Public Employees Retirement System of Ohio Takes $8.23 Million Position in Brookfield Asset Management Ltd. $BAM

Key Points

• Public Employees Retirement System of Ohio acquired 183,593 Brookfield Asset Management shares worth approximately $8.23 million in the second quarter. Institutional investors collectively own 68.41% of the company.
• Analysts maintain a generally neutral outlook, with the stock receiving an average “Hold” rating and an average price target of $59.32; targets range from $55 to $65 among recent reports.
• Brookfield reported quarterly EPS of $0.44, slightly above expectations, on $1.49 billion in revenue. The company also declared a quarterly dividend of $0.5025, implying a 3.9% annualized yield.

Public Employees Retirement System of Ohio acquired a new position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 183,593 shares of the financial services provider's stock, valued at approximately $8,235,000.

Several other large investors have also modified their holdings of the company. AQR Capital Management LLC acquired a new stake in shares of Brookfield Asset Management in the first quarter valued at about $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Brookfield Asset Management by 10.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,050 shares of the financial services provider's stock valued at $12,648,000 after buying an additional 24,013 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Brookfield Asset Management by 24.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,512 shares of the financial services provider's stock valued at $139,000 after purchasing an additional 497 shares during the last quarter. Cerity Partners LLC grew its position in Brookfield Asset Management by 17.6% during the second quarter. Cerity Partners LLC now owns 34,666 shares of the financial services provider's stock worth $1,916,000 after buying an additional 5,184 shares in the last quarter. Finally, State Street Corp increased its position in shares of Brookfield Asset Management by 11,172.2% during the second quarter. State Street Corp now owns 3,524,700 shares of the financial services provider's stock valued at $194,845,000 after purchasing an additional 3,493,431 shares during the period. 68.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Weiss Ratings reissued a "hold (c+)" rating on shares of Brookfield Asset Management in a report on Wednesday, August 12th. Royal Bank Of Canada lowered their target price on shares of Brookfield Asset Management from $74.00 to $65.00 and set an "outperform" rating on the stock in a research note on Monday, May 11th. Morgan Stanley set a $56.00 price target on shares of Brookfield Asset Management and gave the stock an "equal weight" rating in a research report on Tuesday, July 21st. JPMorgan Chase & Co. reduced their target price on shares of Brookfield Asset Management from $72.00 to $60.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 6th. Finally, UBS Group increased their target price on shares of Brookfield Asset Management from $48.00 to $55.00 and gave the stock a "neutral" rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $59.32.

Brookfield Asset Management Trading Down 1.2%

BAM opened at $51.50 on Tuesday. Brookfield Asset Management Ltd. has a 1-year low of $42.20 and a 1-year high of $62.57. The stock has a market capitalization of $84.37 billion, a PE ratio of 29.94, a PEG ratio of 2.13 and a beta of 1.26. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $49.18 and a two-hundred day moving average price of $47.85.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. The business had revenue of $1.49 billion for the quarter, compared to analysts' expectations of $1.47 billion. Brookfield Asset Management had a net margin of 48.89% and a return on equity of 31.50%. As a group, equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.78 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a $0.5025 dividend. This represents a $2.01 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, August 31st. Brookfield Asset Management's dividend payout ratio (DPR) is 116.86%.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company's products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.

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