Rathbones Group PLC Acquires 1,000 Shares of Brookfield Asset Management Ltd. $BAM

Rathbones Group PLC grew its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 72,144 shares of the financial services provider’s stock after acquiring an additional 1,000 shares during the period. Rathbones Group PLC’s holdings in Brookfield Asset Management were worth $3,985,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Cerity Partners LLC increased its stake in Brookfield Asset Management by 36.6% in the first quarter. Cerity Partners LLC now owns 29,482 shares of the financial services provider’s stock valued at $1,428,000 after acquiring an additional 7,901 shares during the period. Vanguard Group Inc. boosted its holdings in Brookfield Asset Management by 1.8% during the first quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider’s stock valued at $832,833,000 after purchasing an additional 302,852 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Brookfield Asset Management in the 1st quarter valued at approximately $629,000. Envestnet Asset Management Inc. raised its holdings in shares of Brookfield Asset Management by 1.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 430,081 shares of the financial services provider’s stock worth $23,774,000 after buying an additional 6,728 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Brookfield Asset Management by 9.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,096,412 shares of the financial services provider’s stock worth $53,083,000 after buying an additional 97,445 shares during the period. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Down 0.6%

Shares of NYSE BAM opened at $52.97 on Monday. The firm’s 50-day simple moving average is $56.67 and its 200 day simple moving average is $57.42. The company has a market cap of $86.75 billion, a price-to-earnings ratio of 35.55, a price-to-earnings-growth ratio of 2.04 and a beta of 1.38. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. 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 posted its quarterly earnings data on Friday, November 7th. The financial services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.34 billion. On average, research analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be issued a $0.4375 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.3%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 109.38%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. BMO Capital Markets boosted their price target on Brookfield Asset Management from $53.00 to $56.00 and gave the company a “market perform” rating in a research note on Thursday, August 7th. TD Securities boosted their target price on shares of Brookfield Asset Management from $66.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Morgan Stanley set a $62.00 target price on shares of Brookfield Asset Management in a research report on Monday, October 13th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $58.00 price target on shares of Brookfield Asset Management in a report on Thursday, August 7th. Finally, Bank of America lowered shares of Brookfield Asset Management from a “buy” rating to a “neutral” rating and set a $68.00 price target on the stock. in a research report on Thursday, September 4th. 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, Brookfield Asset Management has an average rating of “Moderate Buy” and an average price target of $64.14.

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.