Scientech Research LLC Makes New $1.15 Million Investment in Brookfield Asset Management Ltd. $BAM

Key Points

• Scientech Research LLC has made a new investment of approximately $1.15 million by purchasing 23,668 shares of Brookfield Asset Management Ltd. during the first quarter.
• Institutional investors own 68.41% of Brookfield’s stock, with several firms significantly increasing their stakes, including Barclays PLC which boosted its position by 274%.
• Brookfield Asset Management's stock received multiple analyst upgrades, with recent price targets ranging between $56.00 and $72.00, reflecting a consensus rating of "Moderate Buy" with a price target of $63.52.

Scientech Research LLC acquired a new stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 23,668 shares of the financial services provider's stock, valued at approximately $1,147,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Brookfield Asset Management by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider's stock valued at $832,833,000 after purchasing an additional 302,852 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Brookfield Asset Management by 58.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 3,360,125 shares of the financial services provider's stock valued at $163,354,000 after purchasing an additional 1,246,011 shares in the last quarter. Douglass Winthrop Advisors LLC lifted its holdings 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 in the last quarter. Bank of Nova Scotia lifted its holdings in Brookfield Asset Management by 1.2% in the 1st quarter. Bank of Nova Scotia now owns 2,269,833 shares of the financial services provider's stock valued at $109,913,000 after purchasing an additional 27,913 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in Brookfield Asset Management by 12.5% in the 4th quarter. Bank of America Corp DE now owns 1,939,109 shares of the financial services provider's stock valued at $105,080,000 after purchasing an additional 215,670 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Performance

Shares of NYSE BAM traded down $0.75 during midday trading on Tuesday, reaching $56.16. 1,548,826 shares of the company traded hands, compared to its average volume of 1,823,542. Brookfield Asset Management Ltd. has a 52 week low of $41.68 and a 52 week high of $64.10. The stock has a 50-day moving average price of $59.84 and a 200 day moving average price of $55.22. 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 company has a market cap of $91.97 billion, a price-to-earnings ratio of 37.69, a PEG ratio of 2.08 and a beta of 1.44.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings data 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 net margin of 55.92% and a return on equity of 41.12%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.29 billion. Sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, August 29th. Brookfield Asset Management's payout ratio is currently 117.45%.

Analyst Upgrades and Downgrades

BAM has been the topic of a number of recent research reports. CIBC upped their target price on shares of Brookfield Asset Management from $70.00 to $71.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Jefferies Financial Group increased their price objective on shares of Brookfield Asset Management from $55.00 to $62.00 and gave the stock a "hold" rating in a report on Wednesday, August 13th. Bank of America lowered shares of Brookfield Asset Management from a "buy" rating to a "neutral" rating and set a $68.00 price objective on the stock. in a report on Thursday, September 4th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $58.00 price objective on shares of Brookfield Asset Management in a report on Thursday, August 7th. Finally, BMO Capital Markets increased their price objective on shares of Brookfield Asset Management from $53.00 to $56.00 and gave the stock a "market perform" rating in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Brookfield Asset Management has an average rating of "Moderate Buy" and an average target price 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.