Brookfield Asset Management Ltd. (NYSE:BAM) Position Raised by Focus Financial Network Inc.

Focus Financial Network Inc. raised its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 4,442 shares of the financial services provider’s stock after buying an additional 218 shares during the quarter. Focus Financial Network Inc.’s holdings in Brookfield Asset Management were worth $215,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. ST Germain D J Co. Inc. bought a new stake in Brookfield Asset Management in the first quarter valued at $26,000. Truvestments Capital LLC raised its stake in shares of Brookfield Asset Management by 487.2% during the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 419 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new stake in shares of Brookfield Asset Management during the fourth quarter valued at about $32,000. NewEdge Advisors LLC raised its stake in shares of Brookfield Asset Management by 61.0% during the fourth quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 325 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Brookfield Asset Management during the fourth quarter valued at about $54,000. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Stock Performance

Shares of NYSE BAM opened at $54.60 on Friday. The stock has a market cap of $88.04 billion, a price-to-earnings ratio of 41.36, a PEG ratio of 1.92 and a beta of 1.51. The business has a 50 day simple moving average of $53.99 and a 200 day simple moving average of $54.36. Brookfield Asset Management Ltd. has a 52 week low of $37.30 and a 52 week high of $62.61.

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

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.4375 per share. The ex-dividend date is Friday, May 30th. This represents a $1.75 annualized dividend and a yield of 3.21%. Brookfield Asset Management’s dividend payout ratio is currently 124.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BAM shares. Jefferies Financial Group cut their price objective on shares of Brookfield Asset Management from $52.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday, April 8th. TD Securities lifted their price objective on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Morgan Stanley lifted their price objective on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the company an “equal weight” rating in a research note on Friday, May 16th. Wall Street Zen upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Tuesday, April 15th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Brookfield Asset Management from $51.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $59.15.

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.