Carson Advisory Inc. Invests $371,000 in Brookfield Asset Management Ltd. (NYSE:BAM)

Carson Advisory Inc. purchased a new stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 7,650 shares of the financial services provider's stock, valued at approximately $371,000.

A number of other hedge funds have also recently added to or reduced their stakes in BAM. ST Germain D J Co. Inc. acquired a new stake in Brookfield Asset Management in the 1st quarter worth approximately $26,000. Rossby Financial LCC bought a new position in shares of Brookfield Asset Management in the first quarter valued at approximately $28,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Brookfield Asset Management in the fourth quarter worth $32,000. NewEdge Advisors LLC boosted its holdings in shares of Brookfield Asset Management by 61.0% during the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock worth $47,000 after buying an additional 325 shares during the period. Finally, Larson Financial Group LLC grew its stake in Brookfield Asset Management by 1,079.6% in the 1st quarter. Larson Financial Group LLC now owns 1,097 shares of the financial services provider's stock valued at $53,000 after buying an additional 1,004 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BAM shares. Wall Street Zen upgraded shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a report on Tuesday, April 15th. JPMorgan Chase & Co. lifted their price target on Brookfield Asset Management from $51.00 to $55.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Wells Fargo & Company raised their price objective on shares of Brookfield Asset Management from $55.00 to $57.00 and gave the stock an "underweight" rating in a research note on Friday, July 11th. Morgan Stanley lifted their target price on Brookfield Asset Management from $50.00 to $54.00 and gave the stock an "equal weight" rating in a research report on Friday, May 16th. Finally, Jefferies Financial Group cut their price target on 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 assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Brookfield Asset Management presently has an average rating of "Moderate Buy" and an average target price of $59.64.

Brookfield Asset Management Trading Down 1.2%

Shares of BAM stock traded down $0.73 on Friday, reaching $60.76. 1,549,618 shares of the stock were exchanged, compared to its average volume of 1,628,740. Brookfield Asset Management Ltd. has a one year low of $38.18 and a one year high of $62.61. The stock has a market cap of $99.49 billion, a PE ratio of 43.09, a P/E/G ratio of 2.35 and a beta of 1.43. 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 stock has a 50 day moving average price of $56.56 and a 200 day moving average price of $54.31.

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 (EPS) for the quarter, meeting analysts' consensus estimates of $0.40. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.29 billion. Equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.88%. Brookfield Asset Management's payout ratio is presently 124.11%.

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.