Y Intercept Hong Kong Ltd Invests $205,000 in Brookfield Asset Management Ltd. (NYSE:BAM)

Key Points

• Y Intercept Hong Kong Ltd has acquired 4,230 shares of Brookfield Asset Management, valued at approximately $205,000, highlighting renewed institutional interest in the company.
• Brookfield Asset Management's quarterly earnings matched analyst expectations at $0.40 per share, although revenue fell short of estimates, coming in at $1.04 billion.
• The company announced a quarterly dividend of $0.4375 per share, translating to an annualized rate of $1.75 and a yield of 2.9% despite a payout ratio of 124.11%.

Y Intercept Hong Kong Ltd purchased a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 4,230 shares of the financial services provider's stock, valued at approximately $205,000.

Other hedge funds have also added to or reduced their stakes in the company. ST Germain D J Co. Inc. bought a new position in Brookfield Asset Management during the 1st quarter worth $26,000. Rossby Financial LCC bought a new position in Brookfield Asset Management during the 1st quarter worth $28,000. NewEdge Advisors LLC increased its stake in Brookfield Asset Management by 61.0% during the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock worth $47,000 after acquiring an additional 325 shares during the period. Larson Financial Group LLC increased its stake in Brookfield Asset Management by 1,079.6% during the 1st quarter. Larson Financial Group LLC now owns 1,097 shares of the financial services provider's stock worth $53,000 after acquiring an additional 1,004 shares during the period. Finally, Kapitalo Investimentos Ltda bought a new position in Brookfield Asset Management during the 4th quarter worth $54,000. 68.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on BAM shares. Wall Street Zen upgraded Brookfield Asset Management from a "sell" rating to a "hold" rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. lifted their price target on Brookfield Asset Management from $51.00 to $55.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Piper Sandler assumed coverage on Brookfield Asset Management in a research note on Monday, June 30th. They issued a "neutral" rating and a $60.00 price target on the stock. TD Securities lifted their price target on Brookfield Asset Management from $66.00 to $75.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Finally, Wells Fargo & Company lifted their price target on Brookfield Asset Management from $55.00 to $57.00 and gave the company an "underweight" rating in a research note on Friday, July 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $62.06.

Brookfield Asset Management Trading Up 0.4%

BAM traded up $0.25 during midday trading on Tuesday, hitting $61.58. 587,238 shares of the company were exchanged, compared to its average volume of 2,094,858. The firm has a market capitalization of $100.85 billion, a P/E ratio of 43.69, a P/E/G ratio of 2.30 and a beta of 1.44. Brookfield Asset Management Ltd. has a 1-year low of $38.18 and a 1-year high of $63.53. The firm's 50 day moving average price is $57.37 and its 200-day moving average price is $54.89. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.07.

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

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.