Ascent Group LLC Increases Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Ascent Group LLC raised its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 75.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,655 shares of the financial services provider’s stock after buying an additional 4,590 shares during the period. Ascent Group LLC’s holdings in Brookfield Asset Management were worth $405,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of BAM. Bank of Nova Scotia Trust Co. lifted its stake in Brookfield Asset Management by 4.4% in the first quarter. Bank of Nova Scotia Trust Co. now owns 6,202 shares of the financial services provider’s stock worth $261,000 after acquiring an additional 263 shares during the period. CWM LLC lifted its holdings in shares of Brookfield Asset Management by 12.2% in the 2nd quarter. CWM LLC now owns 2,448 shares of the financial services provider’s stock valued at $93,000 after buying an additional 267 shares during the period. Choate Investment Advisors lifted its holdings in Brookfield Asset Management by 3.3% in the first quarter. Choate Investment Advisors now owns 8,900 shares of the financial services provider’s stock valued at $374,000 after acquiring an additional 285 shares during the period. Continuum Advisory LLC increased its holdings in Brookfield Asset Management by 57.6% in the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after buying an additional 285 shares in the last quarter. Finally, Adalta Capital Management LLC raised its position in Brookfield Asset Management by 0.8% during the first quarter. Adalta Capital Management LLC now owns 43,494 shares of the financial services provider’s stock worth $1,828,000 after acquiring an additional 366 shares during the period. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Stock Performance

Shares of NYSE BAM opened at $47.57 on Wednesday. Brookfield Asset Management Ltd. has a 52 week low of $28.35 and a 52 week high of $48.03. The business’s 50-day simple moving average is $42.57 and its 200-day simple moving average is $40.71. The firm has a market cap of $21.11 billion, a price-to-earnings ratio of 44.05, a P/E/G ratio of 2.36 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The company had revenue of $916.00 million during the quarter, compared to the consensus estimate of $1.16 billion. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. During the same period last year, the company earned $0.28 earnings per share. As a group, equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.42 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were paid a $0.38 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.20%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 140.74%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BAM shares. BMO Capital Markets boosted their price objective on Brookfield Asset Management from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 11th. Bank of America boosted their price target on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. TD Securities lifted their target price on Brookfield Asset Management from $49.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. CIBC lifted their price objective on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research report on Friday, July 19th. Finally, Jefferies Financial Group began coverage on Brookfield Asset Management in a research note on Friday, August 2nd. They set a “hold” rating and a $43.00 target price for the company. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Brookfield Asset Management currently has a consensus rating of “Hold” and an average target price of $44.19.

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.