Brookfield Asset Management Ltd. (NYSE:BAM) Position Boosted by LGT Capital Partners LTD.

Key Points

• LGT Capital Partners LTD. increased its ownership in Brookfield Asset Management Ltd. by 7.6% during the first quarter, now holding 497,000 shares valued at approximately $24.06 million.
• Brookfield Asset Management reported earnings of $0.40 per share for the last quarter, matching analyst expectations, but its revenue of $1.04 billion fell short of the estimated $1.29 billion.
• The company recently declared a quarterly dividend of $0.4375 per share, which reflects a 2.9% yield, despite a high payout ratio of 124.11%.

LGT Capital Partners LTD. increased its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 7.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 497,000 shares of the financial services provider's stock after buying an additional 35,000 shares during the period. LGT Capital Partners LTD.'s holdings in Brookfield Asset Management were worth $24,057,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ST Germain D J Co. Inc. purchased a new stake in shares of Brookfield Asset Management during the first quarter worth about $26,000. Rossby Financial LCC purchased a new stake in Brookfield Asset Management during the 1st quarter worth approximately $28,000. NewEdge Advisors LLC increased its stake 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 during the last quarter. Larson Financial Group LLC increased its stake in shares of Brookfield Asset Management by 1,079.6% in the first quarter. Larson Financial Group LLC now owns 1,097 shares of the financial services provider's stock worth $53,000 after buying an additional 1,004 shares during the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Brookfield Asset Management in the fourth quarter worth $54,000. Hedge funds and other institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM traded down $0.38 on Tuesday, hitting $60.95. The company's stock had a trading volume of 346,540 shares, compared to its average volume of 2,092,774. The stock's 50-day moving average is $57.37 and its two-hundred day moving average is $54.89. The company has a market capitalization of $99.82 billion, a price-to-earnings ratio of 43.25, a price-to-earnings-growth ratio of 2.30 and a beta of 1.44. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.31 and a current ratio of 1.31. Brookfield Asset Management Ltd. has a 12 month low of $38.18 and a 12 month high of $63.53.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.40. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.29 billion. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. On average, equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Morgan Stanley boosted their target price on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the stock an "equal weight" rating in a research report on Friday, May 16th. Scotiabank reissued an "outperform" rating and issued a $66.00 price objective (down from $69.00) on shares of Brookfield Asset Management in a report on Wednesday, July 30th. TD Securities boosted their price target on Brookfield Asset Management from $66.00 to $75.00 and gave the company a "buy" rating in a report on Monday, July 28th. Wells Fargo & Company boosted their price target on Brookfield Asset Management from $55.00 to $57.00 and gave the company an "underweight" rating in a report on Friday, July 11th. Finally, National Bank Financial began coverage on shares of Brookfield Asset Management in a research note on Tuesday, July 29th. They set an "outperform" rating and a $71.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $62.06.

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.