Forsta AP Fonden Raises Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Forsta AP Fonden increased its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 214,200 shares of the financial services provider’s stock after acquiring an additional 800 shares during the quarter. Forsta AP Fonden’s holdings in Brookfield Asset Management were worth $10,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Massmutual Trust Co. FSB ADV grew its holdings in shares of 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 purchasing an additional 385 shares during the last quarter. Continuum Advisory LLC boosted its position in Brookfield Asset Management by 57.6% during the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after buying an additional 285 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in Brookfield Asset Management by 574.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 758 shares during the last quarter. Richardson Financial Services Inc. increased its position in shares of Brookfield Asset Management by 368.3% in the second quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 755 shares during the period. Finally, WASHINGTON TRUST Co raised its stake in shares of 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 acquiring an additional 640 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. TD Securities raised 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. Bank of America boosted their target price on Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. dropped their price target 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. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Finally, CIBC upped their price objective on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $46.41.

Brookfield Asset Management Trading Down 0.1 %

Shares of BAM stock opened at $52.46 on Monday. The company’s fifty day moving average price is $45.63 and its 200-day moving average price is $41.71. The stock has a market cap of $23.28 billion, a PE ratio of 48.57, a price-to-earnings-growth ratio of 2.26 and a beta of 1.56. Brookfield Asset Management Ltd. has a 12 month low of $28.35 and a 12 month high of $53.02.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). The business had revenue of $916.00 million for the quarter, compared to the consensus estimate of $1.16 billion. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. During the same period in the previous year, the firm earned $0.28 EPS. On average, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.43 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.52 annualized dividend and a dividend yield of 2.90%. Brookfield Asset Management’s payout ratio is currently 140.74%.

About Brookfield Asset Management

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.