Farmers & Merchants Investments Inc. Purchases New Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Farmers & Merchants Investments Inc. purchased a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,519 shares of the financial services provider’s stock, valued at approximately $96,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in BAM. Bank of Nova Scotia Trust Co. increased its holdings in Brookfield Asset Management by 4.4% during the first quarter. Bank of Nova Scotia Trust Co. now owns 6,202 shares of the financial services provider’s stock worth $261,000 after buying an additional 263 shares during the last quarter. CWM LLC increased its stake in shares of Brookfield Asset Management by 12.2% during the 2nd quarter. CWM LLC now owns 2,448 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 267 shares during the last quarter. NBC Securities Inc. raised its holdings in shares of Brookfield Asset Management by 4.7% in the 4th quarter. NBC Securities Inc. now owns 6,139 shares of the financial services provider’s stock valued at $246,000 after purchasing an additional 277 shares during the period. Choate Investment Advisors lifted its stake in Brookfield Asset Management by 3.3% in the 1st quarter. Choate Investment Advisors now owns 8,900 shares of the financial services provider’s stock valued at $374,000 after purchasing an additional 285 shares during the last quarter. Finally, Continuum Advisory LLC grew its holdings in Brookfield Asset Management by 57.6% during the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 285 shares during the period. Institutional investors own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on BAM shares. Jefferies Financial Group started coverage on Brookfield Asset Management in a research note on Friday, August 2nd. They issued a “hold” rating and a $43.00 price objective on the stock. Scotiabank dropped their price target on Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating on the stock in a research note on Thursday, August 8th. StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. TD Securities upped their price objective on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. cut their target price on shares of 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. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $42.46.

Brookfield Asset Management Stock Down 1.0 %

Shares of NYSE:BAM opened at $40.82 on Friday. Brookfield Asset Management Ltd. has a 12-month low of $28.35 and a 12-month high of $44.38. The company’s 50 day moving average price is $40.58 and its two-hundred day moving average price is $40.19. The firm has a market cap of $18.11 billion, a PE ratio of 37.80, a PEG ratio of 2.09 and a beta of 1.57.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued 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 for the quarter, compared to analyst estimates 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 prior year, the company earned $0.28 EPS. On average, research analysts expect that Brookfield Asset Management Ltd. will post 1.42 EPS for the current year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date is Friday, August 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 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.