Integrity Alliance LLC. Makes New $281,000 Investment in Brookfield Asset Management Ltd. $BAM

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. purchased a new position 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 & Exchange Commission. The fund purchased 5,797 shares of the financial services provider's stock, valued at approximately $281,000.

Other large investors have also modified their holdings of the company. Rossby Financial LCC purchased a new stake in shares of Brookfield Asset Management during the first quarter worth about $28,000. ST Germain D J Co. Inc. purchased a new stake in shares of Brookfield Asset Management during the first quarter worth about $26,000. Truvestments Capital LLC grew its stake in shares of Brookfield Asset Management by 85.5% during the first quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider's stock worth $45,000 after acquiring an additional 432 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Brookfield Asset Management by 1,079.6% during the first quarter. Larson Financial Group LLC now owns 1,097 shares of the financial services provider's stock worth $53,000 after acquiring an additional 1,004 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Brookfield Asset Management by 85.7% during the first quarter. Parallel Advisors LLC now owns 1,558 shares of the financial services provider's stock worth $75,000 after acquiring an additional 719 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $58.00 price target on shares of Brookfield Asset Management in a research note on Thursday, August 7th. Royal Bank Of Canada initiated coverage on Brookfield Asset Management in a research report on Wednesday, June 18th. They issued an "outperform" rating and a $72.00 target price on the stock. BMO Capital Markets upped their target price 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. 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. Finally, National Bank Financial initiated coverage on Brookfield Asset Management in a research report on Tuesday, July 29th. They issued an "outperform" rating and a $71.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Brookfield Asset Management currently has an average rating of "Moderate Buy" and an average price target of $63.52.

Brookfield Asset Management Trading Down 0.1%

Shares of BAM stock opened at $56.68 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market cap of $92.83 billion, a price-to-earnings ratio of 38.04, a PEG ratio of 2.07 and a beta of 1.44. The stock has a 50 day simple moving average of $59.83 and a 200-day simple moving average of $55.20. Brookfield Asset Management Ltd. has a 1-year low of $41.78 and a 1-year high of $64.10.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its earnings results 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 return on equity of 41.12% and a net margin of 55.92%.The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.29 billion. On average, equities research analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

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 $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, August 29th. Brookfield Asset Management's dividend payout ratio is presently 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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