Ascent Group LLC Acquires Shares of 6,065 Brookfield Asset Management Ltd. (NYSE:BAM)

Ascent Group LLC bought a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,065 shares of the financial services provider’s stock, valued at approximately $255,000.

A number of other institutional investors also recently made changes to their positions in the business. Partners Value Investments L.P. increased its position in shares of Brookfield Asset Management by 0.9% in the 4th quarter. Partners Value Investments L.P. now owns 30,807,960 shares of the financial services provider’s stock worth $1,237,556,000 after purchasing an additional 280,098 shares during the last quarter. Capital World Investors increased its holdings in Brookfield Asset Management by 10.0% in the fourth quarter. Capital World Investors now owns 24,562,364 shares of the financial services provider’s stock valued at $986,656,000 after buying an additional 2,241,372 shares during the last quarter. TD Asset Management Inc increased its holdings in Brookfield Asset Management by 8.6% in the first quarter. TD Asset Management Inc now owns 12,486,721 shares of the financial services provider’s stock valued at $525,028,000 after buying an additional 988,538 shares during the last quarter. FIL Ltd raised its stake in Brookfield Asset Management by 66.1% during the fourth quarter. FIL Ltd now owns 11,314,071 shares of the financial services provider’s stock valued at $454,424,000 after buying an additional 4,501,410 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Brookfield Asset Management by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 10,760,414 shares of the financial services provider’s stock worth $452,153,000 after buying an additional 186,765 shares during the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BAM. Royal Bank of Canada upped their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. CIBC raised their price target 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. StockNews.com lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. began coverage on shares of Brookfield Asset Management in a research note on Wednesday, May 15th. They set a “neutral” rating and a $41.00 price objective on the stock. Finally, Scotiabank decreased their target price on Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating for the company in a research note on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.32.

Brookfield Asset Management Price Performance

Shares of BAM traded up $0.11 during trading hours on Monday, reaching $42.21. 666,085 shares of the company’s stock traded hands, compared to its average volume of 1,344,264. Brookfield Asset Management Ltd. has a twelve month low of $28.35 and a twelve month high of $43.00. The business’s fifty day simple moving average is $39.40 and its two-hundred day simple moving average is $40.01. The firm has a market capitalization of $18.73 billion, a price-to-earnings ratio of 39.08, a P/E/G ratio of 1.96 and a beta of 1.63.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Wednesday, May 8th. The financial services provider reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. The firm had revenue of $884.00 million for the quarter. Brookfield Asset Management had a net margin of 49.36% and a return on equity of 98.98%. On average, equities research analysts expect that Brookfield Asset Management Ltd. will post 1.47 EPS for the current year.

Brookfield Asset Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.52 dividend on an annualized basis and a yield of 3.60%. Brookfield Asset Management’s dividend payout ratio (DPR) is 140.74%.

Brookfield Asset Management 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.