Mn Services Vermogensbeheer B.V. Acquires 12,500 Shares of Brookfield Asset Management Ltd. $BAM

Key Points

• Mn Services Vermogensbeheer B.V. increased its holdings in Brookfield Asset Management by 20.2%, owning 74,500 shares valued at $4,115,000 at the end of the second quarter.
• Analysts have raised their price targets for Brookfield Asset Management, with BMO Capital Markets increasing it from $53.00 to $56.00 and Jefferies Financial Group from $55.00 to $62.00, indicating a consensus target price of $63.52.
• Brookfield Asset Management recently announced a quarterly dividend of $0.4375 per share, representing a dividend yield of 2.9% with an annualized payout of $1.75.

Mn Services Vermogensbeheer B.V. increased its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 20.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 74,500 shares of the financial services provider's stock after purchasing an additional 12,500 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Brookfield Asset Management were worth $4,115,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rossby Financial LCC purchased a new position in Brookfield Asset Management during the first quarter worth about $28,000. ST Germain D J Co. Inc. bought a new stake in Brookfield Asset Management in the first quarter worth about $26,000. Truvestments Capital LLC raised its position in Brookfield Asset Management by 85.5% in the first quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider's stock worth $45,000 after acquiring an additional 432 shares during the period. Larson Financial Group LLC raised its position in 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 acquiring an additional 1,004 shares during the period. Finally, eCIO Inc. bought a new stake in Brookfield Asset Management in the first quarter worth about $64,000. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Down 0.5%

BAM stock traded down $0.32 during trading on Tuesday, hitting $61.14. 686,909 shares of the stock traded hands, compared to its average volume of 2,085,599. The firm's 50 day moving average is $60.23 and its two-hundred day moving average is $55.47. 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 stock has a market cap of $100.13 billion, a price-to-earnings ratio of 41.09, a price-to-earnings-growth ratio of 2.19 and a beta of 1.44. 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 quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share (EPS) 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 net margin of 55.92% and a return on equity of 41.12%. On average, sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, August 29th. Brookfield Asset Management's dividend payout ratio is 117.45%.

Analyst Upgrades and Downgrades

Several brokerages have commented on BAM. Wells Fargo & Company lifted their price objective on shares of Brookfield Asset Management from $55.00 to $57.00 and gave the stock an "underweight" rating in a research report on Friday, July 11th. Piper Sandler lowered their price objective on shares of Brookfield Asset Management from $65.00 to $60.00 and set a "neutral" rating on the stock in a research report on Thursday, September 11th. Royal Bank Of Canada began coverage on shares of Brookfield Asset Management in a research report on Wednesday, June 18th. They issued an "outperform" rating and a $72.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $58.00 price objective on shares of Brookfield Asset Management in a research report on Thursday, August 7th. Finally, Jefferies Financial Group boosted their price target on shares of Brookfield Asset Management from $55.00 to $62.00 and gave the company a "hold" rating in a research report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently 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.