Brookfield Asset Management Ltd. (NYSE:BAM) Stock Position Increased by AGF Management Ltd.

AGF Management Ltd. lifted its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 48.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,015,919 shares of the financial services provider’s stock after buying an additional 329,573 shares during the period. AGF Management Ltd.’s holdings in Brookfield Asset Management were worth $38,749,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of BAM. Norges Bank bought a new stake in shares of Brookfield Asset Management in the 4th quarter worth $239,421,000. FIL Ltd raised its stake in shares of Brookfield Asset Management by 66.1% in the 4th quarter. FIL Ltd now owns 11,314,071 shares of the financial services provider’s stock worth $454,424,000 after buying an additional 4,501,410 shares in the last quarter. Beutel Goodman & Co Ltd. raised its stake in shares of Brookfield Asset Management by 114.5% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 6,922,224 shares of the financial services provider’s stock worth $279,387,000 after buying an additional 3,695,774 shares in the last quarter. TD Asset Management Inc raised its stake in shares of Brookfield Asset Management by 29.2% in the 4th quarter. TD Asset Management Inc now owns 11,498,183 shares of the financial services provider’s stock worth $464,078,000 after buying an additional 2,595,793 shares in the last quarter. Finally, Capital World Investors raised its stake in shares of Brookfield Asset Management by 10.0% in the 4th quarter. Capital World Investors now owns 24,562,364 shares of the financial services provider’s stock worth $986,656,000 after buying an additional 2,241,372 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 3.6 %

Shares of BAM stock opened at $44.27 on Thursday. The stock’s fifty day simple moving average is $40.87 and its 200-day simple moving average is $40.23. Brookfield Asset Management Ltd. has a 1-year low of $28.35 and a 1-year high of $44.38. The company has a market capitalization of $19.65 billion, a price-to-earnings ratio of 40.99, a P/E/G ratio of 2.09 and a beta of 1.57.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $916.00 million during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the firm earned $0.28 EPS. On average, sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.42 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a $0.38 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a yield of 3.43%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 140.74%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BAM shares. StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. BMO Capital Markets lifted their target price on Brookfield Asset Management from $37.00 to $40.00 and gave the stock a “market perform” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their target price on Brookfield Asset Management from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. TD Securities lifted their target price on Brookfield Asset Management from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. decreased their target price on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $42.79.

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.