Fenimore Asset Management Inc Increases Stock Position in Brookfield Asset Management Ltd. $BAM

Key Points

• Fenimore Asset Management Inc increased its stake in Brookfield Asset Management by 1.8% in Q2, owning 930,467 shares valued at approximately $51.4 million.
• A variety of institutional investors, including GAMMA Investing LLC and Parallel Advisors LLC, significantly boosted their positions in Brookfield Asset Management during the first quarter.
• Brookfield Asset Management reported a missed earnings estimate for the last quarter, with earnings per share of $0.38, falling short of the consensus estimate of $0.39.

Fenimore Asset Management Inc raised its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 930,467 shares of the financial services provider's stock after acquiring an additional 16,220 shares during the period. Fenimore Asset Management Inc owned 0.06% of Brookfield Asset Management worth $51,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in BAM. GAMMA Investing LLC boosted its position in shares of Brookfield Asset Management by 4,745.0% in the 1st quarter. GAMMA Investing LLC now owns 18,750 shares of the financial services provider's stock valued at $908,000 after purchasing an additional 18,363 shares during the period. Parallel Advisors LLC lifted its stake in Brookfield Asset Management by 85.7% in the first quarter. Parallel Advisors LLC now owns 1,558 shares of the financial services provider's stock valued at $75,000 after buying an additional 719 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Brookfield Asset Management by 58.7% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,947 shares of the financial services provider's stock valued at $94,000 after buying an additional 720 shares during the last quarter. Procyon Advisors LLC boosted its holdings in shares of Brookfield Asset Management by 6.2% in the first quarter. Procyon Advisors LLC now owns 9,889 shares of the financial services provider's stock valued at $479,000 after acquiring an additional 577 shares during the period. Finally, Avanza Fonder AB grew its position in shares of Brookfield Asset Management by 37.2% during the first quarter. Avanza Fonder AB now owns 25,249 shares of the financial services provider's stock worth $1,223,000 after acquiring an additional 6,849 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company's stock.

Wall Street Analyst Weigh In

BAM has been the topic of a number of recent research reports. Wells Fargo & Company lifted their target price on shares of Brookfield Asset Management from $55.00 to $57.00 and gave the company an "underweight" rating in a report on Friday, July 11th. Scotiabank upped their target price on shares of Brookfield Asset Management from $66.00 to $67.25 and gave the company a "sector outperform" rating in a report on Thursday, August 7th. Royal Bank Of Canada assumed coverage on shares of Brookfield Asset Management in a research note on Wednesday, June 18th. They set an "outperform" rating and a $72.00 target price for the company. BMO Capital Markets boosted their price target on Brookfield Asset Management from $53.00 to $56.00 and gave the company a "market perform" rating in a research report on Thursday, August 7th. Finally, Bank of America downgraded Brookfield Asset Management from a "buy" rating to a "neutral" rating and set a $68.00 price objective for the company. in a research note on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $63.52.

Brookfield Asset Management Trading Up 1.8%

NYSE BAM opened at $57.83 on Monday. Brookfield Asset Management Ltd. has a 52-week low of $41.78 and a 52-week high of $64.10. The firm has a 50-day moving average price of $59.72 and a 200 day moving average price of $56.12. The stock has a market capitalization of $94.70 billion, a P/E ratio of 38.81, a P/E/G ratio of 2.11 and a beta of 1.39. 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 released its earnings results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%. Equities research analysts expect 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 was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were issued a $0.4375 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.75 dividend on an annualized basis and a yield of 3.0%. Brookfield Asset Management's dividend payout ratio (DPR) is 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.

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