Rezny Wealth Management Inc. Makes New $2.12 Million Investment in Brookfield Asset Management Ltd. $BAM

Key Points

• Rezny Wealth Management Inc. invested approximately $2.12 million to purchase 38,381 shares in Brookfield Asset Management Ltd., making it the firm's 19th largest position.
• Brookfield Asset Management has seen significant increases in investment from other institutional investors, including a 58.9% increase from The Manufacturers Life Insurance Company during the first quarter.
• The company's recent earnings report revealed a miss on analysts' estimates, reporting $0.38 earnings per share against an expectation of $0.39.

Rezny Wealth Management Inc. purchased a new stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 38,381 shares of the financial services provider's stock, valued at approximately $2,122,000. Brookfield Asset Management comprises 0.5% of Rezny Wealth Management Inc.'s investment portfolio, making the stock its 19th biggest position.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Brookfield Asset Management by 1.8% during the first quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider's stock worth $832,833,000 after buying an additional 302,852 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Brookfield Asset Management by 58.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 3,360,125 shares of the financial services provider's stock worth $163,354,000 after purchasing an additional 1,246,011 shares in the last quarter. Douglass Winthrop Advisors LLC raised its stake in Brookfield Asset Management by 0.5% in the 1st quarter. Douglass Winthrop Advisors LLC now owns 2,672,065 shares of the financial services provider's stock valued at $129,342,000 after purchasing an additional 14,498 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Brookfield Asset Management by 107.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,363,192 shares of the financial services provider's stock valued at $114,497,000 after purchasing an additional 1,224,012 shares in the last quarter. Finally, Bank of Nova Scotia boosted 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 purchasing an additional 27,913 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Jefferies Financial Group boosted their price objective 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. National Bankshares set a $71.00 price target on Brookfield Asset Management and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. Royal Bank Of Canada initiated coverage on Brookfield Asset Management in a research note on Wednesday, June 18th. They issued an "outperform" rating and a $72.00 target price for the company. Bank of America downgraded Brookfield Asset Management from a "buy" rating to a "neutral" rating and set a $68.00 target price on the stock. in a research report on Thursday, September 4th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $58.00 price objective on shares of Brookfield Asset Management in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $63.52.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock opened at $58.09 on Friday. The firm has a fifty day moving average of $60.20 and a 200-day moving average of $55.69. Brookfield Asset Management Ltd. has a 52-week low of $41.78 and a 52-week high of $64.10. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $95.14 billion, a P/E ratio of 38.99, a PEG ratio of 2.12 and a beta of 1.44.

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 for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%.The business had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.29 billion. As a group, analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, August 29th. Brookfield Asset Management's dividend payout ratio (DPR) is presently 117.45%.

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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