Woodmont Investment Counsel LLC Invests $5.78 Million in Brookfield Asset Management Ltd. (NYSE:BAM)

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

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Louisbourg Investments Inc. increased its holdings in Brookfield Asset Management by 1.2% during the 1st quarter. Louisbourg Investments Inc. now owns 50,152 shares of the financial services provider's stock worth $2,430,000 after purchasing an additional 600 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Brookfield Asset Management by 4.0% in the first quarter. Janney Montgomery Scott LLC now owns 221,222 shares of the financial services provider's stock worth $10,718,000 after buying an additional 8,415 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Brookfield Asset Management by 2.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 43,002 shares of the financial services provider's stock worth $2,083,000 after buying an additional 854 shares in the last quarter. Focus Financial Network Inc. increased its stake in Brookfield Asset Management by 5.2% in the first quarter. Focus Financial Network Inc. now owns 4,442 shares of the financial services provider's stock valued at $215,000 after acquiring an additional 218 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Brookfield Asset Management by 157.3% in the first quarter. Assenagon Asset Management S.A. now owns 10,183 shares of the financial services provider's stock valued at $493,000 after acquiring an additional 6,225 shares during the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Price Performance

Shares of BAM traded down $0.28 during midday trading on Friday, hitting $54.37. 1,526,475 shares of the company traded hands, compared to its average volume of 1,460,438. The firm has a 50 day moving average of $54.81 and a 200-day moving average of $54.26. Brookfield Asset Management Ltd. has a 52 week low of $37.40 and a 52 week high of $62.61. The stock has a market cap of $87.67 billion, a price-to-earnings ratio of 38.56, a PEG ratio of 1.97 and a beta of 1.51. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.31 and a current ratio of 1.31.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.29 billion. On average, analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Asset Management's dividend payout ratio (DPR) is presently 124.11%.

Analysts Set New Price Targets

BAM has been the topic of several recent analyst reports. TD Securities raised their target price on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Bank of America upgraded shares of Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 target price for the company in a report on Thursday, April 10th. Royal Bank Of Canada initiated coverage on shares of Brookfield Asset Management in a report on Wednesday. They issued an "outperform" rating and a $72.00 price objective for the company. Jefferies Financial Group decreased their target price on shares of Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. Finally, Scotiabank upped their price objective on Brookfield Asset Management from $58.00 to $59.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $59.46.

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.