Demars Financial Group LLC Buys New Position in Brookfield Asset Management Ltd. $BAM

Demars Financial Group LLC bought a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the 1st quarter, Holdings Channel.com reports. The firm bought 17,740 shares of the financial services provider’s stock, valued at approximately $789,000.

A number of other large investors have also recently bought and sold shares of the company. Focus Financial Network Inc. grew its stake in shares of Brookfield Asset Management by 4.6% during the 4th quarter. Focus Financial Network Inc. now owns 4,436 shares of the financial services provider’s stock worth $232,000 after acquiring an additional 194 shares in the last quarter. Crescent Grove Advisors LLC lifted its position in shares of Brookfield Asset Management by 4.3% in the fourth quarter. Crescent Grove Advisors LLC now owns 4,800 shares of the financial services provider’s stock worth $251,000 after purchasing an additional 200 shares in the last quarter. Kestra Advisory Services LLC lifted its position in shares of Brookfield Asset Management by 3.6% in the fourth quarter. Kestra Advisory Services LLC now owns 6,301 shares of the financial services provider’s stock worth $330,000 after purchasing an additional 218 shares in the last quarter. Foundations Investment Advisors LLC boosted its holdings in Brookfield Asset Management by 1.3% during the fourth quarter. Foundations Investment Advisors LLC now owns 17,165 shares of the financial services provider’s stock worth $899,000 after purchasing an additional 226 shares during the last quarter. Finally, Kraematon Investment Advisors Inc. boosted its holdings in Brookfield Asset Management by 2.0% during the fourth quarter. Kraematon Investment Advisors Inc. now owns 12,073 shares of the financial services provider’s stock worth $632,000 after purchasing an additional 234 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Stock Down 2.4%

Brookfield Asset Management stock opened at $45.46 on Thursday. The stock has a market cap of $74.46 billion, a P/E ratio of 29.52, a P/E/G ratio of 1.88 and a beta of 1.29. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.34. Brookfield Asset Management Ltd. has a twelve month low of $42.20 and a twelve month high of $64.10. The company’s 50-day moving average price is $47.25 and its two-hundred day moving average price is $48.32.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%.The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.43 billion. As a group, analysts expect that Brookfield Asset Management Ltd. will post 1.74 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were issued a dividend of $0.5025 per share. This represents a $2.01 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Friday, May 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 130.52%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BAM shares. Piper Sandler reaffirmed a “neutral” rating and issued a $50.00 target price (up from $48.00) on shares of Brookfield Asset Management in a research report on Monday, May 18th. Wall Street Zen downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. JPMorgan Chase & Co. decreased their price objective on Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. The Goldman Sachs Group lowered their target price on Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Finally, Royal Bank Of Canada reduced their price target on Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.21.

Brookfield Asset Management Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.