Brookfield Asset Management Ltd. (NYSE:BAM) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas grew its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 9.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 68,700 shares of the financial services provider's stock after acquiring an additional 6,200 shares during the period. Teacher Retirement System of Texas' holdings in Brookfield Asset Management were worth $3,329,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Cannon Global Investment Management LLC purchased a new stake in shares of Brookfield Asset Management during the first quarter valued at $1,260,000. Rossby Financial LCC purchased a new stake in Brookfield Asset Management during the first quarter valued at about $28,000. Smith Salley Wealth Management lifted its position in shares of Brookfield Asset Management by 0.5% in the 1st quarter. Smith Salley Wealth Management now owns 112,292 shares of the financial services provider's stock valued at $5,441,000 after acquiring an additional 574 shares in the last quarter. Gold Investment Management Ltd. lifted its position in shares of Brookfield Asset Management by 9.8% in the 1st quarter. Gold Investment Management Ltd. now owns 45,979 shares of the financial services provider's stock valued at $2,227,000 after acquiring an additional 4,090 shares in the last quarter. Finally, SOL Capital Management CO lifted its position in shares of Brookfield Asset Management by 62.5% in the 1st quarter. SOL Capital Management CO now owns 51,372 shares of the financial services provider's stock valued at $2,489,000 after acquiring an additional 19,756 shares in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BAM. JPMorgan Chase & Co. increased their target price on Brookfield Asset Management from $51.00 to $55.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Piper Sandler started coverage on Brookfield Asset Management in a research note on Monday, June 30th. They issued a "neutral" rating and a $60.00 price objective for the company. TD Securities increased their price target on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Jefferies Financial Group reduced their price target on shares of Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. Finally, Bank of America raised shares of Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 price target for the company in a research report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Brookfield Asset Management currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.50.

Brookfield Asset Management Price Performance

NYSE BAM opened at $55.21 on Wednesday. Brookfield Asset Management Ltd. has a fifty-two week low of $37.80 and a fifty-two week high of $62.61. The stock's 50-day moving average is $56.07 and its two-hundred day moving average is $54.13. 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 firm has a market cap of $90.41 billion, a P/E ratio of 39.16, a price-to-earnings-growth ratio of 2.09 and a beta of 1.43.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share for the quarter, meeting 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 for the quarter, compared to the consensus estimate of $1.29 billion. On average, analysts anticipate 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 declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 30th were given a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date was Friday, May 30th. 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.

Want to see what other hedge funds are holding BAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A.

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.