Compagnie Lombard Odier SCmA Acquires 4,240 Shares of Brookfield Asset Management Ltd. $BAM

Key Points

• Compagnie Lombard Odier SCmA increased its stake in Brookfield Asset Management by 0.9% in the second quarter, acquiring an additional 4,240 shares, bringing their total holdings to 484,090 shares valued at $26.76 million.
• Recent analysts' ratings for Brookfield Asset Management show a consensus rating of "Moderate Buy" with an average price target of $63.52, amidst various adjustments from firms like Scotiabank and Bank of America.
• Brookfield Asset Management recently announced a quarterly dividend of $0.4375 per share, equating to an annualized dividend yield of 2.8%, although the company has a relatively high dividend payout ratio of 117.45%.

Compagnie Lombard Odier SCmA lifted its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 0.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 484,090 shares of the financial services provider's stock after acquiring an additional 4,240 shares during the period. Compagnie Lombard Odier SCmA's holdings in Brookfield Asset Management were worth $26,760,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rossby Financial LCC purchased a new stake in Brookfield Asset Management in the 1st quarter worth about $28,000. ST Germain D J Co. Inc. purchased a new position in shares of Brookfield Asset Management during the first quarter worth approximately $26,000. Truvestments Capital LLC increased its position in shares of Brookfield Asset Management by 85.5% during the first quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider's stock worth $45,000 after acquiring an additional 432 shares during the period. Larson Financial Group LLC increased its position in shares of Brookfield Asset Management by 1,079.6% during the first quarter. Larson Financial Group LLC now owns 1,097 shares of the financial services provider's stock worth $53,000 after acquiring an additional 1,004 shares during the period. Finally, eCIO Inc. purchased a new position in shares of Brookfield Asset Management during the first quarter worth approximately $64,000. 68.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BAM shares. Scotiabank raised their target price on shares of 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. Bank of America lowered shares of Brookfield Asset Management from a "buy" rating to a "neutral" rating and set a $68.00 target price on the stock. in a research report on Thursday, September 4th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $58.00 target price on shares of Brookfield Asset Management in a research report on Thursday, August 7th. National Bankshares set a $71.00 target price on Brookfield Asset Management and gave the stock an "outperform" rating in a report on Tuesday, July 29th. Finally, BMO Capital Markets upped their target price on Brookfield Asset Management from $53.00 to $56.00 and gave the stock a "market perform" rating in a report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $63.52.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $61.48 on Tuesday. The firm's 50 day moving average price is $60.23 and its 200-day moving average price is $55.47. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.25 and a current ratio of 1.25. Brookfield Asset Management Ltd. has a one year low of $41.78 and a one year high of $64.10. The firm has a market cap of $100.69 billion, a P/E ratio of 41.26, a P/E/G ratio of 2.19 and a beta of 1.44.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its earnings results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%.The business had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.29 billion. As a group, equities research analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Dividend Announcement

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

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.

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.