MGO One Seven LLC Invests $304,000 in Brookfield Asset Management Ltd. $BAM

MGO One Seven LLC purchased a new position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 5,505 shares of the financial services provider’s stock, valued at approximately $304,000.

Several other hedge funds have also recently modified their holdings of BAM. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Brookfield Asset Management by 975.9% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,765,220 shares of the financial services provider’s stock valued at $85,463,000 after acquiring an additional 1,601,155 shares during the last quarter. Millennium Management LLC lifted its position in Brookfield Asset Management by 461.5% during the first quarter. Millennium Management LLC now owns 1,722,683 shares of the financial services provider’s stock valued at $83,464,000 after acquiring an additional 1,415,866 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Brookfield Asset Management by 58.9% during the first quarter. The Manufacturers Life Insurance Company now owns 3,360,125 shares of the financial services provider’s stock valued at $163,354,000 after acquiring an additional 1,246,011 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Brookfield Asset Management by 107.4% during the first quarter. Goldman Sachs Group Inc. now owns 2,363,192 shares of the financial services provider’s stock valued at $114,497,000 after acquiring an additional 1,224,012 shares during the last quarter. Finally, AGF Management Ltd. lifted its position in Brookfield Asset Management by 60.5% during the first quarter. AGF Management Ltd. now owns 1,603,608 shares of the financial services provider’s stock valued at $77,742,000 after acquiring an additional 604,395 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on BAM shares. BMO Capital Markets increased their target price 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. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $58.00 target price on shares of Brookfield Asset Management in a research report on Thursday, August 7th. Bank of America cut shares of Brookfield Asset Management from a “buy” rating to a “neutral” rating and set a $68.00 target price for the company. in a research report on Thursday, September 4th. CIBC upped their price target on shares of Brookfield Asset Management from $70.00 to $71.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Finally, National Bankshares set a $71.00 price target on shares of Brookfield Asset Management and gave the company an “outperform” rating in a research note on Tuesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $64.27.

Brookfield Asset Management Trading Up 0.0%

Shares of Brookfield Asset Management stock opened at $54.16 on Monday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.14. Brookfield Asset Management Ltd. has a 12-month low of $41.78 and a 12-month high of $64.10. The firm has a market capitalization 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 firm’s 50 day simple moving average is $58.69 and its two-hundred day simple moving average is $56.59.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share 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 analyst estimates of $1.29 billion. Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%. Analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were paid 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 3.2%. Brookfield Asset Management’s dividend payout ratio is presently 117.45%.

Brookfield Asset Management Company 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.