Brookfield Asset Management Ltd. (NYSE:BAM) Stake Boosted by State of Wyoming

State of Wyoming increased its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 77.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,536 shares of the financial services provider’s stock after purchasing an additional 2,861 shares during the quarter. State of Wyoming’s holdings in Brookfield Asset Management were worth $354,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Truvestments Capital LLC boosted its position in Brookfield Asset Management by 487.2% during the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 419 shares during the period. Mountain Hill Investment Partners Corp. acquired a new stake in Brookfield Asset Management during the 4th quarter worth about $32,000. NewEdge Advisors LLC boosted its position in Brookfield Asset Management by 61.0% during the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 325 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in Brookfield Asset Management during the 4th quarter worth about $54,000. Finally, Redwood Park Advisors LLC acquired a new stake in Brookfield Asset Management during the 4th quarter worth about $64,000. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

BAM opened at $57.36 on Thursday. The business has a 50 day moving average price of $51.33 and a 200 day moving average price of $54.35. Brookfield Asset Management Ltd. has a twelve month low of $37.29 and a twelve month high of $62.61. The firm has a market cap of $92.49 billion, a P/E ratio of 43.45, a price-to-earnings-growth ratio of 1.92 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.40. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. As a group, analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be issued a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Friday, May 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 124.11%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BAM. Morgan Stanley raised their price objective on Brookfield Asset Management from $50.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Friday, May 16th. Scotiabank raised their price objective on Brookfield Asset Management from $58.00 to $59.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. HSBC upgraded Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Jefferies Financial Group reduced their price target on Brookfield Asset Management from $52.00 to $46.00 and set a “hold” rating for the company in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. lifted their price target on Brookfield Asset Management from $51.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Brookfield Asset Management currently has an average rating of “Moderate Buy” and a consensus price target of $59.08.

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.