Inspire Investing LLC Takes $2.59 Million Position in Brookfield Asset Management Ltd. $BAM

Key Points

• Inspire Investing LLC has acquired a new stake in Brookfield Asset Management valued at approximately $2.59 million, purchasing 46,863 shares in the 2nd quarter.
• Analysts have mixed opinions on BAM shares, with TD Securities raising their target price to $75.00 while Bank of America downgraded their rating to "neutral" with a target of $68.00.
• Brookfield Asset Management recently announced a quarterly dividend of $0.4375 per share, indicating a 3.2% dividend yield, although its payout ratio stands at 117.45%.

Inspire Investing LLC acquired a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 46,863 shares of the financial services provider's stock, valued at approximately $2,591,000.

Several other large investors also recently made changes to their positions in the business. Blue Zone Wealth Advisors LLC boosted its position in shares of Brookfield Asset Management by 1.7% during the 2nd quarter. Blue Zone Wealth Advisors LLC now owns 174,916 shares of the financial services provider's stock valued at $9,669,000 after purchasing an additional 2,977 shares in the last quarter. PDS Planning Inc acquired a new position in shares of Brookfield Asset Management in the second quarter worth about $214,000. Blair William & Co. IL boosted its holdings in shares of Brookfield Asset Management by 26.7% in the second quarter. Blair William & Co. IL now owns 29,095 shares of the financial services provider's stock worth $1,608,000 after buying an additional 6,140 shares during the period. US Bancorp DE boosted its holdings in shares of Brookfield Asset Management by 6.3% in the second quarter. US Bancorp DE now owns 18,493 shares of the financial services provider's stock worth $1,022,000 after buying an additional 1,091 shares during the period. Finally, Maryland State Retirement & Pension System acquired a new position in shares of Brookfield Asset Management in the second quarter worth about $1,027,000. Institutional investors own 68.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BAM shares. TD Securities raised their target price on shares of Brookfield Asset Management from $66.00 to $75.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $58.00 target price on shares of Brookfield Asset Management in a report on Thursday, August 7th. Weiss Ratings reiterated a "buy (b)" rating on shares of Brookfield Asset Management in a report on Wednesday. Bank of America lowered shares of Brookfield Asset Management from a "buy" rating to a "neutral" rating and set a $68.00 price target for the company. in a research report on Thursday, September 4th. Finally, Royal Bank Of Canada initiated coverage on shares of 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. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $63.52.

Brookfield Asset Management Trading Down 6.3%

Shares of Brookfield Asset Management stock opened at $55.06 on Friday. Brookfield Asset Management Ltd. has a 12-month low of $41.78 and a 12-month high of $64.10. The stock has a market cap of $90.18 billion, a P/E ratio of 36.95, a P/E/G ratio of 2.17 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. The business's 50 day moving average is $59.29 and its 200-day moving average is $56.28.

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 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 company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.29 billion. Equities research analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were paid a dividend of $0.4375 per share. The ex-dividend date was Friday, August 29th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.2%. Brookfield Asset Management's dividend payout ratio is currently 117.45%.

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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