HighTower Advisors LLC Purchases 6,735 Shares of Brookfield Asset Management Ltd. $BAM

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HighTower Advisors LLC lifted its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 4.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 144,680 shares of the financial services provider's stock after purchasing an additional 6,735 shares during the quarter. HighTower Advisors LLC's holdings in Brookfield Asset Management were worth $7,010,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Brookfield Asset Management by 1.8% during 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. Bank of Nova Scotia increased its stake in Brookfield Asset Management by 1.2% during the first quarter. Bank of Nova Scotia now owns 2,269,833 shares of the financial services provider's stock worth $109,913,000 after acquiring an additional 27,913 shares during the last quarter. Bank of America Corp DE increased its stake in Brookfield Asset Management by 12.5% during the fourth quarter. Bank of America Corp DE now owns 1,939,109 shares of the financial services provider's stock worth $105,080,000 after acquiring an additional 215,670 shares during the last quarter. Madison Asset Management LLC increased its stake in Brookfield Asset Management by 9.5% during the first quarter. Madison Asset Management LLC now owns 1,901,985 shares of the financial services provider's stock worth $92,151,000 after acquiring an additional 165,098 shares during the last quarter. Finally, AGF Management Ltd. increased its stake in Brookfield Asset Management by 60.5% during 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. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Stock Down 0.3%

Shares of NYSE:BAM opened at $61.23 on Tuesday. Brookfield Asset Management Ltd. has a 52-week low of $39.19 and a 52-week high of $64.10. The stock has a market cap of $100.28 billion, a P/E ratio of 41.09, a price-to-earnings-growth ratio of 2.24 and a beta of 1.44. The business's 50 day moving average is $58.45 and its 200 day moving average is $55.09. 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 quarterly earnings data 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). Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%. The firm had revenue of $1,107,960 billion during the quarter, compared to the consensus estimate of $1.29 billion. Sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.4375 per share. The ex-dividend date is Friday, August 29th. This represents a $1.75 dividend on an annualized basis and a yield of 2.9%. Brookfield Asset Management's dividend payout ratio is currently 117.45%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BAM. JPMorgan Chase & Co. boosted their price objective on Brookfield Asset Management from $51.00 to $55.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Wells Fargo & Company boosted their target price on Brookfield Asset Management from $55.00 to $57.00 and gave the company an "underweight" rating in a research report on Friday, July 11th. National Bank Financial assumed coverage on Brookfield Asset Management in a research report on Tuesday, July 29th. They set an "outperform" rating and a $71.00 target price for the company. CIBC boosted their target price on Brookfield Asset Management from $70.00 to $71.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, National Bankshares set a $71.00 target price on Brookfield Asset Management and gave the company an "outperform" rating in a research report on Tuesday, July 29th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price 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.

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