12,899 Shares in Brookfield Asset Management Ltd. $BAM Acquired by St. Louis Trust Co

St. Louis Trust Co acquired a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 12,899 shares of the financial services provider’s stock, valued at approximately $676,000.

Other hedge funds have also recently made changes to their positions in the company. LOM Asset Management Ltd purchased a new position in shares of Brookfield Asset Management during the 4th quarter worth approximately $31,000. eCIO Inc. purchased a new position in shares of Brookfield Asset Management during the 4th quarter worth approximately $42,000. Assetmark Inc. boosted its position in shares of Brookfield Asset Management by 95.9% during the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 395 shares during the period. Cary Street Partners Financial LLC boosted its position in shares of Brookfield Asset Management by 227.5% during the 3rd quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 562 shares during the period. Finally, Cullen Frost Bankers Inc. boosted its position in shares of Brookfield Asset Management by 38.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 846 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 233 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Canadian Imperial Bank of Commerce set a $62.50 price objective on shares of Brookfield Asset Management in a research report on Monday, May 11th. Morgan Stanley lowered their price objective on shares of Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 21st. The Goldman Sachs Group lowered their price objective on shares of Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Zacks Research lowered shares of Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a report on Friday, March 20th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating on the stock in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $60.21.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock opened at $47.96 on Friday. The firm has a market cap of $78.56 billion, a PE ratio of 31.14, a price-to-earnings-growth ratio of 1.95 and a beta of 1.28. Brookfield Asset Management Ltd. has a 52-week low of $42.20 and a 52-week high of $64.10. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.34. The company’s 50 day moving average is $46.27 and its two-hundred day moving average is $49.70.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.43 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. On average, research analysts expect that Brookfield Asset Management Ltd. will post 1.74 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.5025 per share. The ex-dividend date is Friday, May 29th. This represents a $2.01 dividend on an annualized basis and a yield of 4.2%. Brookfield Asset Management’s dividend payout ratio is 130.52%.

Brookfield Asset Management Profile

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.