GoalVest Advisory LLC Acquires 190 Shares of Brookfield Asset Management Ltd. $BAM

GoalVest Advisory LLC grew its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 9.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,180 shares of the financial services provider’s stock after purchasing an additional 190 shares during the period. GoalVest Advisory LLC’s holdings in Brookfield Asset Management were worth $121,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Lincoln Capital LLC grew 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 purchasing an additional 210 shares in the last quarter. Kirr Marbach & Co. LLC IN lifted its stake in Brookfield Asset Management by 0.7% in the second quarter. Kirr Marbach & Co. LLC IN now owns 35,649 shares of the financial services provider’s stock worth $1,971,000 after purchasing an additional 249 shares during the last quarter. Private Trust Co. NA lifted its stake in Brookfield Asset Management by 22.5% in the second quarter. Private Trust Co. NA now owns 1,532 shares of the financial services provider’s stock worth $85,000 after purchasing an additional 281 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Brookfield Asset Management by 17.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,015 shares of the financial services provider’s stock worth $98,000 after purchasing an additional 299 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in Brookfield Asset Management by 3.2% in the first quarter. Advisors Asset Management Inc. now owns 10,171 shares of the financial services provider’s stock worth $493,000 after purchasing an additional 314 shares during the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Trading Up 1.1%

Shares of NYSE:BAM opened at $54.38 on Monday. The stock has a 50 day moving average of $57.91 and a 200 day moving average of $56.95. The company has a market cap of $89.05 billion, a PE ratio of 36.49, a price-to-earnings-growth ratio of 2.03 and a beta of 1.39. Brookfield Asset Management Ltd. has a 12-month low of $41.78 and a 12-month high of $64.10. 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 (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.29 billion. As a group, equities research analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were issued a dividend of $0.4375 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.75 annualized dividend and a yield of 3.2%. Brookfield Asset Management’s payout ratio is currently 117.45%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Jefferies Financial Group upped 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 note on Wednesday, August 13th. Royal Bank Of Canada upped their price objective on shares of Brookfield Asset Management from $74.00 to $76.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. National Bank Financial started coverage on Brookfield Asset Management in a research note on Tuesday, July 29th. They issued an “outperform” rating and a $71.00 price target on the stock. Bank of America cut shares of Brookfield Asset Management from a “buy” rating to a “neutral” rating and set a $68.00 price target on the stock. in a report on Thursday, September 4th. Finally, Scotiabank increased their price target on shares of Brookfield Asset Management from $66.00 to $67.25 and gave the company a “sector outperform” rating in a report on Thursday, August 7th. Two equities 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 company. According to MarketBeat.com, Brookfield Asset Management currently has an average rating of “Moderate Buy” and a consensus price target of $64.27.

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.