Jump Financial LLC Acquires Shares of 12,990 Brookfield Asset Management Ltd. $BAM

Key Points

• Jump Financial LLC acquired 12,990 shares of Brookfield Asset Management Ltd., valued around $629,000, in the first quarter of this year.
• Brookfield Asset Management recently announced a quarterly dividend of $0.4375 per share, representing an annualized dividend of $1.75 and a yield of 2.9%.
• Despite these acquisitions and dividends, Brookfield Asset Management's stock price is down 0.8% and analysts project a mixed outlook with a consensus rating of "Moderate Buy."

Jump Financial LLC acquired a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 12,990 shares of the financial services provider's stock, valued at approximately $629,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Barclays PLC grew its holdings in shares of Brookfield Asset Management by 274.0% in the fourth quarter. Barclays PLC now owns 7,492 shares of the financial services provider's stock worth $406,000 after acquiring an additional 5,489 shares during the period. NewEdge Advisors LLC lifted its position in shares of Brookfield Asset Management by 61.0% in the fourth quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock worth $47,000 after buying an additional 325 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Brookfield Asset Management by 6.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,910 shares of the financial services provider's stock worth $754,000 after buying an additional 882 shares in the last quarter. Northern Trust Corp lifted its position in shares of Brookfield Asset Management by 63.0% in the fourth quarter. Northern Trust Corp now owns 426,594 shares of the financial services provider's stock worth $23,117,000 after buying an additional 164,809 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Brookfield Asset Management by 139.2% in the fourth quarter. Ameriprise Financial Inc. now owns 406,376 shares of the financial services provider's stock worth $22,237,000 after buying an additional 236,495 shares in the last quarter. Institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Stock Down 0.8%

Brookfield Asset Management stock opened at $60.25 on Monday. The business has a fifty day moving average of $59.37 and a two-hundred day moving average of $55.27. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. The firm has a market cap of $98.67 billion, a P/E ratio of 40.43, a P/E/G ratio of 2.20 and a beta of 1.44. Brookfield Asset Management Ltd. has a twelve month low of $39.19 and a twelve month high of $64.10.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its earnings results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). The company had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.29 billion. Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%. On average, analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share 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 dividend of $0.4375 per share. The ex-dividend date is Friday, August 29th. This represents a $1.75 dividend on an annualized basis and a yield of 2.9%. Brookfield Asset Management's dividend payout ratio is currently 117.45%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Jefferies Financial Group boosted their target price on Brookfield Asset Management from $55.00 to $62.00 and gave the stock a "hold" rating in a research report on Wednesday, August 13th. Wells Fargo & Company boosted their price objective on Brookfield Asset Management from $55.00 to $57.00 and gave the stock an "underweight" rating in a research note on Friday, July 11th. BMO Capital Markets boosted their price objective on Brookfield Asset Management from $53.00 to $56.00 and gave the stock a "market perform" rating in a research note on Thursday, August 7th. National Bankshares set a $71.00 price objective on Brookfield Asset Management and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. Finally, Morgan Stanley upped their target price on 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. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Brookfield Asset Management has a consensus rating of "Moderate Buy" and an average price target of $63.33.

Brookfield Asset Management Company 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.

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