Cerity Partners LLC Increases Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Cerity Partners LLC increased its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 36.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,482 shares of the financial services provider's stock after acquiring an additional 7,901 shares during the period. Cerity Partners LLC's holdings in Brookfield Asset Management were worth $1,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bridges Investment Management Inc. increased its holdings in shares of Brookfield Asset Management by 5.0% in the first quarter. Bridges Investment Management Inc. now owns 13,057 shares of the financial services provider's stock valued at $633,000 after purchasing an additional 618 shares during the period. M&T Bank Corp raised its position in Brookfield Asset Management by 53.1% during the 1st quarter. M&T Bank Corp now owns 37,473 shares of the financial services provider's stock worth $1,815,000 after buying an additional 12,996 shares during the last quarter. Mutual Advisors LLC lifted its stake in Brookfield Asset Management by 11.3% during the 1st quarter. Mutual Advisors LLC now owns 9,350 shares of the financial services provider's stock valued at $495,000 after acquiring an additional 952 shares during the period. Teacher Retirement System of Texas boosted its holdings in shares of Brookfield Asset Management by 9.9% in the 1st quarter. Teacher Retirement System of Texas now owns 68,700 shares of the financial services provider's stock valued at $3,329,000 after acquiring an additional 6,200 shares during the last quarter. Finally, Cannon Global Investment Management LLC purchased a new stake in shares of Brookfield Asset Management in the 1st quarter valued at $1,260,000. Institutional investors and hedge funds own 68.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a research report on Tuesday, April 15th. Morgan Stanley upped their target price on Brookfield Asset Management from $50.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Friday, May 16th. Bank of America upgraded 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. Wells Fargo & Company upped 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. Finally, Royal Bank Of Canada started coverage on shares of Brookfield Asset Management in a research note on Wednesday, June 18th. They set an "outperform" rating and a $72.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $59.64.

Brookfield Asset Management Price Performance

Shares of NYSE BAM traded up $0.86 during trading on Thursday, hitting $63.29. The company had a trading volume of 910,046 shares, compared to its average volume of 2,126,014. Brookfield Asset Management Ltd. has a fifty-two week low of $38.18 and a fifty-two week high of $63.53. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.07. The stock has a fifty day simple moving average of $56.73 and a two-hundred day simple moving average of $54.45. The firm has a market capitalization of $103.63 billion, a price-to-earnings ratio of 44.89, a price-to-earnings-growth ratio of 2.35 and a beta of 1.43.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (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 company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.29 billion. On average, research analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The company 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 yield of 2.77%. The ex-dividend date was Friday, May 30th. Brookfield Asset Management's dividend payout ratio is currently 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.