Compass Ion Advisors LLC Invests $251,000 in Brookfield Asset Management Ltd. (NYSE:BAM)

Compass Ion Advisors LLC acquired a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,304 shares of the financial services provider’s stock, valued at approximately $251,000.

Other institutional investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its stake in Brookfield Asset Management by 68.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock valued at $260,770,000 after purchasing an additional 2,788,611 shares during the last quarter. Mackenzie Financial Corp boosted its position in Brookfield Asset Management by 19.5% in the second quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock valued at $514,867,000 after buying an additional 2,205,040 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in Brookfield Asset Management in the 2nd quarter worth approximately $42,160,000. TD Asset Management Inc raised its position in Brookfield Asset Management by 8.5% during 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 buying an additional 1,066,015 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Brookfield Asset Management by 49.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,779,015 shares of the financial services provider’s stock valued at $74,802,000 after acquiring an additional 591,130 shares during the period. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. reduced their price objective on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. TD Securities upped their target price on Brookfield Asset Management from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Jefferies Financial Group started coverage on Brookfield Asset Management in a research report on Friday, August 2nd. They set a “hold” rating and a $43.00 price target for the company. Finally, Scotiabank decreased their price target on Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating for the company in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $46.41.

Brookfield Asset Management Price Performance

Shares of BAM stock opened at $51.55 on Monday. Brookfield Asset Management Ltd. has a 1-year low of $28.35 and a 1-year high of $51.66. The company has a market cap of $22.88 billion, a price-to-earnings ratio of 47.73, a PEG ratio of 2.26 and a beta of 1.56. The stock has a 50 day simple moving average of $44.53 and a 200-day simple moving average of $41.35.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. The company had revenue of $916.00 million during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the business earned $0.28 EPS. Analysts anticipate that Brookfield Asset Management Ltd. will post 1.43 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid a dividend of $0.38 per share. The ex-dividend date was Friday, August 30th. This represents a $1.52 annualized dividend and a yield of 2.95%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 140.74%.

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.