TD Asset Management Inc Grows Stock Position in Brookfield Asset Management Ltd. $BAM

TD Asset Management Inc increased its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.6% in the second quarter, Holdings Channel.com reports. The firm owned 15,589,384 shares of the financial services provider’s stock after purchasing an additional 250,068 shares during the quarter. TD Asset Management Inc’s holdings in Brookfield Asset Management were worth $861,101,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of BAM. Cerity Partners LLC boosted its stake in shares of Brookfield Asset Management by 36.6% during the first quarter. Cerity Partners LLC now owns 29,482 shares of the financial services provider’s stock valued at $1,428,000 after purchasing an additional 7,901 shares during the period. Teacher Retirement System of Texas grew its stake in Brookfield Asset Management by 9.9% in the 1st quarter. Teacher Retirement System of Texas now owns 68,700 shares of the financial services provider’s stock worth $3,329,000 after acquiring an additional 6,200 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Brookfield Asset Management by 1.8% during the first quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider’s stock worth $832,833,000 after acquiring an additional 302,852 shares during the period. Jump Financial LLC purchased a new position in shares of Brookfield Asset Management during the first quarter worth approximately $629,000. Finally, Canada Pension Plan Investment Board raised its stake in shares of Brookfield Asset Management by 9.8% during the first quarter. Canada Pension Plan Investment Board now owns 1,096,412 shares of the financial services provider’s stock valued at $53,083,000 after acquiring an additional 97,445 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

BAM has been the topic of a number of recent research reports. National Bank Financial initiated coverage on Brookfield Asset Management in a research report on Tuesday, July 29th. They set an “outperform” rating and a $71.00 price target on the stock. TD Securities boosted their price objective on shares of Brookfield Asset Management from $66.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $58.00 price target on shares of Brookfield Asset Management in a report on Thursday, August 7th. National Bankshares set a $71.00 price objective on Brookfield Asset Management and gave the company an “outperform” rating in a research report on Tuesday, July 29th. Finally, CIBC lifted their target price on Brookfield Asset Management from $70.00 to $71.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $64.02.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock opened at $56.96 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. Brookfield Asset Management Ltd. has a 52 week low of $41.78 and a 52 week high of $64.10. The firm has a market capitalization of $93.29 billion, a P/E ratio of 38.23, a PEG ratio of 2.03 and a beta of 1.39. The company has a 50 day moving average price of $59.20 and a 200 day moving average price of $56.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%.The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were given a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Friday, August 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 117.45%.

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.