Steward Partners Investment Advisory LLC Raises Stock Holdings in Brookfield Asset Management Ltd. $BAM

Key Points

• Steward Partners Investment Advisory LLC has increased its stake in Brookfield Asset Management Ltd. by 6.2% during the first quarter, with holdings now valued at approximately $5.08 million.
• The company reported $0.38 earnings per share for the last quarter, missing estimates, while revenue was $1.11 billion, compared to the consensus of $1.29 billion.
• Brookfield Asset Management declared a quarterly dividend of $0.4375 per share, representing a 2.9% dividend yield, with a payout ratio of 117.45%.

Steward Partners Investment Advisory LLC lifted its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 6.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,978 shares of the financial services provider's stock after purchasing an additional 6,134 shares during the period. Steward Partners Investment Advisory LLC's holdings in Brookfield Asset Management were worth $5,086,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in BAM. ST Germain D J Co. Inc. bought a new stake in shares of Brookfield Asset Management during the 1st quarter worth $26,000. Rossby Financial LCC purchased a new stake in Brookfield Asset Management in the 1st quarter worth about $28,000. NewEdge Advisors LLC increased its holdings in Brookfield Asset Management by 61.0% in the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock worth $47,000 after acquiring an additional 325 shares during the last quarter. Larson Financial Group LLC increased its holdings in Brookfield Asset Management by 1,079.6% in the 1st quarter. Larson Financial Group LLC now owns 1,097 shares of the financial services provider's stock worth $53,000 after acquiring an additional 1,004 shares during the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in Brookfield Asset Management in the 4th quarter worth about $54,000. 68.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BAM shares. CIBC lifted their price objective on Brookfield Asset Management from $70.00 to $71.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Wells Fargo & Company lifted their price objective on Brookfield Asset Management from $55.00 to $57.00 and gave the stock an "underweight" rating in a report on Friday, July 11th. Scotiabank lifted their target price on Brookfield Asset Management from $66.00 to $67.25 and gave the company a "sector outperform" rating in a report on Thursday, August 7th. Piper Sandler assumed coverage on Brookfield Asset Management in a report on Monday, June 30th. They set a "neutral" rating and a $60.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $58.00 target price on shares of Brookfield Asset Management in a report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Brookfield Asset Management has a consensus rating of "Moderate Buy" and a consensus price target of $63.33.

Brookfield Asset Management Price Performance

NYSE BAM traded up $1.9940 during trading hours on Friday, reaching $61.0040. 1,014,968 shares of the stock traded hands, compared to its average volume of 1,638,633. 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 stock has a 50 day simple moving average of $58.78 and a two-hundred day simple moving average of $55.17. Brookfield Asset Management Ltd. has a 1 year low of $39.19 and a 1 year high of $64.10. The company has a market cap of $99.91 billion, a price-to-earnings ratio of 40.94, a price-to-earnings-growth ratio of 2.23 and a beta of 1.44.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings data 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 $1,107,960 billion for the quarter, compared to the consensus estimate of $1.29 billion. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. On average, analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.4375 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.75 annualized dividend and a dividend yield of 2.9%. Brookfield Asset Management's dividend payout ratio (DPR) is 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.