Vanguard Personalized Indexing Management LLC Acquires 6,219 Shares of Brookfield Asset Management Ltd. $BAM

Key Points

• Vanguard Personalized Indexing Management LLC increased its holdings in Brookfield Asset Management by 22.9%, acquiring an additional 6,219 shares, bringing their total to 33,362 shares valued at approximately $1.85 million.
• Brookfield Asset Management recently reported $0.38 EPS for the quarter, missing analysts' estimates, with total revenue of $1.11 billion compared to expectations of $1.29 billion.
• The company declared a quarterly dividend of $0.4375, indicating an annualized yield of 3.2%, despite a dividend payout ratio of 117.45%.

Vanguard Personalized Indexing Management LLC raised its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 22.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,362 shares of the financial services provider's stock after acquiring an additional 6,219 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Brookfield Asset Management were worth $1,850,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rossby Financial LCC bought a new position in Brookfield Asset Management during the first quarter valued at approximately $28,000. Truvestments Capital LLC grew its position in Brookfield Asset Management by 85.5% during the first quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 432 shares during the last quarter. DHJJ Financial Advisors Ltd. grew its position in Brookfield Asset Management by 100,000.0% during the second 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 during the last quarter. Trust Co. of Vermont grew its position in Brookfield Asset Management by 90.4% during the second quarter. Trust Co. of Vermont now owns 1,070 shares of the financial services provider's stock valued at $59,000 after acquiring an additional 508 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in Brookfield Asset Management by 1,079.6% during the first quarter. Larson Financial Group LLC now owns 1,097 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 1,004 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. BMO Capital Markets increased their price target on shares of Brookfield Asset Management from $53.00 to $56.00 and gave the company a "market perform" rating in a research report on Thursday, August 7th. Wells Fargo & Company raised their target price on shares of Brookfield Asset Management from $55.00 to $57.00 and gave the stock an "underweight" rating in a report on Friday, July 11th. CIBC raised their target price on shares of Brookfield Asset Management from $70.00 to $71.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Morgan Stanley set a $62.00 target price on shares of Brookfield Asset Management in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $58.00 target price on shares of Brookfield Asset Management in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $64.27.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $54.17 on Friday. The stock has a fifty day moving average of $58.83 and a 200 day moving average of $56.46. Brookfield Asset Management Ltd. has a 52 week low of $41.78 and a 52 week high of $64.10. The firm has a market capitalization of $88.72 billion, a price-to-earnings ratio of 36.36, a PEG ratio of 2.10 and a beta of 1.39. The company has a quick ratio of 1.25, a current 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 announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%.The business had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.29 billion. As a group, research analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were paid a $0.4375 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.75 dividend on an annualized basis and a yield of 3.2%. Brookfield Asset Management's dividend payout ratio (DPR) is presently 117.45%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.