Laffer Tengler Investments Inc. Buys 20,826 Shares of Brookfield Asset Management Ltd. $BAM

Laffer Tengler Investments Inc. boosted its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 16.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 150,136 shares of the financial services provider’s stock after purchasing an additional 20,826 shares during the quarter. Brookfield Asset Management comprises 1.4% of Laffer Tengler Investments Inc.’s investment portfolio, making the stock its 23rd biggest position. Laffer Tengler Investments Inc.’s holdings in Brookfield Asset Management were worth $8,549,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. AQR Capital Management LLC acquired a new position in shares of Brookfield Asset Management in the 1st quarter valued at approximately $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Brookfield Asset Management by 10.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,050 shares of the financial services provider’s stock valued at $12,648,000 after acquiring an additional 24,013 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Brookfield Asset Management during the second quarter valued at approximately $207,000. Envestnet Asset Management Inc. lifted its stake in Brookfield Asset Management by 1.6% during the second quarter. Envestnet Asset Management Inc. now owns 430,081 shares of the financial services provider’s stock worth $23,774,000 after purchasing an additional 6,728 shares during the last quarter. Finally, Arkadios Wealth Advisors bought a new stake in Brookfield Asset Management during the second quarter worth $225,000. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BAM shares. JPMorgan Chase & Co. lifted their price target on Brookfield Asset Management from $68.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Loop Capital set a $60.00 target price on Brookfield Asset Management in a research report on Tuesday, January 6th. The Goldman Sachs Group lowered their target price on Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, January 6th. Scotiabank set a $64.00 target price on shares of Brookfield Asset Management and gave the stock an “outperform” rating in a report on Thursday, February 5th. Finally, Wall Street Zen raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Two investment analysts have rated the stock with a Strong Buy rating, seven 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, Brookfield Asset Management presently has an average rating of “Moderate Buy” and a consensus target price of $63.65.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $46.56 on Wednesday. The firm has a market capitalization of $76.26 billion, a price-to-earnings ratio of 30.63, a PEG ratio of 1.66 and a beta of 1.42. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.05. The business’s 50-day moving average price is $51.42 and its 200-day moving average price is $54.13. 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 issued its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.67%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.40 billion. Equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be issued a dividend of $0.5025 per share. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.3%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.44. The ex-dividend date is Friday, February 27th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 132.24%.

About Brookfield Asset Management

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.