Sequoia Financial Advisors LLC Buys 1,114 Shares of Brookfield Asset Management Ltd. $BAM

Sequoia Financial Advisors LLC grew its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 290,496 shares of the financial services provider’s stock after purchasing an additional 1,114 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Brookfield Asset Management were worth $16,059,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of BAM. Rossby Financial LCC bought a new position in shares of Brookfield Asset Management in the 1st quarter worth about $28,000. Truvestments Capital LLC increased its stake in shares of Brookfield Asset Management by 85.5% in the 1st quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 432 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of Brookfield Asset Management by 1,079.6% in the 1st quarter. Larson Financial Group LLC now owns 1,097 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 1,004 shares in the last quarter. DHJJ Financial Advisors Ltd. increased its stake in shares of Brookfield Asset Management by 100,000.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 1,001 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Trust Co. of Vermont increased its stake in shares of Brookfield Asset Management by 90.4% in the 2nd quarter. Trust Co. of Vermont now owns 1,070 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 508 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Stock Performance

Shares of NYSE BAM opened at $56.96 on Tuesday. The firm’s 50-day moving average price is $59.20 and its 200-day moving average price is $56.42. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. The company has a market cap of $93.29 billion, a PE ratio of 38.23, a PEG ratio of 2.03 and a beta of 1.39. Brookfield Asset Management Ltd. has a 52-week low of $41.78 and a 52-week high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly 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). The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. As a group, analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BAM. BMO Capital Markets increased their price target on shares of Brookfield Asset Management from $53.00 to $56.00 and gave the stock a “market perform” rating in a research note on Thursday, August 7th. Royal Bank Of Canada started coverage on shares of Brookfield Asset Management in a research report on Wednesday, June 18th. They set an “outperform” rating and a $72.00 price objective on the stock. Morgan Stanley set a $62.00 price objective on shares of Brookfield Asset Management in a research report on Monday. CIBC increased their price objective on shares of Brookfield Asset Management from $70.00 to $71.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Finally, National Bank Financial started coverage on shares of Brookfield Asset Management in a research report on Tuesday, July 29th. They set an “outperform” rating and a $71.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Brookfield Asset Management has a consensus rating of “Moderate Buy” and an average price target of $64.02.

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.