Jackson Square Capital LLC acquired a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 16,028 shares of the financial services provider's stock, valued at approximately $885,000.
A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Brookfield Asset Management by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider's stock valued at $832,833,000 after acquiring an additional 302,852 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Brookfield Asset Management by 58.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 3,360,125 shares of the financial services provider's stock valued at $163,354,000 after acquiring an additional 1,246,011 shares during the period. Douglass Winthrop Advisors LLC grew its stake in shares of Brookfield Asset Management by 0.5% during the 1st quarter. Douglass Winthrop Advisors LLC now owns 2,672,065 shares of the financial services provider's stock valued at $129,342,000 after acquiring an additional 14,498 shares during the period. Goldman Sachs Group Inc. grew its holdings in Brookfield Asset Management by 107.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,363,192 shares of the financial services provider's stock valued at $114,497,000 after buying an additional 1,224,012 shares in the last quarter. Finally, Bank of Nova Scotia grew its holdings in Brookfield Asset Management by 1.2% during the 1st quarter. Bank of Nova Scotia now owns 2,269,833 shares of the financial services provider's stock valued at $109,913,000 after buying an additional 27,913 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors.
Brookfield Asset Management Stock Performance
Shares of Brookfield Asset Management stock opened at $58.68 on Thursday. The firm has a market cap of $96.10 billion, a P/E ratio of 39.38, a P/E/G ratio of 2.14 and a beta of 1.44. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.14. Brookfield Asset Management Ltd. has a 12 month low of $41.78 and a 12 month high of $64.10. The stock's fifty day moving average price is $60.00 and its 200-day moving average price is $55.25.
Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced 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). The firm had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.29 billion. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. On average, equities research analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal 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 paid a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, August 29th. Brookfield Asset Management's payout ratio is 117.45%.
Wall Street Analyst Weigh In
BAM has been the subject of a number of research analyst reports. Jefferies Financial Group increased their price objective on shares of Brookfield Asset Management from $55.00 to $62.00 and gave the company a "hold" rating in a report on Wednesday, August 13th. National Bankshares set a $71.00 price objective on shares of Brookfield Asset Management and gave the company an "outperform" rating in a report on Tuesday, July 29th. Piper Sandler cut their price objective on shares of Brookfield Asset Management from $65.00 to $60.00 and set a "neutral" rating for the company in a report on Thursday, September 11th. TD Securities increased their price objective on shares of Brookfield Asset Management from $66.00 to $75.00 and gave the company a "buy" rating in a report on Monday, July 28th. Finally, National Bank Financial initiated coverage on shares of Brookfield Asset Management in a report on Tuesday, July 29th. They set an "outperform" rating and a $71.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $63.52.
Check Out Our Latest Stock Report on BAM
About Brookfield Asset Management
(
Free Report)
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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