Creative Planning Buys 28,502 Shares of Brookfield Asset Management Ltd. $BAM

Creative Planning raised its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 29.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 124,924 shares of the financial services provider’s stock after buying an additional 28,502 shares during the period. Creative Planning’s holdings in Brookfield Asset Management were worth $6,906,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BAM. Foundations Investment Advisors LLC boosted its holdings in shares of Brookfield Asset Management by 16.7% during the second quarter. Foundations Investment Advisors LLC now owns 18,165 shares of the financial services provider’s stock worth $1,004,000 after purchasing an additional 2,596 shares during the period. Advisors Capital Management LLC purchased a new stake in Brookfield Asset Management in the 2nd quarter worth approximately $201,000. Fiera Capital Corp lifted its holdings in Brookfield Asset Management by 15.7% in the 2nd quarter. Fiera Capital Corp now owns 151,805 shares of the financial services provider’s stock worth $8,397,000 after buying an additional 20,631 shares during the period. Geode Capital Management LLC grew its position in shares of Brookfield Asset Management by 62.4% in the 2nd quarter. Geode Capital Management LLC now owns 3,755,340 shares of the financial services provider’s stock worth $208,571,000 after buying an additional 1,443,441 shares during the last quarter. Finally, Everett Harris & Co. CA increased its stake in shares of Brookfield Asset Management by 13.3% during the second quarter. Everett Harris & Co. CA now owns 9,149 shares of the financial services provider’s stock valued at $506,000 after buying an additional 1,071 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BAM. National Bank Financial began coverage on Brookfield Asset Management in a research note on Tuesday, July 29th. They issued an “outperform” rating and a $71.00 price target for the company. Jefferies Financial Group raised their target price on shares of Brookfield Asset Management from $55.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, August 13th. TD Securities lifted 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. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $58.00 price target on shares of Brookfield Asset Management in a research note on Thursday, August 7th. Finally, Wall Street Zen cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.32.

Brookfield Asset Management Stock Up 1.3%

Shares of Brookfield Asset Management stock opened at $50.55 on Thursday. Brookfield Asset Management Ltd. has a 1 year low of $41.78 and a 1 year high of $64.10. The firm has a market cap of $82.80 billion, a price-to-earnings ratio of 33.93, a PEG ratio of 2.04 and a beta of 1.38. The company has a 50-day moving average of $55.70 and a 200 day moving average of $57.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.25.

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 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.34 billion. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. As a group, sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

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 paid a $0.4375 dividend. The ex-dividend date is Friday, November 28th. This represents a $1.75 annualized dividend and a dividend yield of 3.5%. Brookfield Asset Management’s dividend payout ratio is presently 109.38%.

Brookfield Asset Management 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.