Brookfield Asset Management Ltd. $BAM Shares Bought by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. lifted its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 81.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,114 shares of the financial services provider’s stock after purchasing an additional 7,691 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Brookfield Asset Management were worth $946,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in BAM. Wealth Enhancement Advisory Services LLC increased its position in shares of Brookfield Asset Management by 2.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 43,002 shares of the financial services provider’s stock worth $2,083,000 after acquiring an additional 854 shares in the last quarter. SOL Capital Management CO increased its position in shares of Brookfield Asset Management by 62.5% in the first quarter. SOL Capital Management CO now owns 51,372 shares of the financial services provider’s stock worth $2,489,000 after acquiring an additional 19,756 shares in the last quarter. Gold Investment Management Ltd. increased its position in shares of Brookfield Asset Management by 9.8% in the first quarter. Gold Investment Management Ltd. now owns 45,979 shares of the financial services provider’s stock worth $2,227,000 after acquiring an additional 4,090 shares in the last quarter. Smith Salley Wealth Management increased its position in shares of Brookfield Asset Management by 0.5% in the first quarter. Smith Salley Wealth Management now owns 112,292 shares of the financial services provider’s stock worth $5,441,000 after acquiring an additional 574 shares in the last quarter. Finally, Rossby Financial LCC purchased a new position in shares of Brookfield Asset Management in the first quarter worth approximately $28,000. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

NYSE BAM opened at $53.99 on Thursday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $88.42 billion, a PE ratio of 36.23, a price-to-earnings-growth ratio of 2.04 and a beta of 1.39. The company has a 50 day moving average price of $58.22 and a two-hundred day moving average price of $56.63. Brookfield Asset Management Ltd. has a 12-month low of $41.78 and a 12-month high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. As a group, equities analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. BMO Capital Markets lifted their target price on shares of Brookfield Asset Management from $53.00 to $56.00 and gave the stock a “market perform” rating in a research report on Thursday, August 7th. National Bank Financial began coverage on shares of Brookfield Asset Management in a research report on Tuesday, July 29th. They set an “outperform” rating and a $71.00 price objective on the stock. Bank of America downgraded shares of Brookfield Asset Management from a “buy” rating to a “neutral” rating and set a $68.00 price objective on the stock. in a research report on Thursday, September 4th. National Bankshares set a $71.00 price objective on shares of Brookfield Asset Management and gave the company an “outperform” rating in a research report on Tuesday, July 29th. Finally, Morgan Stanley set a $62.00 price objective on shares of Brookfield Asset Management in a research report on Monday, October 13th. 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $64.27.

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.