Texas Yale Capital Corp. Has $4.47 Million Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Key Points

• Texas Yale Capital Corp. increased its holdings in Brookfield Asset Management by 23.4%, bringing its total shares to 92,260 valued at approximately $4.47 million.
• Brookfield Asset Management declared a quarterly dividend of $0.4375 per share, resulting in an annualized payout of $1.75 with a dividend yield of 2.78%.
• Analysts have provided varied ratings for Brookfield Asset Management, with a consensus rating of "Moderate Buy" and an average target price of $59.64.

Texas Yale Capital Corp. boosted its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 23.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 92,260 shares of the financial services provider's stock after purchasing an additional 17,506 shares during the quarter. Texas Yale Capital Corp.'s holdings in Brookfield Asset Management were worth $4,470,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BAM. ST Germain D J Co. Inc. bought a new stake in Brookfield Asset Management during the 1st quarter valued at approximately $26,000. Rossby Financial LCC bought a new stake in Brookfield Asset Management during the 1st quarter valued at approximately $28,000. NewEdge Advisors LLC boosted its stake in Brookfield Asset Management by 61.0% during the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 325 shares during the period. Larson Financial Group LLC boosted its stake in Brookfield Asset Management by 1,079.6% during the 1st quarter. Larson Financial Group LLC now owns 1,097 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 1,004 shares during the period. Finally, Kapitalo Investimentos Ltda bought a new stake in Brookfield Asset Management during the 4th quarter valued at approximately $54,000. Institutional investors own 68.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BAM. Scotiabank raised their price objective on Brookfield Asset Management from $58.00 to $59.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Piper Sandler began coverage on Brookfield Asset Management in a research report on Monday, June 30th. They issued a "neutral" rating and a $60.00 price objective for the company. Wells Fargo & Company raised their price objective on Brookfield Asset Management from $55.00 to $57.00 and gave the stock an "underweight" rating in a research report on Friday, July 11th. Bank of America upgraded Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 price objective for the company in a research report on Thursday, April 10th. Finally, Royal Bank Of Canada began coverage on Brookfield Asset Management in a research report on Wednesday, June 18th. They issued an "outperform" rating and a $72.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Brookfield Asset Management presently has a consensus rating of "Moderate Buy" and an average price target of $59.64.

Brookfield Asset Management Price Performance

Shares of BAM traded down $0.16 during mid-day trading on Friday, reaching $63.03. The company had a trading volume of 1,263,949 shares, compared to its average volume of 1,739,126. Brookfield Asset Management Ltd. has a twelve month low of $38.18 and a twelve month high of $63.53. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.31 and a quick ratio of 1.31. The company's 50-day moving average is $56.87 and its 200-day moving average is $54.55. The company has a market capitalization of $103.22 billion, a P/E ratio of 44.70, a P/E/G ratio of 2.44 and a beta of 1.43.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.40. Brookfield Asset Management had a return on equity of 52.70% and a net margin of 55.26%. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.29 billion. On average, equities analysts anticipate 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 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 was Friday, May 30th. This represents a $1.75 dividend on an annualized basis and a yield of 2.78%. Brookfield Asset Management's dividend payout ratio is 124.11%.

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.