Woodmont Investment Counsel LLC Makes New Investment in Brookfield Asset Management Ltd. (NYSE:BAM)

Woodmont Investment Counsel LLC purchased a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 119,337 shares of the financial services provider's stock, valued at approximately $5,782,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Securities Inc. boosted its stake in Brookfield Asset Management by 5.4% during the 4th quarter. Principal Securities Inc. now owns 8,291 shares of the financial services provider's stock valued at $449,000 after purchasing an additional 427 shares during the period. Sanctuary Advisors LLC raised its holdings in shares of Brookfield Asset Management by 2.3% during the fourth quarter. Sanctuary Advisors LLC now owns 20,617 shares of the financial services provider's stock valued at $1,117,000 after buying an additional 462 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of Brookfield Asset Management by 170.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,406 shares of the financial services provider's stock worth $76,000 after buying an additional 887 shares during the period. Bank of New York Mellon Corp grew its holdings in Brookfield Asset Management by 6.1% in the 4th quarter. Bank of New York Mellon Corp now owns 663,389 shares of the financial services provider's stock worth $35,949,000 after buying an additional 38,331 shares in the last quarter. Finally, Sprott Inc. increased its position in Brookfield Asset Management by 21.0% in the 4th quarter. Sprott Inc. now owns 25,886 shares of the financial services provider's stock valued at $1,403,000 after acquiring an additional 4,501 shares during the period. Institutional investors and hedge funds own 68.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Brookfield Asset Management from $51.00 to $55.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Jefferies Financial Group reduced their price objective on shares of Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. Royal Bank Of Canada began coverage on shares of Brookfield Asset Management in a research note on Wednesday, June 18th. They set an "outperform" rating and a $72.00 target price on the stock. Morgan Stanley upped their price target on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Friday, May 16th. Finally, Wall Street Zen upgraded shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Brookfield Asset Management has a consensus rating of "Moderate Buy" and a consensus price target of $59.46.

Brookfield Asset Management Price Performance

Shares of NYSE BAM traded up $1.66 during mid-day trading on Tuesday, reaching $55.67. The company had a trading volume of 1,636,335 shares, compared to its average volume of 1,462,621. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.07. Brookfield Asset Management Ltd. has a 1-year low of $37.40 and a 1-year high of $62.61. The stock has a market cap of $89.77 billion, a PE ratio of 39.48, a P/E/G ratio of 1.97 and a beta of 1.51. The company has a 50-day moving average price of $54.92 and a two-hundred day moving average price of $54.21.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, hitting analysts' consensus estimates of $0.40. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.29 billion. On average, equities analysts anticipate 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 will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.4375 per share. The ex-dividend date is Friday, May 30th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.14%. Brookfield Asset Management's dividend payout ratio is 124.11%.

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.