Brookfield Asset Management Ltd. (NYSE:BAM) Shares Purchased by SOL Capital Management CO

SOL Capital Management CO lifted its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 62.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of BAM. Norges Bank purchased a new position in Brookfield Asset Management during the 4th quarter worth $287,361,000. William Blair Investment Management LLC purchased a new position in Brookfield Asset Management during the 4th quarter worth $204,169,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Brookfield Asset Management by 103.4% during the 4th 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 last quarter. Madison Investment Advisors LLC purchased a new position in Brookfield Asset Management during the 4th quarter worth $94,122,000. Finally, TD Asset Management Inc. grew its position in Brookfield Asset Management by 8.9% during the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider's stock worth $903,323,000 after purchasing an additional 1,359,126 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM traded down $0.11 during midday trading on Friday, hitting $55.01. The stock had a trading volume of 23,014,754 shares, compared to its average volume of 1,570,516. The company has a market capitalization of $90.08 billion, a PE ratio of 39.02, a P/E/G ratio of 2.00 and a beta of 1.51. The stock has a 50 day moving average price of $55.45 and a two-hundred day moving average price of $54.13. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.07. Brookfield Asset Management Ltd. has a 1 year low of $37.40 and a 1 year high of $62.61.

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, meeting the consensus estimate of $0.40. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.29 billion. As a group, equities analysts predict 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, June 30th. Investors of record on Friday, May 30th will be paid a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Asset Management's dividend payout ratio (DPR) is 124.11%.

Wall Street Analysts Forecast Growth

BAM has been the topic of several research reports. Scotiabank raised their price objective on shares of Brookfield Asset Management from $58.00 to $59.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Wall Street Zen raised shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a research report on Tuesday, April 15th. TD Securities raised their price objective on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Wells Fargo & Company raised their price objective on shares of Brookfield Asset Management from $54.00 to $55.00 and gave the stock an "underweight" rating in a research report on Friday, May 23rd. Finally, Royal Bank Of Canada began coverage on shares of Brookfield Asset Management in a research report on Wednesday, June 18th. They set an "outperform" rating and a $72.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $59.46.

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.