5,797 Shares in Brookfield Asset Management Ltd. $BAM Bought by Integrity Alliance LLC.

Key Points

• Integrity Alliance LLC has made a new investment in Brookfield Asset Management Ltd., purchasing 5,797 shares valued at approximately $281,000.
• Brookfield Asset Management has a current market cap of $92.83 billion and recent earnings fell short of estimates, reporting $1.11 billion in revenue against an expected $1.29 billion.
• The company will pay a quarterly dividend of $0.4375 per share on September 29, which translates into an annualized yield of 3.1%.

Integrity Alliance LLC. acquired a new position in 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 (SEC). The institutional investor acquired 5,797 shares of the financial services provider's stock, valued at approximately $281,000.

A number of other hedge funds have also recently added to or reduced their stakes in BAM. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Brookfield Asset Management by 975.9% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,765,220 shares of the financial services provider's stock worth $85,463,000 after buying an additional 1,601,155 shares during the last quarter. Millennium Management LLC increased its holdings in Brookfield Asset Management by 461.5% in the first quarter. Millennium Management LLC now owns 1,722,683 shares of the financial services provider's stock worth $83,464,000 after buying an additional 1,415,866 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Brookfield Asset Management by 58.9% in the first quarter. The Manufacturers Life Insurance Company now owns 3,360,125 shares of the financial services provider's stock worth $163,354,000 after buying an additional 1,246,011 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Brookfield Asset Management by 107.4% in the first quarter. Goldman Sachs Group Inc. now owns 2,363,192 shares of the financial services provider's stock worth $114,497,000 after buying an additional 1,224,012 shares during the last quarter. Finally, AGF Management Ltd. increased its holdings in 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 buying an additional 604,395 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on BAM. CIBC increased their price target on Brookfield Asset Management from $70.00 to $71.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Bank of America downgraded Brookfield Asset Management from a "buy" rating to a "neutral" rating and set a $68.00 price target on the stock. in a report on Thursday, September 4th. National Bankshares set a $71.00 price target on Brookfield Asset Management and gave the company an "outperform" rating in a report on Tuesday, July 29th. National Bank Financial began coverage on Brookfield Asset Management in a report on Tuesday, July 29th. They set an "outperform" rating and a $71.00 price target on the stock. Finally, TD Securities increased their price target on 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, eight have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Brookfield Asset Management has an average rating of "Moderate Buy" and a consensus target price of $63.52.

Brookfield Asset Management Stock Performance

Shares of BAM traded up $1.16 during mid-day trading on Thursday, hitting $59.84. The company's stock had a trading volume of 1,724,017 shares, compared to its average volume of 2,153,519. Brookfield Asset Management Ltd. has a one year low of $41.78 and a one year high of $64.10. 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 capitalization of $98.01 billion, a PE ratio of 40.16, a price-to-earnings-growth ratio of 2.14 and a beta of 1.44. The stock's 50-day moving average is $60.07 and its two-hundred day moving average is $55.28.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted 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 business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.29 billion. As a group, sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be given a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Asset Management's dividend payout ratio (DPR) is 117.45%.

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.