Forsta AP Fonden Grows Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Forsta AP Fonden grew its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 214,200 shares of the financial services provider’s stock after buying an additional 800 shares during the period. Forsta AP Fonden’s holdings in Brookfield Asset Management were worth $10,138,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV lifted its holdings in Brookfield Asset Management by 98.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 385 shares during the last quarter. Continuum Advisory LLC lifted its stake in shares of Brookfield Asset Management by 57.6% during the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after buying an additional 285 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Brookfield Asset Management by 574.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after buying an additional 758 shares during the period. Richardson Financial Services Inc. grew its stake in Brookfield Asset Management by 368.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock valued at $37,000 after buying an additional 755 shares in the last quarter. Finally, WASHINGTON TRUST Co raised its holdings in Brookfield Asset Management by 151.3% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 640 shares during the period. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Down 0.1 %

BAM opened at $52.46 on Monday. The business’s fifty day simple moving average is $45.63 and its 200 day simple moving average is $41.71. Brookfield Asset Management Ltd. has a 52 week low of $28.35 and a 52 week high of $53.02. The stock has a market cap of $23.28 billion, a PE ratio of 48.57, a P/E/G ratio of 2.26 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). The firm had revenue of $916.00 million for the quarter, compared to the consensus estimate of $1.16 billion. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. During the same quarter last year, the company posted $0.28 earnings per share. As a group, equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.43 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were issued a $0.38 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.90%. Brookfield Asset Management’s payout ratio is 140.74%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. CIBC increased their price objective on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a report on Friday, July 19th. Bank of America boosted their price objective on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Jefferies Financial Group began coverage on shares of Brookfield Asset Management in a research note on Friday, August 2nd. They issued a “hold” rating and a $43.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Brookfield Asset Management from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $46.41.

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.