Douglass Winthrop Advisors LLC Acquires 14,498 Shares of Brookfield Asset Management Ltd. $BAM

Key Points

• Douglass Winthrop Advisors LLC increased its holdings in Brookfield Asset Management by 0.5%, totaling 2,672,065 shares, which represents about 2.5% of its investment portfolio.
• Brookfield Asset Management recently reported earnings of $0.38 EPS, slightly missing analyst expectations of $0.39, with revenues of approximately $1.11 billion.
• The firm announced a quarterly dividend of $0.4375 per share, yielding 2.9%, with a dividend payout ratio of 117.45%.

Douglass Winthrop Advisors LLC increased its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 0.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,672,065 shares of the financial services provider's stock after purchasing an additional 14,498 shares during the quarter. Brookfield Asset Management accounts for approximately 2.5% of Douglass Winthrop Advisors LLC's investment portfolio, making the stock its 16th largest position. Douglass Winthrop Advisors LLC owned 0.16% of Brookfield Asset Management worth $129,342,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BAM. AGF Management Ltd. lifted its holdings in shares of Brookfield Asset Management by 60.5% in the first quarter. AGF Management Ltd. now owns 1,603,608 shares of the financial services provider's stock worth $77,742,000 after acquiring an additional 604,395 shares during the last quarter. MUFG Securities EMEA plc bought a new position in shares of Brookfield Asset Management in the first quarter worth about $27,859,000. 1832 Asset Management L.P. lifted its holdings in shares of Brookfield Asset Management by 96.6% in the first quarter. 1832 Asset Management L.P. now owns 981,961 shares of the financial services provider's stock worth $47,576,000 after acquiring an additional 482,509 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Brookfield Asset Management by 1.8% in the first quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider's stock worth $832,833,000 after acquiring an additional 302,852 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of Brookfield Asset Management in the first quarter worth about $13,438,000. Institutional investors own 68.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BAM. BMO Capital Markets increased their target price on shares of Brookfield Asset Management from $53.00 to $56.00 and gave the stock a "market perform" rating in a report on Thursday, August 7th. National Bank Financial initiated coverage on shares of Brookfield Asset Management in a report on Tuesday, July 29th. They issued an "outperform" rating and a $71.00 price objective for the company. Piper Sandler initiated coverage on shares of Brookfield Asset Management in a report on Monday, June 30th. They issued a "neutral" rating and a $60.00 price objective for the company. CIBC raised their price objective on shares of Brookfield Asset Management from $70.00 to $71.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Finally, TD Securities raised their price objective on shares of Brookfield Asset Management from $66.00 to $75.00 and gave the company a "buy" rating in a report on Monday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $63.33.

Brookfield Asset Management Stock Up 0.6%

NYSE:BAM traded up $0.34 during trading hours on Thursday, hitting $60.73. 425,266 shares of the company traded hands, compared to its average volume of 2,058,306. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. The firm's 50-day simple moving average is $59.13 and its 200-day simple moving average is $55.23. Brookfield Asset Management Ltd. has a one year low of $39.19 and a one year high of $64.10. The company has a market cap of $99.46 billion, a PE ratio of 40.72, a PEG ratio of 2.20 and a beta of 1.44.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings data 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 net margin of 55.92% and a return on equity of 41.12%. The company had revenue of $1,107,960 billion for the quarter, compared to the consensus estimate of $1.29 billion. Equities analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share 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. Stockholders of record on Friday, August 29th will be paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, August 29th. Brookfield Asset Management's 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.