Public Employees Retirement System of Ohio Acquires New Position in Brookfield Asset Management Ltd. $BAM

Public Employees Retirement System of Ohio acquired a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 183,593 shares of the financial services provider’s stock, valued at approximately $8,235,000.

Other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC bought a new stake in shares of Brookfield Asset Management during the 1st quarter valued at $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Brookfield Asset Management by 10.1% in the 1st 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 worth $12,648,000 after purchasing an additional 24,013 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Brookfield Asset Management by 24.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,512 shares of the financial services provider’s stock worth $139,000 after purchasing an additional 497 shares during the period. Cerity Partners LLC grew its stake in shares of Brookfield Asset Management by 17.6% during the second quarter. Cerity Partners LLC now owns 34,666 shares of the financial services provider’s stock worth $1,916,000 after purchasing an additional 5,184 shares during the period. Finally, State Street Corp increased its holdings in Brookfield Asset Management by 11,172.2% in the second quarter. State Street Corp now owns 3,524,700 shares of the financial services provider’s stock valued at $194,845,000 after purchasing an additional 3,493,431 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BAM. Royal Bank Of Canada decreased their price objective on shares of Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating for the company in a report on Monday, May 11th. National Bank Financial increased their target price on shares of Brookfield Asset Management from $69.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. UBS Group lifted their price target on shares of Brookfield Asset Management from $48.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. lowered their price objective on shares of Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Brookfield Asset Management in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Brookfield Asset Management has a consensus rating of “Hold” and a consensus target price of $59.32.

Brookfield Asset Management Stock Down 1.2%

NYSE:BAM opened at $51.50 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market cap of $84.37 billion, a PE ratio of 29.94, a PEG ratio of 2.13 and a beta of 1.26. Brookfield Asset Management Ltd. has a 52-week low of $42.20 and a 52-week high of $62.57. The stock has a 50-day simple moving average of $49.18 and a 200 day simple moving average of $47.85.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Brookfield Asset Management had a return on equity of 31.50% and a net margin of 48.89%.The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.47 billion. On average, sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.78 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a dividend of $0.5025 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $2.01 annualized dividend and a yield of 3.9%. Brookfield Asset Management’s payout ratio is 116.86%.

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.