Natixis Advisors LLC Purchases 42,356 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Key Points

• Natixis Advisors LLC increased its holdings in Brookfield Asset Management Ltd. by 6.5% in the first quarter, bringing its total position to $33.51 million.
• Brookfield Asset Management's stock has recently been rated as a "Moderate Buy", with an average price target of $62.06 from various analysts.
• The company reported a quarterly earnings per share of $0.40, matching analyst expectations, but fell short on revenue, generating $1.04 billion against the expected $1.29 billion.

Natixis Advisors LLC lifted its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 6.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 691,580 shares of the financial services provider's stock after purchasing an additional 42,356 shares during the quarter. Natixis Advisors LLC's holdings in Brookfield Asset Management were worth $33,507,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. ST Germain D J Co. Inc. bought a new position in shares of Brookfield Asset Management during the 1st quarter worth about $26,000. Rossby Financial LCC acquired a new stake in shares of Brookfield Asset Management during the 1st quarter worth approximately $28,000. NewEdge Advisors LLC grew its position in shares of Brookfield Asset Management by 61.0% during the 4th 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 period. Larson Financial Group LLC grew its holdings in Brookfield Asset Management by 1,079.6% during the first 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. Finally, Kapitalo Investimentos Ltda acquired a new position in Brookfield Asset Management during the fourth quarter valued at approximately $54,000. Institutional investors and hedge funds own 68.41% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on BAM shares. Scotiabank restated an "outperform" rating and set a $66.00 price objective (down previously from $69.00) on shares of Brookfield Asset Management in a report on Wednesday, July 30th. Royal Bank Of Canada began coverage on shares of Brookfield Asset Management in a research note on Wednesday, June 18th. They issued an "outperform" rating and a $72.00 price target on the stock. Wall Street Zen raised shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a research note on Tuesday, April 15th. National Bank Financial began coverage on shares of Brookfield Asset Management in a research report on Tuesday, July 29th. They issued an "outperform" rating and a $71.00 price objective on the stock. Finally, Morgan Stanley increased their price objective on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $62.06.

Brookfield Asset Management Price Performance

Shares of BAM traded up $0.26 during midday trading on Tuesday, hitting $61.59. 634,926 shares of the company traded hands, compared to its average volume of 2,095,045. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.31 and a quick ratio of 1.31. The stock has a 50-day moving average of $57.37 and a 200-day moving average of $54.89. The firm has a market cap of $100.87 billion, a P/E ratio of 43.69, a PEG ratio of 2.30 and a beta of 1.44. Brookfield Asset Management Ltd. has a one year low of $38.18 and a one year 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 for the quarter, hitting the consensus estimate of $0.40. The company had revenue of $1.04 billion for 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%. As a group, sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

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.