Cetera Investment Advisers Acquires 11,008 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Key Points

• Cetera Investment Advisers increased its holdings in Brookfield Asset Management by 37.9%, purchasing 11,008 additional shares and bringing total ownership to 40,042 shares valued at approximately $1.94 million.
• Multiple hedge funds, including Capital International Investors and Bank of America Corp DE, also raised their stakes in Brookfield, indicating strong institutional interest with 68.41% of shares owned by institutional investors.
• Brookfield Asset Management announced a quarterly dividend of $0.4375, representing a yield of 2.9%, while analysts have given the stock a consensus rating of "Moderate Buy" and a target price of $62.33.

Cetera Investment Advisers raised its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 37.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,042 shares of the financial services provider's stock after purchasing an additional 11,008 shares during the quarter. Cetera Investment Advisers' holdings in Brookfield Asset Management were worth $1,938,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of BAM. ST Germain D J Co. Inc. bought a new position in Brookfield Asset Management during the 1st quarter worth $26,000. Rossby Financial LCC bought a new position in Brookfield Asset Management during the 1st quarter worth $28,000. NewEdge Advisors LLC raised its position 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 worth $47,000 after purchasing an additional 325 shares during the last quarter. Larson Financial Group LLC raised its position 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 worth $53,000 after purchasing an additional 1,004 shares during the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in Brookfield Asset Management during the 4th quarter worth $54,000. Institutional investors and hedge funds own 68.41% of the company's stock.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM traded up $1.29 during mid-day trading on Tuesday, reaching $62.67. The company had a trading volume of 925,420 shares, compared to its average volume of 2,100,426. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.07. The firm has a market cap of $102.63 billion, a price-to-earnings ratio of 42.06, a PEG ratio of 2.21 and a beta of 1.44. The company's 50-day moving average price is $57.89 and its 200-day moving average price is $55.04. Brookfield Asset Management Ltd. has a one year low of $39.19 and a one year high of $64.10.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Asset Management's payout ratio is 117.45%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BAM shares. Wall Street Zen raised Brookfield Asset Management from a "sell" rating to a "hold" rating in a research report on Tuesday, April 15th. National Bankshares set a $71.00 target price on Brookfield Asset Management and gave the stock an "outperform" rating in a research report on Tuesday, July 29th. Scotiabank lifted their price objective on Brookfield Asset Management from $66.00 to $67.25 and gave the stock a "sector outperform" rating in a research report on Thursday, August 7th. Morgan Stanley lifted their price objective 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, JPMorgan Chase & Co. lifted their price objective 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. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Brookfield Asset Management presently has an average rating of "Moderate Buy" and an average price target of $62.33.

Brookfield Asset Management Company 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.