 shares of the financial services provider's stock worth $3,329,000 after buying an additional 6,200 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Brookfield Asset Management by 1.8% in the first quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider's stock worth $832,833,000 after buying an additional 302,852 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Brookfield Asset Management in the first quarter worth $629,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Brookfield Asset Management in the fourth quarter worth $183,000. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $58.00 price objective on shares of Brookfield Asset Management in a research note on Thursday, August 7th. Piper Sandler dropped their target price on shares of Brookfield Asset Management from $65.00 to $60.00 and set a "neutral" rating on the stock in a research report on Thursday, September 11th. Wells Fargo & Company boosted their target price on shares of Brookfield Asset Management from $55.00 to $57.00 and gave the stock an "underweight" rating in a research report on Friday, July 11th. CIBC boosted their target price on shares of Brookfield Asset Management from $70.00 to $71.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, Jefferies Financial Group boosted their target price on shares of Brookfield Asset Management from $55.00 to $62.00 and gave the stock a "hold" rating in a research report on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $63.52.

Brookfield Asset Management Trading Up 0.1%

Shares of Brookfield Asset Management stock opened at $58.09 on Friday. The firm has a market capitalization of $95.14 billion, a PE ratio of 38.99, a price-to-earnings-growth ratio of 2.12 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. The company's fifty day moving average price is $60.20 and its two-hundred day moving average price is $55.69. Brookfield Asset Management Ltd. has a 52-week low of $41.78 and a 52-week high of $64.10.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.29 billion. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. On average, analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Dividend Announcement

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

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.

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