Virtu Financial LLC Invests $261,000 in Brookfield Asset Management Ltd. $BAM

Key Points

• Virtu Financial LLC acquired 5,396 shares of Brookfield Asset Management Ltd. (NYSE:BAM), valued at approximately $261,000, as disclosed in their recent SEC filing.
• Several institutional investors have increased their holdings in Brookfield, with Kirr Marbach & Co. LLC raising their stake by 0.6% and Focus Financial Network Inc. boosting theirs by 5.2% in the first quarter.
• Brookfield Asset Management recently announced a quarterly dividend of $0.4375, translating to an annualized yield of 2.9%, though the company has a high dividend payout ratio of 117.45%.

Virtu Financial LLC bought a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,396 shares of the financial services provider's stock, valued at approximately $261,000.

Other institutional investors have also recently made changes to their positions in the company. Rossby Financial LCC bought a new position in Brookfield Asset Management in the first quarter valued at $28,000. ST Germain D J Co. Inc. bought a new position in Brookfield Asset Management in the first quarter valued at $26,000. NewEdge Advisors LLC increased its stake in Brookfield Asset Management by 61.0% in the fourth quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock valued at $47,000 after acquiring an additional 325 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in Brookfield Asset Management in the fourth quarter valued at $54,000. Finally, Larson Financial Group LLC increased its stake in Brookfield Asset Management by 1,079.6% in 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. Institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Trading Down 2.0%

BAM stock traded down $1.2130 during trading on Tuesday, reaching $60.0170. The company had a trading volume of 1,025,796 shares, compared to its average volume of 2,080,749. Brookfield Asset Management Ltd. has a 52 week low of $39.19 and a 52 week high of $64.10. The company has a market cap of $98.29 billion, a P/E ratio of 40.28, a PEG ratio of 2.24 and a beta of 1.44. The business has a 50 day moving average of $58.45 and a 200 day moving average of $55.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.25.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share (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 company had revenue of $1,107,960 billion during the quarter, compared to the consensus estimate of $1.29 billion. As a group, sell-side analysts forecast 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 announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a $0.4375 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.75 annualized dividend and a yield of 2.9%. Brookfield Asset Management's dividend payout ratio (DPR) is currently 117.45%.

Analyst Upgrades and Downgrades

BAM has been the subject of several analyst reports. Royal Bank Of Canada initiated 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 target for the company. TD Securities upped their price target on shares of Brookfield Asset Management from $66.00 to $75.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Jefferies Financial Group upped their price target on shares of Brookfield Asset Management from $55.00 to $62.00 and gave the company a "hold" rating in a research report on Wednesday, August 13th. Piper Sandler initiated coverage on shares of Brookfield Asset Management in a research report on Monday, June 30th. They set a "neutral" rating and a $60.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $58.00 price target on shares of Brookfield Asset Management in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management has an average rating of "Moderate Buy" and an average price target of $63.33.

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.