eCIO Inc. Takes $64,000 Position in Brookfield Asset Management Ltd. $BAM

eCIO Inc. purchased a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 1,329 shares of the financial services provider’s stock, valued at approximately $64,000.

Other hedge funds have also recently modified their holdings of the company. Integrity Alliance LLC. purchased a new stake in Brookfield Asset Management during the 1st quarter valued at $281,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Brookfield Asset Management by 10.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,050 shares of the financial services provider’s stock worth $12,648,000 after buying an additional 24,013 shares during the last quarter. Ascent Group LLC grew its position in Brookfield Asset Management by 31.4% during the first quarter. Ascent Group LLC now owns 14,220 shares of the financial services provider’s stock valued at $689,000 after buying an additional 3,402 shares during the period. United Services Automobile Association increased its holdings in Brookfield Asset Management by 3.6% during the first quarter. United Services Automobile Association now owns 12,824 shares of the financial services provider’s stock valued at $623,000 after buying an additional 445 shares during the last quarter. Finally, CTC Alternative Strategies Ltd. bought a new position in Brookfield Asset Management in the first quarter worth approximately $329,000. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM opened at $56.76 on Friday. The firm has a fifty day simple moving average of $59.84 and a two-hundred day simple moving average of $55.22. Brookfield Asset Management Ltd. has a 52 week low of $41.78 and a 52 week high of $64.10. 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 stock has a market capitalization of $92.96 billion, a P/E ratio of 38.10, a PEG ratio of 2.03 and a beta of 1.44.

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 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.29 billion. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. On average, analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, August 29th. Brookfield Asset Management’s dividend payout ratio is presently 117.45%.

Analyst Upgrades and Downgrades

A number of analysts have commented on BAM shares. Jefferies Financial Group upped their price target on Brookfield Asset Management from $55.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, August 13th. Scotiabank upped their target price on shares of Brookfield Asset Management from $66.00 to $67.25 and gave the stock a “sector outperform” rating in a report on Thursday, August 7th. National Bankshares set a $71.00 price target on Brookfield Asset Management and gave the stock an “outperform” rating in a report on Tuesday, July 29th. Wells Fargo & Company upped their price target on Brookfield Asset Management from $55.00 to $57.00 and gave the stock an “underweight” rating in a research note on Friday, July 11th. Finally, BMO Capital Markets increased their price objective on shares of Brookfield Asset Management from $53.00 to $56.00 and gave the company a “market perform” rating in a report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $63.52.

About Brookfield Asset Management

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.