Janney Montgomery Scott LLC boosted its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 4.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 221,222 shares of the financial services provider's stock after buying an additional 8,415 shares during the period. Janney Montgomery Scott LLC's holdings in Brookfield Asset Management were worth $10,718,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of BAM. Norges Bank bought a new position in Brookfield Asset Management during the fourth quarter valued at $287,361,000. William Blair Investment Management LLC purchased a new position in shares of Brookfield Asset Management during the 4th quarter worth about $204,169,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Brookfield Asset Management by 103.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider's stock valued at $216,507,000 after purchasing an additional 2,031,995 shares during the last quarter. Madison Investment Advisors LLC purchased a new stake in Brookfield Asset Management in the 4th quarter worth about $94,122,000. Finally, TD Asset Management Inc. lifted its stake in Brookfield Asset Management by 8.9% in the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider's stock worth $903,323,000 after purchasing an additional 1,359,126 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.
Brookfield Asset Management Stock Down 0.6%
Shares of NYSE BAM traded down $0.30 during mid-day trading on Monday, reaching $54.05. 1,792,369 shares of the company were exchanged, compared to its average volume of 1,461,767. The stock has a market cap of $87.16 billion, a price-to-earnings ratio of 38.33, a P/E/G ratio of 1.97 and a beta of 1.51. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average of $54.81 and a 200 day moving average of $54.23. Brookfield Asset Management Ltd. has a 1 year low of $37.40 and a 1 year high of $62.61.
Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share for the quarter, meeting the consensus estimate of $0.40. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.29 billion. On average, research analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.
Brookfield Asset Management Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.4375 per share. The ex-dividend date is Friday, May 30th. This represents a $1.75 dividend on an annualized basis and a yield of 3.24%. Brookfield Asset Management's payout ratio is 124.11%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on BAM shares. Wells Fargo & Company raised their price target on Brookfield Asset Management from $54.00 to $55.00 and gave the stock an "underweight" rating in a research note on Friday, May 23rd. Morgan Stanley boosted their target price on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the company an "equal weight" rating in a research note on Friday, May 16th. Royal Bank Of Canada started coverage on shares of Brookfield Asset Management in a research note on Wednesday, June 18th. They issued an "outperform" rating and a $72.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Brookfield Asset Management from $51.00 to $55.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Finally, Jefferies Financial Group dropped their target price on shares of Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating on the stock in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $59.46.
View Our Latest Stock Analysis 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.
Featured Stories
Before you consider Brookfield Asset Management, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Brookfield Asset Management wasn't on the list.
While Brookfield Asset Management currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
