Jupiter Asset Management Ltd. Takes Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Jupiter Asset Management Ltd. purchased a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the 2nd quarter, Holdings Channel reports. The fund purchased 73,036 shares of the financial services provider’s stock, valued at approximately $2,780,000.

A number of other institutional investors also recently bought and sold shares of BAM. Partners Value Investments L.P. raised its stake in shares of Brookfield Asset Management by 0.9% in the fourth quarter. Partners Value Investments L.P. now owns 30,807,960 shares of the financial services provider’s stock valued at $1,237,556,000 after acquiring an additional 280,098 shares during the period. Capital World Investors grew its holdings in Brookfield Asset Management by 10.0% during the 4th quarter. Capital World Investors now owns 24,562,364 shares of the financial services provider’s stock valued at $986,656,000 after purchasing an additional 2,241,372 shares during the last quarter. TD Asset Management Inc raised its position in Brookfield Asset Management by 8.5% in the 2nd quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock worth $515,823,000 after purchasing an additional 1,066,015 shares during the period. FIL Ltd lifted its stake in Brookfield Asset Management by 66.1% in the fourth quarter. FIL Ltd now owns 11,314,071 shares of the financial services provider’s stock worth $454,424,000 after purchasing an additional 4,501,410 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Brookfield Asset Management by 1.8% during the first quarter. Vanguard Group Inc. now owns 10,760,414 shares of the financial services provider’s stock valued at $452,153,000 after buying an additional 186,765 shares during the period. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Stock Up 0.3 %

Shares of BAM stock opened at $44.85 on Friday. The company’s 50 day moving average is $41.11 and its 200 day moving average is $40.29. The firm has a market cap of $19.91 billion, a price-to-earnings ratio of 41.53, a PEG ratio of 2.26 and a beta of 1.56. Brookfield Asset Management Ltd. has a 52-week low of $28.35 and a 52-week high of $45.24.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The company had revenue of $916.00 million during the quarter, compared to analysts’ expectations 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 in the prior year, the business posted $0.28 earnings per share. Analysts anticipate that Brookfield Asset Management Ltd. will post 1.42 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, September 27th. Shareholders of record on Friday, August 30th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Friday, August 30th. Brookfield Asset Management’s payout ratio is 140.74%.

Analyst Ratings Changes

Several brokerages have recently weighed in on BAM. TD Securities increased their price target on Brookfield Asset Management from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Bank of America lifted their target price on Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday. BMO Capital Markets upped their price target on shares of Brookfield Asset Management from $37.00 to $40.00 and gave the stock a “market perform” rating in a report on Wednesday. JPMorgan Chase & Co. decreased their price objective on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Finally, StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Three investment 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $43.81.

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.