Denali Advisors LLC Acquires Shares of 6,134 Brookfield Asset Management Ltd. $BAM

Denali Advisors LLC acquired a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,134 shares of the financial services provider’s stock, valued at approximately $339,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BAM. Wealth Enhancement Advisory Services LLC lifted its holdings in Brookfield Asset Management by 2.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 43,002 shares of the financial services provider’s stock valued at $2,083,000 after purchasing an additional 854 shares in the last quarter. SOL Capital Management CO lifted its holdings in Brookfield Asset Management by 62.5% in the 1st quarter. SOL Capital Management CO now owns 51,372 shares of the financial services provider’s stock valued at $2,489,000 after purchasing an additional 19,756 shares in the last quarter. Gold Investment Management Ltd. lifted its holdings in Brookfield Asset Management by 9.8% in the 1st quarter. Gold Investment Management Ltd. now owns 45,979 shares of the financial services provider’s stock valued at $2,227,000 after purchasing an additional 4,090 shares in the last quarter. Smith Salley Wealth Management lifted its holdings in Brookfield Asset Management by 0.5% in the 1st quarter. Smith Salley Wealth Management now owns 112,292 shares of the financial services provider’s stock valued at $5,441,000 after purchasing an additional 574 shares in the last quarter. Finally, Rossby Financial LCC purchased a new position in Brookfield Asset Management in the 1st quarter valued at $28,000. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BAM shares. National Bankshares set a $71.00 price target on Brookfield Asset Management and gave the stock an “outperform” rating in a report on Tuesday, July 29th. Scotiabank lifted their price target on Brookfield Asset Management from $66.00 to $67.25 and gave the stock a “sector outperform” rating in a report on Thursday, August 7th. Wells Fargo & Company lifted their price target on 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 reiterated a “hold” rating and set a $58.00 price target on shares of Brookfield Asset Management in a report on Thursday, August 7th. Finally, Royal Bank Of Canada lifted their price target on Brookfield Asset Management from $74.00 to $76.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Two research 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 issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $64.27.

Brookfield Asset Management Stock Down 0.4%

Shares of NYSE:BAM opened at $53.75 on Friday. The business has a 50-day moving average price of $58.05 and a 200 day moving average price of $56.71. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $88.03 billion, a price-to-earnings ratio of 36.07, a PEG ratio of 2.02 and a beta of 1.39. Brookfield Asset Management Ltd. has a 12-month low of $41.78 and a 12-month high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%. Sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, August 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 117.45%.

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.