WASHINGTON TRUST Co Has $40,000 Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

WASHINGTON TRUST Co boosted its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 151.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,063 shares of the financial services provider’s stock after buying an additional 640 shares during the quarter. WASHINGTON TRUST Co’s holdings in Brookfield Asset Management were worth $40,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. YHB Investment Advisors Inc. acquired a new stake in shares of Brookfield Asset Management in the first quarter worth $26,000. Massmutual Trust Co. FSB ADV lifted its position in Brookfield Asset Management by 98.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 385 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of Brookfield Asset Management by 574.2% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 758 shares during the last quarter. Quent Capital LLC increased its stake in shares of Brookfield Asset Management by 62.4% in the first quarter. Quent Capital LLC now owns 1,132 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 435 shares during the period. Finally, Bfsg LLC acquired a new position in shares of Brookfield Asset Management during the 4th quarter worth about $51,000. 68.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BAM. TD Securities increased their price objective on Brookfield Asset Management from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. CIBC boosted their price target on Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. lowered their price target on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Jefferies Financial Group started coverage on Brookfield Asset Management in a research note on Friday, August 2nd. They set a “hold” rating and a $43.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Brookfield Asset Management from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Two 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 data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $42.46.

Brookfield Asset Management Stock Up 2.6 %

NYSE:BAM traded up $1.01 during trading hours on Tuesday, hitting $40.13. 725,454 shares of the stock were exchanged, compared to its average volume of 1,331,688. The company’s 50 day moving average is $39.59 and its two-hundred day moving average is $40.13. Brookfield Asset Management Ltd. has a twelve month low of $28.35 and a twelve month high of $44.38. The company has a market capitalization of $17.81 billion, a P/E ratio of 36.22, a price-to-earnings-growth ratio of 1.95 and a beta of 1.57.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Friday, August 9th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). The firm had revenue of $916.00 million for the quarter, compared to analyst estimates of $1.16 billion. Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. During the same period in the prior year, the company posted $0.28 EPS. 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 firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Asset Management’s payout ratio 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.