Blair William & Co. IL raised its position in Brookfield Asset Management Ltd. (NYSE:BAM – Free Report) (TSE:BAM.A) by 2.7% during the first quarter, HoldingsChannel reports. The firm owned 31,934 shares of the financial services provider’s stock after purchasing an additional 844 shares during the period. Blair William & Co. IL’s holdings in Brookfield Asset Management were worth $1,045,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BAM. American Century Companies Inc. lifted its holdings in Brookfield Asset Management by 0.7% in the 1st quarter. American Century Companies Inc. now owns 38,228 shares of the financial services provider’s stock valued at $2,161,000 after purchasing an additional 268 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Brookfield Asset Management by 3.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 537,451 shares of the financial services provider’s stock worth $30,404,000 after acquiring an additional 20,309 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of Brookfield Asset Management during the 1st quarter worth $22,369,000. Sequoia Financial Advisors LLC purchased a new position in shares of Brookfield Asset Management during the 1st quarter worth $340,000. Finally, Vanguard Group Inc. raised its holdings in shares of Brookfield Asset Management by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 44,050,716 shares of the financial services provider’s stock worth $2,491,950,000 after acquiring an additional 1,220,298 shares during the period. Hedge funds and other institutional investors own 61.92% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have recently commented on BAM shares. TD Securities lifted their price target on Brookfield Asset Management from $47.00 to $48.00 and gave the stock an “action list buy” rating in a report on Thursday, August 10th. Deutsche Bank Aktiengesellschaft lifted their price target on Brookfield Asset Management from $34.00 to $35.00 in a report on Thursday, August 10th. Bank of America assumed coverage on shares of Brookfield Asset Management in a report on Thursday. They issued a “neutral” rating and a $40.00 price objective on the stock. StockNews.com assumed coverage on shares of Brookfield Asset Management in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, BMO Capital Markets boosted their price objective on shares of Brookfield Asset Management from $33.00 to $34.00 and gave the company a “market perform” rating in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.13.
Brookfield Asset Management Price Performance
NYSE BAM opened at $34.41 on Friday. The company has a market cap of $14.20 billion and a P/E ratio of 21.64. The stock has a 50-day moving average of $33.42 and a two-hundred day moving average of $32.68. Brookfield Asset Management Ltd. has a 1-year low of $26.76 and a 1-year high of $36.50.
Brookfield Asset Management (NYSE:BAM – Get Free Report) (TSE:BAM.A) last released its earnings results on Wednesday, August 9th. The financial services provider reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $985.00 million during the quarter. On average, analysts anticipate that Brookfield Asset Management Ltd. will post 1.32 EPS for the current fiscal year.
Brookfield Asset Management Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 3.72%. The ex-dividend date is Wednesday, August 30th. Brookfield Asset Management’s dividend payout ratio is currently 80.50%.
Brookfield Asset Management Company Profile
Brookfield Asset Management Ltd. provides alternative asset management services. Its renewable power and transition business includes the ownership, operation, and development of hydroelectric, wind, solar, and energy transition power generating assets. The company's infrastructure business engages in the ownership, operation, and development of utilities, transport, midstream, data and sustainable resource assets.
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