Magnetar Financial LLC Purchases New Position in Brookfield Asset Management Ltd. $BAM

Key Points

• Magnetar Financial LLC has invested approximately $539,000 in a new stake of 11,124 shares in Brookfield Asset Management Ltd. during the first quarter.
• Several institutional investors, including Cerity Partners LLC and the Teacher Retirement System of Texas, have also increased their holdings in Brookfield, indicating strong interest among major investors.
• Brookfield Asset Management recently reported $0.38 EPS for the quarter, missing expectations, and has declared a quarterly dividend of $0.4375 with a yield of 2.9%.

Magnetar Financial LLC bought a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 11,124 shares of the financial services provider's stock, valued at approximately $539,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kirr Marbach & Co. LLC IN boosted its holdings in Brookfield Asset Management by 0.6% in the first quarter. Kirr Marbach & Co. LLC IN now owns 35,400 shares of the financial services provider's stock worth $1,715,000 after acquiring an additional 203 shares in the last quarter. Lincoln Capital LLC boosted its holdings in Brookfield Asset Management by 0.9% in the first quarter. Lincoln Capital LLC now owns 23,151 shares of the financial services provider's stock worth $1,145,000 after acquiring an additional 210 shares in the last quarter. Focus Financial Network Inc. boosted its holdings in Brookfield Asset Management by 5.2% in the first quarter. Focus Financial Network Inc. now owns 4,442 shares of the financial services provider's stock worth $215,000 after acquiring an additional 218 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Brookfield Asset Management by 17.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,015 shares of the financial services provider's stock worth $98,000 after acquiring an additional 299 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in 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 acquiring an additional 325 shares in the last quarter. Institutional investors own 68.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BAM shares. National Bankshares set a $71.00 target price on Brookfield Asset Management and gave the company an "outperform" rating in a report on Tuesday, July 29th. Morgan Stanley lifted their price target on Brookfield Asset Management from $50.00 to $54.00 and gave the stock an "equal weight" rating in a report on Friday, May 16th. Piper Sandler started coverage on Brookfield Asset Management in a research report on Monday, June 30th. They issued a "neutral" rating and a $60.00 target price for the company. TD Securities raised their target price on Brookfield Asset Management from $66.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $58.00 price target on shares of Brookfield Asset Management in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $63.33.

Brookfield Asset Management Trading Down 1.1%

Shares of NYSE BAM traded down $0.66 during midday trading on Wednesday, reaching $58.47. The company had a trading volume of 1,296,764 shares, compared to its average volume of 1,646,100. Brookfield Asset Management Ltd. has a one year low of $39.19 and a one year high of $64.10. 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's fifty day moving average price is $59.65 and its 200-day moving average price is $55.32. The stock has a market cap of $95.76 billion, a PE ratio of 39.24, a price-to-earnings-growth ratio of 2.20 and a beta of 1.44.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released 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). Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.29 billion. On average, equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Asset Management's payout ratio is 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.