1832 Asset Management L.P. Buys 357,523 Shares of Brookfield Asset Management Ltd. $BAM

1832 Asset Management L.P. grew its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 36.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,339,484 shares of the financial services provider’s stock after acquiring an additional 357,523 shares during the period. 1832 Asset Management L.P.’s holdings in Brookfield Asset Management were worth $74,047,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd increased its stake in shares of Brookfield Asset Management by 1,270.6% during the second quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 432 shares during the period. Manchester Capital Management LLC grew its holdings in Brookfield Asset Management by 559.5% in the 2nd quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock valued at $29,000 after buying an additional 442 shares in the last quarter. Truvestments Capital LLC increased its position in Brookfield Asset Management by 85.5% during the 1st quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider’s stock worth $45,000 after buying an additional 432 shares during the period. First Horizon Advisors Inc. lifted its holdings in shares of Brookfield Asset Management by 127.7% during the second quarter. First Horizon Advisors Inc. now owns 995 shares of the financial services provider’s stock worth $55,000 after buying an additional 558 shares in the last quarter. Finally, DHJJ Financial Advisors Ltd. lifted its holdings in shares of Brookfield Asset Management by 100,000.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 1,001 shares of the financial services provider’s stock worth $55,000 after buying an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock opened at $53.11 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.05. The company has a market cap of $86.99 billion, a PE ratio of 33.20, a price-to-earnings-growth ratio of 1.92 and a beta of 1.39. The company has a 50 day moving average of $54.23 and a 200-day moving average of $56.92. Brookfield Asset Management Ltd. has a 1-year low of $41.78 and a 1-year high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Friday, November 7th. The financial services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. Brookfield Asset Management had a net margin of 58.25% and a return on equity of 33.77%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.34 billion. As a group, equities research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be given a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, November 28th. Brookfield Asset Management’s dividend payout ratio is currently 109.38%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Wall Street Zen lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Weiss Ratings restated a “buy (b-)” rating on shares of Brookfield Asset Management in a research report on Monday, November 24th. CIBC lifted their price target on shares of Brookfield Asset Management from $70.00 to $71.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Bank of America cut Brookfield Asset Management from a “buy” rating to a “neutral” rating and set a $68.00 price target for the company. in a research note on Thursday, September 4th. Finally, Scotiabank lowered their price objective on Brookfield Asset Management from $67.25 to $65.75 and set a “sector outperform” rating on the stock in a research note on Monday, November 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $64.32.

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.