Brookfield Asset Management Ltd. (NYSE:BAM) Position Boosted by Malaga Cove Capital LLC

Key Points

• Malaga Cove Capital LLC increased its stake in Brookfield Asset Management Ltd. by 71%, owning 16,575 shares valued at approximately $803,000 as of the latest SEC filing.
• The company's stock has a market cap of $97.95 billion and a 12-month price range of $38.18 to $63.53, indicating significant fluctuations in share value.
• Brookfield Asset Management declared a quarterly dividend of $0.4375 per share, resulting in a 2.9% yield, with a payout ratio of 124.11%.

Malaga Cove Capital LLC lifted its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 71.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,575 shares of the financial services provider's stock after purchasing an additional 6,883 shares during the period. Malaga Cove Capital LLC's holdings in Brookfield Asset Management were worth $803,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Kirr Marbach & Co. LLC IN lifted its position in shares of Brookfield Asset Management by 0.6% during the first quarter. Kirr Marbach & Co. LLC IN now owns 35,400 shares of the financial services provider's stock worth $1,715,000 after purchasing an additional 203 shares during the last quarter. RE Dickinson Investment Advisors LLC boosted its stake in Brookfield Asset Management by 3.2% in the fourth quarter. RE Dickinson Investment Advisors LLC now owns 6,962 shares of the financial services provider's stock valued at $377,000 after acquiring an additional 215 shares during the period. Focus Financial Network Inc. boosted its stake in Brookfield Asset Management by 5.2% in the first quarter. Focus Financial Network Inc. now owns 4,442 shares of the financial services provider's stock valued at $215,000 after acquiring an additional 218 shares during the period. NewEdge Advisors LLC boosted its stake in Brookfield Asset Management by 61.0% in the fourth 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 during the period. Finally, Capital International Ltd. CA boosted its stake in Brookfield Asset Management by 0.3% in the fourth quarter. Capital International Ltd. CA now owns 161,077 shares of the financial services provider's stock valued at $8,729,000 after acquiring an additional 477 shares during the period. Institutional investors own 68.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Royal Bank Of Canada assumed coverage on Brookfield Asset Management in a research note on Wednesday, June 18th. They issued an "outperform" rating and a $72.00 target price for the company. Jefferies Financial Group decreased their target price on Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. Wall Street Zen upgraded Brookfield Asset Management from a "sell" rating to a "hold" rating in a research note on Tuesday, April 15th. National Bankshares set a $71.00 target price on Brookfield Asset Management and gave the company an "outperform" rating in a research note on Tuesday. Finally, TD Securities lifted their price target on Brookfield Asset Management from $66.00 to $75.00 and gave the company a "buy" rating in a report on Monday, July 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $62.06.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM opened at $59.81 on Friday. Brookfield Asset Management Ltd. has a 12 month low of $38.18 and a 12 month high of $63.53. The stock has a market cap of $97.95 billion, a price-to-earnings ratio of 42.42, a PEG ratio of 2.38 and a beta of 1.44. The stock's 50 day moving average price is $57.27 and its 200 day moving average price is $54.85. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.31 and a quick ratio of 1.31.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, hitting the consensus estimate of $0.40. Brookfield Asset Management had a return on equity of 52.70% and a net margin of 55.26%. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.29 billion. Equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 30th were issued a dividend of $0.4375 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.75 annualized dividend and a yield of 2.9%. Brookfield Asset Management's payout ratio is presently 124.11%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.