Woodmont Investment Counsel LLC Purchases 10,196 Shares of Brookfield Asset Management Ltd. $BAM

Key Points

• Woodmont Investment Counsel LLC increased its stake in Brookfield Asset Management by 8.5%, acquiring an additional 10,196 shares in the second quarter, bringing its total holdings to 129,533 shares valued at approximately $7.16 million.
• Brookfield Asset Management reported a Q2 EPS of $0.38, slightly below analysts' expectations, alongside revenues of $1.11 billion, missing estimates of $1.29 billion.
• Analysts have varying outlooks on the stock, with a consensus rating of "Moderate Buy" and a target price averaging $63.52, reflecting general optimism despite recent downgrades from some firms.

Woodmont Investment Counsel LLC raised its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 8.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 129,533 shares of the financial services provider's stock after purchasing an additional 10,196 shares during the period. Woodmont Investment Counsel LLC's holdings in Brookfield Asset Management were worth $7,161,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Kirr Marbach & Co. LLC IN boosted its holdings in Brookfield Asset Management by 0.6% in the 1st quarter. Kirr Marbach & Co. LLC IN now owns 35,400 shares of the financial services provider's stock valued at $1,715,000 after purchasing an additional 203 shares during the period. Lincoln Capital LLC raised its position in shares of Brookfield Asset Management by 0.9% during the 1st quarter. Lincoln Capital LLC now owns 23,151 shares of the financial services provider's stock valued at $1,145,000 after buying an additional 210 shares in the last quarter. Focus Financial Network Inc. raised its position in shares of Brookfield Asset Management by 5.2% during the 1st quarter. Focus Financial Network Inc. now owns 4,442 shares of the financial services provider's stock valued at $215,000 after buying an additional 218 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Brookfield Asset Management by 17.4% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,015 shares of the financial services provider's stock valued at $98,000 after buying an additional 299 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its position in shares of Brookfield Asset Management by 3.2% during the 1st quarter. Advisors Asset Management Inc. now owns 10,171 shares of the financial services provider's stock valued at $493,000 after buying an additional 314 shares in the last quarter. 68.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BAM has been the topic of several research reports. Scotiabank raised their price objective on shares of Brookfield Asset Management from $66.00 to $67.25 and gave the company a "sector outperform" rating in a research report on Thursday, August 7th. Jefferies Financial Group raised their price objective 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 lowered their price objective on shares of Brookfield Asset Management from $65.00 to $60.00 and set a "neutral" rating on the stock in a research report on Thursday, September 11th. National Bank Financial initiated coverage on shares of Brookfield Asset Management in a research report on Tuesday, July 29th. They set an "outperform" rating and a $71.00 price objective on the stock. Finally, Royal Bank Of Canada started 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 objective on the stock. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $63.52.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM opened at $57.83 on Monday. The stock has a market cap of $94.70 billion, a PE ratio of 38.81, a PEG ratio of 2.11 and a beta of 1.39. The company's fifty day moving average is $59.72 and its 200 day moving average is $56.12. Brookfield Asset Management Ltd. has a 52 week low of $41.78 and a 52 week high of $64.10. 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 issued its 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). The business had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.29 billion. Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%. Research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were given a $0.4375 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.0%. Brookfield Asset Management's payout ratio 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.

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