Jackson Square Capital LLC Takes Position in Brookfield Asset Management Ltd. $BAM

Key Points

• Jackson Square Capital LLC has acquired a new stake in Brookfield Asset Management Ltd., purchasing 16,028 shares valued at approximately $885,000 in the second quarter.
• Brookfield's recent quarterly earnings report revealed an EPS of $0.38, slightly missing the consensus estimate of $0.39, with revenues totaling $1.11 billion against expectations of $1.29 billion.
• The firm announced a quarterly dividend of $0.4375 per share, resulting in an annualized dividend yield of 3.0%, with the payout ratio standing at 117.45%.

Jackson Square Capital LLC purchased a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 16,028 shares of the financial services provider's stock, valued at approximately $885,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kirr Marbach & Co. LLC IN raised its holdings in Brookfield Asset Management by 0.6% in the 1st quarter. Kirr Marbach & Co. LLC IN now owns 35,400 shares of the financial services provider's stock valued at $1,715,000 after buying an additional 203 shares during the period. Lincoln Capital LLC raised its holdings in Brookfield Asset Management by 0.9% in the 1st quarter. Lincoln Capital LLC now owns 23,151 shares of the financial services provider's stock valued at $1,145,000 after buying an additional 210 shares during the period. Focus Financial Network Inc. raised its holdings in Brookfield Asset Management by 5.2% in the 1st quarter. Focus Financial Network Inc. now owns 4,442 shares of the financial services provider's stock valued at $215,000 after buying an additional 218 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Brookfield Asset Management by 17.4% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,015 shares of the financial services provider's stock worth $98,000 after purchasing an additional 299 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in Brookfield Asset Management by 3.2% during the first quarter. Advisors Asset Management Inc. now owns 10,171 shares of the financial services provider's stock worth $493,000 after purchasing an additional 314 shares during the period. Institutional investors and hedge funds own 68.41% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on BAM shares. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $58.00 price target on shares of Brookfield Asset Management in a research note on Thursday, August 7th. Jefferies Financial Group boosted their price target on shares of Brookfield Asset Management from $55.00 to $62.00 and gave the stock a "hold" rating in a research note on Wednesday, August 13th. Wells Fargo & Company boosted their price target on shares of Brookfield Asset Management from $55.00 to $57.00 and gave the stock an "underweight" rating in a research note on Friday, July 11th. TD Securities boosted their price target on shares of Brookfield Asset Management from $66.00 to $75.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Finally, CIBC boosted their price target on shares of Brookfield Asset Management from $70.00 to $71.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $63.52.

Brookfield Asset Management Stock Performance

Shares of BAM stock traded up $0.21 during trading hours on Friday, hitting $60.08. The stock had a trading volume of 2,086,213 shares, compared to its average volume of 2,185,740. The firm has a market capitalization of $98.40 billion, a PE ratio of 40.32, a PEG ratio of 2.19 and a beta of 1.44. Brookfield Asset Management Ltd. has a twelve month low of $41.78 and a twelve month high of $64.10. The stock's 50 day moving average is $60.14 and its 200 day moving average is $55.34. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.25.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.38 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 company had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.29 billion. As a group, research analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a $0.4375 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.75 annualized dividend and a yield of 2.9%. 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.