Nuveen LLC Acquires New Position in Brookfield Asset Management Ltd. $BAM

Key Points

• Nuveen LLC has taken a new position in Brookfield Asset Management by acquiring approximately $13.44 million worth of shares during the first quarter, purchasing 277,635 shares.
• Brookfield Asset Management will pay a quarterly dividend of $0.4375 per share, with a dividend yield of 3.0%, set to be issued on September 29th.
• Analysts have provided a predominantly positive outlook on the stock, with a consensus rating of "Moderate Buy" and a target price averaging around $63.33.

Nuveen LLC acquired a new stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 277,635 shares of the financial services provider's stock, valued at approximately $13,438,000.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Brookfield Asset Management by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider's stock worth $832,833,000 after acquiring an additional 302,852 shares during the period. Bank of Nova Scotia grew its stake in shares of Brookfield Asset Management by 1.2% during the 1st quarter. Bank of Nova Scotia now owns 2,269,833 shares of the financial services provider's stock worth $109,913,000 after acquiring an additional 27,913 shares during the period. Bank of America Corp DE grew its stake in shares of Brookfield Asset Management by 12.5% during the 4th quarter. Bank of America Corp DE now owns 1,939,109 shares of the financial services provider's stock worth $105,080,000 after acquiring an additional 215,670 shares during the period. Madison Asset Management LLC grew its stake in shares of Brookfield Asset Management by 9.5% during the 1st quarter. Madison Asset Management LLC now owns 1,901,985 shares of the financial services provider's stock worth $92,151,000 after acquiring an additional 165,098 shares during the period. Finally, Bamco Inc. NY grew its stake in shares of Brookfield Asset Management by 22.6% during the 4th quarter. Bamco Inc. NY now owns 1,348,906 shares of the financial services provider's stock worth $73,097,000 after acquiring an additional 248,471 shares during the period. Institutional investors own 68.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BAM shares. BMO Capital Markets increased their price target on Brookfield Asset Management from $53.00 to $56.00 and gave the stock a "market perform" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. increased their price target on Brookfield Asset Management from $51.00 to $55.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Wells Fargo & Company increased their price target on Brookfield Asset Management from $55.00 to $57.00 and gave the stock an "underweight" rating in a research note on Friday, July 11th. Royal Bank Of Canada initiated coverage on Brookfield Asset Management in a research note on Wednesday, June 18th. They set an "outperform" rating and a $72.00 price target for the company. Finally, TD Securities increased their price objective on Brookfield Asset Management from $66.00 to $75.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Brookfield Asset Management has a consensus rating of "Moderate Buy" and an average price target of $63.33.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM traded up $0.25 during trading on Wednesday, reaching $60.47. The company had a trading volume of 3,312,737 shares, compared to its average volume of 1,684,387. The company has a fifty day moving average of $59.13 and a two-hundred day moving average of $55.23. The stock has a market capitalization of $99.03 billion, a P/E ratio of 40.58, a price-to-earnings-growth ratio of 2.20 and a beta of 1.44. Brookfield Asset Management Ltd. has a 12 month low of $39.19 and a 12 month high of $64.10. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.14.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). The company had revenue of $1,107,960 billion during the quarter, compared to the consensus estimate of $1.29 billion. Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%. Equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Asset Management's dividend payout ratio (DPR) is currently 117.45%.

Brookfield Asset Management 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.