Scientech Research LLC Buys Shares of 23,668 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 shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 added to or reduced their stakes in the company. Millennium Management LLC lifted its holdings in shares of Brookfield Asset Management by 461.5% during the 1st quarter. Millennium Management LLC now owns 1,722,683 shares of the financial services provider's stock valued at $83,464,000 after purchasing an additional 1,415,866 shares during the last quarter. EdgePoint Investment Group Inc. increased its position in Brookfield Asset Management by 9.5% during the 1st quarter. EdgePoint Investment Group Inc. now owns 159,255 shares of the financial services provider's stock valued at $7,710,000 after buying an additional 13,796 shares in the last quarter. Belmont Capital LLC purchased a new stake in Brookfield Asset Management in the first quarter valued at about $190,000. AQR Capital Management LLC acquired a new stake in Brookfield Asset Management in the first quarter worth about $235,000. Finally, Advisors Asset Management Inc. grew its stake in shares of Brookfield Asset Management by 3.2% during the first quarter. Advisors Asset Management Inc. now owns 10,171 shares of the financial services provider's stock worth $493,000 after acquiring an additional 314 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Jefferies Financial Group increased 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. TD Securities upped their price target on shares of Brookfield Asset Management from $66.00 to $75.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Wells Fargo & Company lifted their price objective on shares of Brookfield Asset Management from $55.00 to $57.00 and gave the stock an "underweight" rating in a research note on Friday, July 11th. 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, BMO Capital Markets raised their target price 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. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Brookfield Asset Management currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.52.

Brookfield Asset Management Stock Performance

NYSE:BAM traded down $0.17 during trading hours on Friday, reaching $56.56. The company had a trading volume of 393,782 shares, compared to its average volume of 2,081,529. 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 business's 50 day moving average price is $59.84 and its 200-day moving average price is $55.22. Brookfield Asset Management Ltd. has a 1-year low of $41.78 and a 1-year high of $64.10. The firm has a market cap of $92.63 billion, a PE ratio of 38.02, a price-to-earnings-growth ratio of 2.03 and a beta of 1.44.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. Research analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Announces Dividend

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

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.