Cannon Global Investment Management LLC Makes New Investment in Brookfield Asset Management Ltd. (NYSE:BAM)

Cannon Global Investment Management LLC acquired a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 26,000 shares of the financial services provider's stock, valued at approximately $1,260,000. Brookfield Asset Management makes up about 2.2% of Cannon Global Investment Management LLC's portfolio, making the stock its 5th biggest holding.

A number of other hedge funds have also made changes to their positions in the business. ST Germain D J Co. Inc. acquired a new stake in Brookfield Asset Management during the 1st quarter worth $26,000. Truvestments Capital LLC increased its position in shares of Brookfield Asset Management by 487.2% during the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider's stock worth $27,000 after purchasing an additional 419 shares in the last quarter. Rossby Financial LCC acquired a new stake in shares of Brookfield Asset Management during the first quarter worth about $28,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Brookfield Asset Management in the 4th quarter valued at about $32,000. Finally, NewEdge Advisors LLC boosted its position in shares of Brookfield Asset Management by 61.0% in 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. Hedge funds and other institutional investors own 68.41% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BAM. JPMorgan Chase & Co. boosted their price objective on Brookfield Asset Management from $51.00 to $55.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Bank of America raised shares of Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 target price on the stock in a report on Thursday, April 10th. Piper Sandler initiated coverage on shares of Brookfield Asset Management in a research note on Monday. They set a "neutral" rating and a $60.00 price target for the company. Wells Fargo & Company raised their price objective on shares of Brookfield Asset Management from $54.00 to $55.00 and gave the stock an "underweight" rating in a research report on Friday, May 23rd. Finally, Jefferies Financial Group reduced their target price on shares of Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. 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 company's stock. According to data from MarketBeat.com, Brookfield Asset Management has a consensus rating of "Moderate Buy" and an average price target of $59.50.

Brookfield Asset Management Stock Up 1.0%

BAM opened at $55.49 on Thursday. 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 Ltd. has a 12 month low of $37.80 and a 12 month high of $62.61. The stock has a market capitalization of $90.86 billion, a P/E ratio of 39.35, a P/E/G ratio of 2.06 and a beta of 1.43. The business has a 50 day simple moving average of $55.82 and a 200-day simple moving average of $54.13.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, meeting analysts' consensus estimates of $0.40. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.29 billion. Brookfield Asset Management had a return on equity of 52.70% and a net margin of 55.26%. On average, equities 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 business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 30th were paid a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Friday, May 30th. Brookfield Asset Management's dividend payout ratio (DPR) 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.

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