Brookfield Asset Management Ltd. $BAM Position Boosted by Rathbones Group PLC

Rathbones Group PLC grew its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,144 shares of the financial services provider’s stock after purchasing an additional 1,000 shares during the period. Rathbones Group PLC’s holdings in Brookfield Asset Management were worth $3,985,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Cerity Partners LLC grew its position in Brookfield Asset Management by 36.6% in the first quarter. Cerity Partners LLC now owns 29,482 shares of the financial services provider’s stock worth $1,428,000 after acquiring an additional 7,901 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Brookfield Asset Management by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider’s stock valued at $832,833,000 after purchasing an additional 302,852 shares during the last quarter. Jump Financial LLC bought a new stake in Brookfield Asset Management in the first quarter worth $629,000. Envestnet Asset Management Inc. boosted its holdings in Brookfield Asset Management by 1.6% in the second quarter. Envestnet Asset Management Inc. now owns 430,081 shares of the financial services provider’s stock worth $23,774,000 after purchasing an additional 6,728 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in Brookfield Asset Management by 9.8% during the first quarter. Canada Pension Plan Investment Board now owns 1,096,412 shares of the financial services provider’s stock worth $53,083,000 after buying an additional 97,445 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Trading Down 0.6%

Shares of Brookfield Asset Management stock opened at $52.97 on Monday. Brookfield Asset Management Ltd. has a 1 year low of $41.78 and a 1 year high of $64.10. The company’s fifty day simple moving average is $56.67 and its 200-day simple moving average is $57.42. The company has a market cap of $86.75 billion, a price-to-earnings ratio of 35.55, a PEG ratio of 2.04 and a beta of 1.38. 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 Friday, November 7th. The financial services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.34 billion. As a group, sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be given a dividend of $0.4375 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.75 dividend on an annualized basis and a yield of 3.3%. Brookfield Asset Management’s dividend payout ratio (DPR) is 109.38%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $58.00 price target on shares of Brookfield Asset Management in a research report on Thursday, August 7th. Weiss Ratings restated a “buy (b)” rating on shares of Brookfield Asset Management in a report on Wednesday. Bank of America cut 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. National Bankshares dropped their price target on shares of Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating on the stock in a research report on Monday, October 27th. Finally, CIBC boosted their price objective on shares of Brookfield Asset Management from $70.00 to $71.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Two research 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Brookfield Asset Management has an average rating of “Moderate Buy” and an average price target of $64.14.

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.