Forsta AP Fonden Purchases 5,800 Shares of Brookfield Asset Management Ltd. $BAM

Forsta AP Fonden increased its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 6.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 91,300 shares of the financial services provider’s stock after buying an additional 5,800 shares during the quarter. Forsta AP Fonden’s holdings in Brookfield Asset Management were worth $5,043,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. SBI Securities Co. Ltd. raised its holdings in shares of Brookfield Asset Management by 7.8% in the second quarter. SBI Securities Co. Ltd. now owns 3,454 shares of the financial services provider’s stock valued at $191,000 after purchasing an additional 250 shares during the last quarter. Vise Technologies Inc. bought a new position in Brookfield Asset Management in the second quarter valued at $410,000. Addison Advisors LLC increased its stake in Brookfield Asset Management by 33.5% in the 2nd quarter. Addison Advisors LLC now owns 1,407 shares of the financial services provider’s stock valued at $78,000 after buying an additional 353 shares during the last quarter. Rathbones Group PLC lifted its position in Brookfield Asset Management by 1.4% during the 2nd quarter. Rathbones Group PLC now owns 72,144 shares of the financial services provider’s stock worth $3,985,000 after buying an additional 1,000 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Brookfield Asset Management by 3.4% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,262,302 shares of the financial services provider’s stock worth $125,294,000 after buying an additional 74,741 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

Shares of NYSE BAM opened at $51.50 on Friday. The firm has a market cap of $84.35 billion, a P/E ratio of 34.57, a price-to-earnings-growth ratio of 2.04 and a beta of 1.38. The business’s 50 day moving average is $56.08 and its 200-day moving average is $57.36. 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 1-year low of $41.78 and a 1-year high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Friday, November 7th. The financial services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%. Equities research analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th will be issued a $0.4375 dividend. 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 3.4%. Brookfield Asset Management’s payout ratio is currently 109.38%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BAM. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $58.00 target price on shares of Brookfield Asset Management in a research report on Thursday, August 7th. Jefferies Financial Group raised their price target on Brookfield Asset Management from $55.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday, August 13th. TD Securities upped their price objective on Brookfield Asset Management from $66.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Scotiabank cut their price target on shares of Brookfield Asset Management from $67.25 to $65.75 and set a “sector outperform” rating for the company in a research note on Monday, November 10th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Brookfield Asset Management in a research note on Wednesday, November 5th. 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $64.23.

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.