111 Capital increased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM – Free Report) (TSE:BAM.A) by 387.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,022 shares of the financial services provider’s stock after purchasing an additional 25,458 shares during the quarter. 111 Capital’s holdings in Brookfield Asset Management were worth $1,774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently modified their holdings of the company. Rossby Financial LCC bought a new stake in shares of Brookfield Asset Management in the first quarter worth about $28,000. ST Germain D J Co. Inc. purchased a new stake in Brookfield Asset Management in the first quarter worth about $26,000. Truvestments Capital LLC lifted its holdings in Brookfield Asset Management by 85.5% in the first quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider’s stock worth $45,000 after buying an additional 432 shares during the period. DHJJ Financial Advisors Ltd. lifted its holdings in Brookfield Asset Management by 100,000.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 1,001 shares of the financial services provider’s stock worth $55,000 after buying an additional 1,000 shares during the period. Finally, Trust Co. of Vermont lifted its holdings in Brookfield Asset Management by 90.4% in the second quarter. Trust Co. of Vermont now owns 1,070 shares of the financial services provider’s stock worth $59,000 after buying an additional 508 shares during the period. 68.41% of the stock is owned by institutional investors.
Brookfield Asset Management Trading Up 1.8%
NYSE:BAM opened at $57.83 on Friday. The company’s 50 day moving average price is $59.72 and its 200-day moving average price is $56.03. Brookfield Asset Management Ltd. has a 52 week low of $41.78 and a 52 week high of $64.10. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. The stock has a market cap of $94.70 billion, a price-to-earnings ratio of 38.81, a PEG ratio of 2.07 and a beta of 1.39.
Brookfield Asset Management Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were given a $0.4375 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.75 annualized dividend and a yield of 3.0%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 117.45%.
Wall Street Analysts Forecast Growth
Several analysts have commented on BAM shares. TD Securities raised their price objective on shares of Brookfield Asset Management from $66.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Wells Fargo & Company raised their price objective on shares of Brookfield Asset Management from $55.00 to $57.00 and gave the stock an “underweight” rating in a report on Friday, July 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $58.00 price objective on shares of Brookfield Asset Management in a report on Thursday, August 7th. CIBC raised their target price on shares of Brookfield Asset Management from $70.00 to $71.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Finally, Royal Bank Of Canada began coverage on shares of Brookfield Asset Management in a research note on Wednesday, June 18th. They set an “outperform” rating and a $72.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.52.
View Our Latest Stock Report on BAM
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.
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