GoalVest Advisory LLC Makes New Investment in Brookfield Asset Management Ltd. (NYSE:BAM)

GoalVest Advisory LLC purchased a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,380 shares of the financial services provider’s stock, valued at approximately $100,000.

A number of other large investors have also recently modified their holdings of the business. NBC Securities Inc. boosted its position in shares of Brookfield Asset Management by 4.7% during the 4th quarter. NBC Securities Inc. now owns 6,139 shares of the financial services provider’s stock valued at $246,000 after acquiring an additional 277 shares during the last quarter. Jackson Hole Capital Partners LLC boosted its position in shares of Brookfield Asset Management by 3.1% during the 4th quarter. Jackson Hole Capital Partners LLC now owns 9,770 shares of the financial services provider’s stock valued at $392,000 after acquiring an additional 291 shares during the last quarter. Procyon Advisors LLC boosted its position in shares of Brookfield Asset Management by 5.9% during the 4th quarter. Procyon Advisors LLC now owns 8,291 shares of the financial services provider’s stock valued at $333,000 after acquiring an additional 461 shares during the last quarter. Citigroup Inc. boosted its position in shares of Brookfield Asset Management by 3.6% during the 3rd quarter. Citigroup Inc. now owns 22,626 shares of the financial services provider’s stock valued at $757,000 after acquiring an additional 788 shares during the last quarter. Finally, Metis Global Partners LLC boosted its position in shares of Brookfield Asset Management by 7.1% during the 4th quarter. Metis Global Partners LLC now owns 12,201 shares of the financial services provider’s stock valued at $490,000 after acquiring an additional 813 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

BAM opened at $38.19 on Friday. Brookfield Asset Management Ltd. has a 52-week low of $28.35 and a 52-week high of $43.00. The stock has a market capitalization of $16.90 billion, a PE ratio of 35.36, a price-to-earnings-growth ratio of 1.73 and a beta of 1.67. The stock’s 50 day moving average price is $39.06 and its 200-day moving average price is $39.79.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. The firm had revenue of $884.00 million for the quarter. Research analysts forecast that Brookfield Asset Management Ltd. will post 1.47 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.52 annualized dividend and a dividend yield of 3.98%. Brookfield Asset Management’s dividend payout ratio is presently 140.74%.

Analysts Set New Price Targets

BAM has been the subject of a number of research analyst reports. Scotiabank dropped their price target on Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating for the company in a research report on Thursday, May 9th. JPMorgan Chase & Co. initiated coverage on Brookfield Asset Management in a research report on Wednesday, May 15th. They issued a “neutral” rating and a $41.00 target price for the company. Finally, Royal Bank of Canada boosted their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.14.

Brookfield Asset Management 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.