Teacher Retirement System of Texas Boosts Holdings in Brookfield Asset Management Ltd. $BAM

Teacher Retirement System of Texas raised its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 242.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 235,000 shares of the financial services provider’s stock after acquiring an additional 166,300 shares during the quarter. Teacher Retirement System of Texas’ holdings in Brookfield Asset Management were worth $12,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. GoalVest Advisory LLC lifted its position in shares of Brookfield Asset Management by 9.5% during the 2nd quarter. GoalVest Advisory LLC now owns 2,180 shares of the financial services provider’s stock valued at $121,000 after buying an additional 190 shares in the last quarter. Lincoln Capital LLC lifted its position in shares of Brookfield Asset Management by 0.9% during the 1st quarter. Lincoln Capital LLC now owns 23,151 shares of the financial services provider’s stock valued at $1,145,000 after buying an additional 210 shares in the last quarter. Kirr Marbach & Co. LLC IN lifted its holdings in Brookfield Asset Management by 0.7% during the second quarter. Kirr Marbach & Co. LLC IN now owns 35,649 shares of the financial services provider’s stock valued at $1,971,000 after purchasing an additional 249 shares in the last quarter. Private Trust Co. NA lifted its holdings in Brookfield Asset Management by 22.5% during the second quarter. Private Trust Co. NA now owns 1,532 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 281 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Brookfield Asset Management by 17.4% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,015 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 299 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on BAM shares. National Bankshares lowered their target price on shares of Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating on the stock in a research note on Monday. Bank of America downgraded Brookfield Asset Management from a “buy” rating to a “neutral” rating and set a $68.00 price objective on the stock. in a research report on Thursday, September 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Brookfield Asset Management in a report on Wednesday, October 8th. BMO Capital Markets boosted their price target on Brookfield Asset Management from $53.00 to $56.00 and gave the stock a “market perform” rating in a report on Thursday, August 7th. Finally, Jefferies Financial Group boosted their target price on shares of Brookfield Asset Management from $55.00 to $62.00 and gave the stock a “hold” rating in a report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $64.14.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock opened at $55.17 on Wednesday. The firm’s fifty day moving average is $57.68 and its 200 day moving average is $57.06. 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 company has a market cap of $90.36 billion, a price-to-earnings ratio of 37.03, a PEG ratio of 2.04 and a beta of 1.39. Brookfield Asset Management Ltd. has a 52-week low of $41.78 and a 52-week high of $64.10.

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

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, August 29th. Brookfield Asset Management’s dividend payout ratio is presently 117.45%.

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.