TD Asset Management Inc Increases Position in Brookfield Asset Management Ltd. $BAM

Key Points

• TD Asset Management Inc has increased its stake in Brookfield Asset Management Ltd. by 1.6%, owning approximately 15.6 million shares valued at $861.1 million as of the latest reporting period.
• Brookfield Asset Management reported earnings per share of $0.38 for the last quarter, missing analysts' expectations of $0.39, with a revenue of $1.11 billion.
• The company recently declared a quarterly dividend of $0.4375, resulting in an annualized dividend yield of 3.1% and a payout ratio of 117.45%.

TD Asset Management Inc boosted its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 1.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,589,384 shares of the financial services provider's stock after buying an additional 250,068 shares during the period. TD Asset Management Inc owned approximately 0.95% of Brookfield Asset Management worth $861,101,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Rossby Financial LCC bought a new position in shares of Brookfield Asset Management in the first quarter worth approximately $28,000. Truvestments Capital LLC raised its holdings in Brookfield Asset Management by 85.5% in the 1st quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider's stock worth $45,000 after acquiring an additional 432 shares during the last quarter. DHJJ Financial Advisors Ltd. lifted its position in Brookfield Asset Management by 100,000.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 1,001 shares of the financial services provider's stock valued at $55,000 after acquiring an additional 1,000 shares in the last quarter. Trust Co. of Vermont boosted its stake in Brookfield Asset Management by 90.4% during the 2nd quarter. Trust Co. of Vermont now owns 1,070 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 508 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of 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 purchasing an additional 1,004 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Trading Up 3.5%

Shares of NYSE:BAM opened at $56.96 on Tuesday. The stock has a 50 day moving average of $59.20 and a 200 day moving average of $56.42. The company has a market cap of $93.29 billion, a PE ratio of 38.23, a price-to-earnings-growth ratio of 2.03 and a beta of 1.39. Brookfield Asset Management Ltd. has a 12-month low of $41.78 and a 12-month high of $64.10. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.14.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share 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 analysts' expectations of $1.29 billion. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. As a group, equities research analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were given a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, August 29th. Brookfield Asset Management's payout ratio is presently 117.45%.

Analysts Set New Price Targets

BAM has been the topic of several recent analyst reports. Morgan Stanley set a $62.00 price objective on Brookfield Asset Management in a research report on Monday. Jefferies Financial Group lifted their price target on shares of Brookfield Asset Management from $55.00 to $62.00 and gave the stock a "hold" rating in a research note on Wednesday, August 13th. Scotiabank raised their target price on shares of Brookfield Asset Management from $66.00 to $67.25 and gave the stock a "sector outperform" rating in a report on Thursday, August 7th. Piper Sandler dropped their price target on Brookfield Asset Management from $65.00 to $60.00 and set a "neutral" rating on the stock in a research note on Thursday, September 11th. Finally, Wells Fargo & Company upped their price objective on Brookfield Asset Management from $55.00 to $57.00 and gave the company an "underweight" rating in a research report on Friday, July 11th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $64.02.

Brookfield Asset Management 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.

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