DRW Securities LLC Takes Position in Brookfield Asset Management Ltd. $BAM

Key Points

• DRW Securities LLC has acquired a new stake in Brookfield Asset Management Ltd., purchasing 8,900 shares valued at approximately $431,000.
• Brookfield recently declared a quarterly dividend of $0.4375, with a yield of 2.9%, while the payout ratio stands at 117.45%.
• The company's shares opened at $60.25 and have a 52-week price range of $39.19 to $64.10, with analysts predicting a Moderate Buy consensus rating and a target price of $63.33.

DRW Securities LLC bought a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 8,900 shares of the financial services provider's stock, valued at approximately $431,000.

A number of other hedge funds have also recently modified their holdings of BAM. ST Germain D J Co. Inc. bought a new stake in shares of Brookfield Asset Management during the 1st quarter valued at $26,000. Rossby Financial LCC bought a new stake in shares of Brookfield Asset Management during the 1st quarter valued at $28,000. Truvestments Capital LLC boosted its holdings in shares of Brookfield Asset Management by 85.5% during the 1st quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider's stock valued at $45,000 after buying an additional 432 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Brookfield Asset Management by 61.0% during the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock valued at $47,000 after buying an additional 325 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in shares of Brookfield Asset Management by 1,079.6% in 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. Institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM opened at $60.25 on Monday. Brookfield Asset Management Ltd. has a fifty-two week low of $39.19 and a fifty-two week high of $64.10. The business has a 50-day simple moving average of $59.37 and a two-hundred day simple moving average of $55.27. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market cap of $98.67 billion, a price-to-earnings ratio of 40.43, a price-to-earnings-growth ratio of 2.20 and a beta of 1.44.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its earnings results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.29 billion. On average, analysts expect 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. Shareholders of record on Friday, August 29th will be given a $0.4375 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.75 dividend on an annualized basis and a yield of 2.9%. Brookfield Asset Management's payout ratio is 117.45%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BAM shares. CIBC lifted their price target on Brookfield Asset Management from $70.00 to $71.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Royal Bank Of Canada started coverage on Brookfield Asset Management in a research report on Wednesday, June 18th. They issued an "outperform" rating and a $72.00 price target for the company. Piper Sandler started coverage on Brookfield Asset Management in a research report on Monday, June 30th. They issued a "neutral" rating and a $60.00 price target for the company. JPMorgan Chase & Co. lifted their price target 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. Finally, Wells Fargo & Company lifted their price target 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. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Brookfield Asset Management currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.33.

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.

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