Maryland State Retirement & Pension System Invests $1.03 Million in Brookfield Asset Management Ltd. $BAM

Key Points

• The Maryland State Retirement & Pension System has invested approximately $1.03 million in Brookfield Asset Management, acquiring 18,585 shares during the second quarter.
• Brookfield Asset Management's stock has recently seen a decline of 6.3%, opening at $55.06 on Monday, despite a strong dividend yield of 3.2%.
• The company's recent earnings report indicated a miss on expectations, with earnings per share of $0.38 against a consensus estimate of $0.39.

Maryland State Retirement & Pension System bought a new position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 18,585 shares of the financial services provider's stock, valued at approximately $1,027,000.

Other hedge funds also recently made changes to their positions in the company. Rossby Financial LCC acquired a new position in shares of Brookfield Asset Management in the 1st quarter worth approximately $28,000. Truvestments Capital LLC boosted its position in Brookfield Asset Management by 85.5% during the 1st quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 432 shares during the period. Larson Financial Group LLC boosted its position in Brookfield Asset Management by 1,079.6% during the 1st quarter. Larson Financial Group LLC now owns 1,097 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 1,004 shares during the period. DHJJ Financial Advisors Ltd. boosted its position in Brookfield Asset Management by 100,000.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 1,001 shares of the financial services provider's stock valued at $55,000 after purchasing an additional 1,000 shares during the period. Finally, Trust Co. of Vermont boosted its position in Brookfield Asset Management by 90.4% during the 2nd quarter. Trust Co. of Vermont now owns 1,070 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 508 shares during the period. Institutional investors and hedge funds own 68.41% of the company's stock.

Brookfield Asset Management Stock Down 6.3%

Shares of Brookfield Asset Management stock opened at $55.06 on Monday. The business's fifty day moving average price is $59.29 and its two-hundred day moving average price is $56.36. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market capitalization of $90.18 billion, a P/E ratio of 36.95, a PEG ratio of 2.03 and a beta of 1.39. Brookfield Asset Management Ltd. has a 1-year low of $41.78 and a 1-year high of $64.10.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its earnings results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.29 billion. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. As a group, research analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were issued a $0.4375 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.75 annualized dividend and a dividend yield of 3.2%. Brookfield Asset Management's dividend payout ratio is 117.45%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Royal Bank Of Canada assumed coverage on Brookfield Asset Management in a research report on Wednesday, June 18th. They set an "outperform" rating and a $72.00 price objective for the company. Weiss Ratings restated a "buy (b)" rating on shares of Brookfield Asset Management in a research report on Wednesday, October 8th. National Bank Financial assumed coverage on Brookfield Asset Management in a research report on Tuesday, July 29th. They set an "outperform" rating and a $71.00 price objective for the company. CIBC boosted their price objective on Brookfield Asset Management from $70.00 to $71.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, TD Securities lifted their target price on Brookfield Asset Management from $66.00 to $75.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Brookfield Asset Management presently has an average rating of "Moderate Buy" and an average price target of $63.52.

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.

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