Inspire Investing LLC Acquires Shares of 46,863 Brookfield Asset Management Ltd. $BAM

Inspire Investing LLC bought a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 46,863 shares of the financial services provider’s stock, valued at approximately $2,591,000.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Brookfield Asset Management by 1.8% in the first quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider’s stock valued at $832,833,000 after buying an additional 302,852 shares in the last quarter. DAVENPORT & Co LLC boosted its position in shares of Brookfield Asset Management by 12.2% during the second quarter. DAVENPORT & Co LLC now owns 3,556,812 shares of the financial services provider’s stock valued at $196,348,000 after buying an additional 385,937 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Brookfield Asset Management by 58.9% in the first quarter. The Manufacturers Life Insurance Company now owns 3,360,125 shares of the financial services provider’s stock worth $163,354,000 after purchasing an additional 1,246,011 shares during the last quarter. Douglass Winthrop Advisors LLC raised its stake in shares of Brookfield Asset Management by 0.5% in the first quarter. Douglass Winthrop Advisors LLC now owns 2,672,065 shares of the financial services provider’s stock valued at $129,342,000 after buying an additional 14,498 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Brookfield Asset Management by 107.4% in the first quarter. Goldman Sachs Group Inc. now owns 2,363,192 shares of the financial services provider’s stock valued at $114,497,000 after buying an additional 1,224,012 shares during the period. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Price Performance

NYSE BAM opened at $55.06 on Friday. Brookfield Asset Management Ltd. has a 1 year low of $41.78 and a 1 year high of $64.10. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market cap of $90.18 billion, a price-to-earnings ratio of 36.95, a PEG ratio of 2.17 and a beta of 1.39. The stock’s fifty day moving average price is $59.29 and its 200 day moving average price is $56.28.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%.The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.29 billion. As a group, equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were given a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, August 29th. Brookfield Asset Management’s payout ratio is 117.45%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BAM. Royal Bank Of Canada started coverage on Brookfield Asset Management in a research note on Wednesday, June 18th. They issued an “outperform” rating and a $72.00 target price on the stock. Piper Sandler decreased their target price on Brookfield Asset Management from $65.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, September 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Brookfield Asset Management in a research note on Wednesday. Jefferies Financial Group lifted their target price on Brookfield Asset Management from $55.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, August 13th. Finally, Bank of America cut Brookfield Asset Management from a “buy” rating to a “neutral” rating and set a $68.00 price target on the stock. in a report on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Brookfield Asset Management presently has an average 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.