SOL Capital Management CO Purchases 19,756 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

SOL Capital Management CO increased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 62.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,372 shares of the financial services provider's stock after buying an additional 19,756 shares during the period. SOL Capital Management CO's holdings in Brookfield Asset Management were worth $2,489,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new position in Brookfield Asset Management during the 4th quarter worth $287,361,000. William Blair Investment Management LLC bought a new position in shares of Brookfield Asset Management in the fourth quarter worth $204,169,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Brookfield Asset Management by 103.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider's stock worth $216,507,000 after purchasing an additional 2,031,995 shares during the period. Madison Investment Advisors LLC bought a new stake in Brookfield Asset Management during the fourth quarter worth about $94,122,000. Finally, TD Asset Management Inc. grew its stake in Brookfield Asset Management by 8.9% during the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider's stock worth $903,323,000 after buying an additional 1,359,126 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Trading Up 1.7%

BAM traded up $0.90 during trading on Thursday, reaching $55.28. 2,781,283 shares of the stock traded hands, compared to its average volume of 1,476,385. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.07. The stock's 50-day moving average is $55.19 and its 200 day moving average is $54.22. Brookfield Asset Management Ltd. has a 12 month low of $37.40 and a 12 month high of $62.61. The stock has a market capitalization of $90.52 billion, a PE ratio of 39.20, a P/E/G ratio of 2.02 and a beta of 1.51.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share for the quarter, hitting analysts' consensus estimates of $0.40. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.29 billion. Brookfield Asset Management had a return on equity of 52.70% and a net margin of 55.26%. Equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Asset Management's dividend payout ratio is presently 124.11%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BAM. JPMorgan Chase & Co. upped their price target on shares of Brookfield Asset Management from $51.00 to $55.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Morgan Stanley raised their target price on Brookfield Asset Management from $50.00 to $54.00 and gave the company an "equal weight" rating in a report on Friday, May 16th. TD Securities lifted their price target on Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Wall Street Zen raised Brookfield Asset Management from a "sell" rating to a "hold" rating in a report on Tuesday, April 15th. Finally, Wells Fargo & Company raised their price objective on Brookfield Asset Management from $54.00 to $55.00 and gave the company an "underweight" rating in a research note on Friday, May 23rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.46.

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.