Acadian Asset Management LLC Purchases 6,997 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Acadian Asset Management LLC increased its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5,033.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 7,136 shares of the financial services provider’s stock after purchasing an additional 6,997 shares during the period. Acadian Asset Management LLC’s holdings in Brookfield Asset Management were worth $270,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in BAM. YHB Investment Advisors Inc. purchased a new position in Brookfield Asset Management in the 1st quarter worth approximately $26,000. Massmutual Trust Co. FSB ADV grew its position in Brookfield Asset Management by 98.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 385 shares in the last quarter. Continuum Advisory LLC grew its position in Brookfield Asset Management by 57.6% in the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 285 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in Brookfield Asset Management by 574.2% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 758 shares during the last quarter. Finally, WASHINGTON TRUST Co raised its position in Brookfield Asset Management by 151.3% during the second quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 640 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on BAM. The Goldman Sachs Group boosted their price target on shares of Brookfield Asset Management from $41.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Jefferies Financial Group began coverage on Brookfield Asset Management in a research note on Friday, August 2nd. They issued a “hold” rating and a $43.00 target price for the company. CIBC raised their price target on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. decreased their price target on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, TD Securities increased their price objective on Brookfield Asset Management from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Brookfield Asset Management has an average rating of “Hold” and a consensus target price of $43.81.

Brookfield Asset Management Trading Up 4.4 %

Shares of BAM opened at $47.70 on Friday. The firm has a market cap of $21.17 billion, a PE ratio of 44.17, a P/E/G ratio of 2.26 and a beta of 1.56. Brookfield Asset Management Ltd. has a 1-year low of $28.35 and a 1-year high of $47.74. The firm has a fifty day simple moving average of $41.69 and a two-hundred day simple moving average of $40.43.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The firm had revenue of $916.00 million during the quarter, compared to the consensus estimate 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 period in the prior year, the company posted $0.28 EPS. As a group, research analysts forecast that Brookfield Asset Management Ltd. will post 1.42 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Friday, August 30th. Brookfield Asset Management’s payout ratio is 140.74%.

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.