William Blair Investment Management LLC decreased its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 10.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,345,539 shares of the financial services provider's stock after selling 409,579 shares during the period. William Blair Investment Management LLC owned approximately 0.20% of Brookfield Asset Management worth $184,941,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Private Trust Co. NA raised its position in shares of Brookfield Asset Management by 22.5% in the 2nd quarter. Private Trust Co. NA now owns 1,532 shares of the financial services provider's stock worth $85,000 after acquiring an additional 281 shares in the last quarter. TD Asset Management Inc lifted its stake in Brookfield Asset Management by 1.6% in the second quarter. TD Asset Management Inc now owns 15,589,384 shares of the financial services provider's stock valued at $861,101,000 after buying an additional 250,068 shares during the period. Verdence Capital Advisors LLC bought a new position in shares of Brookfield Asset Management during the 2nd quarter worth approximately $209,000. Sequoia Financial Advisors LLC grew its position in shares of Brookfield Asset Management by 0.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 290,496 shares of the financial services provider's stock worth $16,059,000 after buying an additional 1,114 shares during the period. Finally, Yousif Capital Management LLC increased its stake in shares of Brookfield Asset Management by 72.5% in the 2nd quarter. Yousif Capital Management LLC now owns 10,784 shares of the financial services provider's stock valued at $596,000 after acquiring an additional 4,533 shares in the last quarter. Institutional investors own 68.41% of the company's stock.
Brookfield Asset Management Stock Performance
NYSE BAM opened at $54.16 on Friday. The company has a fifty day moving average price of $58.69 and a 200-day moving average price of $56.49. The firm has a market cap of $88.71 billion, a price-to-earnings ratio of 36.35, a PEG ratio of 2.02 and a beta of 1.39. 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 Ltd. has a 1 year low of $41.78 and a 1 year high of $64.10.
Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted 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). Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. The firm had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.29 billion. As a group, equities research 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 announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were given a dividend of $0.4375 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.75 annualized dividend and a dividend yield of 3.2%. Brookfield Asset Management's dividend payout ratio (DPR) is currently 117.45%.
Analyst Upgrades and Downgrades
Several research firms have weighed in on BAM. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Brookfield Asset Management in a research note on Wednesday, October 8th. National Bank Financial began coverage on Brookfield Asset Management in a research note on Tuesday, July 29th. They set an "outperform" rating and a $71.00 price target on the stock. TD Securities boosted their price objective on Brookfield Asset Management from $66.00 to $75.00 and gave the company a "buy" rating in a report on Monday, July 28th. Jefferies Financial Group upped their target price on Brookfield Asset Management from $55.00 to $62.00 and gave the stock a "hold" rating in a research report on Wednesday, August 13th. Finally, BMO Capital Markets lifted 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. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $64.27.
Read Our Latest Stock Report on BAM
About Brookfield Asset Management
(
Free Report)
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.
See Also
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