Creative Planning Boosts Stock Holdings in Brookfield Asset Management Ltd. $BAM

Creative Planning grew its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 29.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 124,924 shares of the financial services provider’s stock after purchasing an additional 28,502 shares during the period. Creative Planning’s holdings in Brookfield Asset Management were worth $6,906,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Foundations Investment Advisors LLC raised its holdings in Brookfield Asset Management by 16.7% during the 2nd quarter. Foundations Investment Advisors LLC now owns 18,165 shares of the financial services provider’s stock valued at $1,004,000 after acquiring an additional 2,596 shares during the period. Advisors Capital Management LLC purchased a new position in shares of Brookfield Asset Management in the second quarter valued at $201,000. Fiera Capital Corp raised its stake in shares of Brookfield Asset Management by 15.7% during the 2nd quarter. Fiera Capital Corp now owns 151,805 shares of the financial services provider’s stock valued at $8,397,000 after purchasing an additional 20,631 shares during the period. Geode Capital Management LLC lifted its holdings in Brookfield Asset Management by 62.4% during the 2nd quarter. Geode Capital Management LLC now owns 3,755,340 shares of the financial services provider’s stock worth $208,571,000 after purchasing an additional 1,443,441 shares in the last quarter. Finally, Everett Harris & Co. CA boosted its stake in Brookfield Asset Management by 13.3% in the 2nd quarter. Everett Harris & Co. CA now owns 9,149 shares of the financial services provider’s stock worth $506,000 after purchasing an additional 1,071 shares during the period. 68.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Bank of America lowered Brookfield Asset Management from a “buy” rating to a “neutral” rating and set a $68.00 target price for the company. in a report on Thursday, September 4th. Piper Sandler reduced their price objective on shares of Brookfield Asset Management from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, September 11th. Scotiabank decreased their target price on shares of Brookfield Asset Management from $67.25 to $65.75 and set a “sector outperform” rating on the stock in a report on Monday, November 10th. Royal Bank Of Canada raised their price target on shares of Brookfield Asset Management from $74.00 to $76.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Finally, Wall Street Zen lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $64.32.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM opened at $50.55 on Thursday. The company’s fifty day moving average price is $55.70 and its 200-day moving average price is $57.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $82.80 billion, a price-to-earnings ratio of 33.93, a PEG ratio of 2.04 and a beta of 1.38. Brookfield Asset Management Ltd. has a one year low of $41.78 and a one year high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Friday, November 7th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.34 billion. On average, equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be issued a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 109.38%.

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.