Corient IA LLC Purchases New Stake in Brookfield Asset Management Ltd. $BAM

Key Points

• Corient IA LLC has acquired a new position in Brookfield Asset Management Ltd., purchasing 14,525 shares valued at approximately $704,000.
• The company recently reported quarterly earnings of $0.38 EPS, missing estimates and generating revenue of $1.11 billion compared to expectations of $1.29 billion.
• Brookfield Asset Management will pay a quarterly dividend of $0.4375 per share on September 29th, reflecting an annual yield of 2.9%.

Corient IA LLC purchased a new position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 14,525 shares of the financial services provider's stock, valued at approximately $704,000.

Several other large investors have also recently made changes to their positions in BAM. ST Germain D J Co. Inc. bought a new position in shares of Brookfield Asset Management in the 1st quarter worth $26,000. Rossby Financial LCC purchased a new position in Brookfield Asset Management during the 1st quarter worth $28,000. NewEdge Advisors LLC grew its stake 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 buying an additional 325 shares during the last quarter. Larson Financial Group LLC grew its stake 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 valued at $53,000 after purchasing an additional 1,004 shares during the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in Brookfield Asset Management during the 4th quarter valued at about $54,000. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Price Performance

Shares of Brookfield Asset Management stock traded down $0.4120 during mid-day trading on Thursday, reaching $58.9580. 1,079,594 shares of the stock traded hands, compared to its average volume of 2,070,118. The business has a 50-day moving average of $58.60 and a 200 day moving average of $55.15. Brookfield Asset Management Ltd. has a fifty-two week low of $39.19 and a fifty-two week high of $64.10. The stock has a market capitalization of $96.55 billion, a PE ratio of 39.57, a PEG ratio of 2.19 and a beta of 1.44. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.14.

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 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. The firm had revenue of $1,107,960 billion for the quarter, compared to analyst estimates of $1.29 billion. On average, analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

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 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Asset Management's dividend payout ratio (DPR) is currently 117.45%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BAM shares. Royal Bank Of Canada started coverage on Brookfield Asset Management in a research note on Wednesday, June 18th. They set an "outperform" rating and a $72.00 price target on the stock. 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. National Bankshares set a $71.00 target price on Brookfield Asset Management and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $58.00 target price on shares of Brookfield Asset Management in a research note on Thursday, August 7th. Finally, CIBC upped their target price on Brookfield Asset Management from $70.00 to $71.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $63.33.

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.