Radnor Capital Management LLC raised its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM – Free Report) (TSE:BAM.A) by 237.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,239 shares of the financial services provider’s stock after buying an additional 19,874 shares during the period. Radnor Capital Management LLC’s holdings in Brookfield Asset Management were worth $1,479,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Truist Financial Corp increased its stake in shares of Brookfield Asset Management by 1.4% in the third quarter. Truist Financial Corp now owns 13,240 shares of the financial services provider’s stock worth $754,000 after purchasing an additional 187 shares during the period. Focus Financial Network Inc. increased its stake in shares of Brookfield Asset Management by 4.6% in the fourth quarter. Focus Financial Network Inc. now owns 4,436 shares of the financial services provider’s stock worth $232,000 after purchasing an additional 194 shares during the period. Cullen Frost Bankers Inc. increased its stake in shares of Brookfield Asset Management by 38.0% in the third quarter. Cullen Frost Bankers Inc. now owns 846 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 233 shares during the period. Kraematon Investment Advisors Inc. increased its stake in shares of Brookfield Asset Management by 2.0% in the fourth quarter. Kraematon Investment Advisors Inc. now owns 12,073 shares of the financial services provider’s stock worth $632,000 after purchasing an additional 234 shares during the period. Finally, Integrated Wealth Concepts LLC increased its stake in shares of Brookfield Asset Management by 3.2% in the third quarter. Integrated Wealth Concepts LLC now owns 7,578 shares of the financial services provider’s stock worth $431,000 after purchasing an additional 238 shares during the period. 68.41% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on BAM. Piper Sandler reiterated a “neutral” rating and issued a $50.00 price objective (up from $48.00) on shares of Brookfield Asset Management in a research note on Monday. BMO Capital Markets upgraded Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 5th. Canadian Imperial Bank of Commerce set a $62.50 price objective on Brookfield Asset Management in a research note on Monday, May 11th. Royal Bank Of Canada dropped their price objective on Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating on the stock in a research note on Monday, May 11th. Finally, Morgan Stanley dropped their price objective on Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Brookfield Asset Management currently has a consensus rating of “Hold” and an average price target of $60.21.
Brookfield Asset Management Stock Up 1.5%
BAM stock opened at $48.65 on Tuesday. Brookfield Asset Management Ltd. has a twelve month low of $42.20 and a twelve month high of $64.10. The company has a market cap of $79.70 billion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 1.95 and a beta of 1.28. The business’s 50-day simple moving average is $46.08 and its 200 day simple moving average is $49.85. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.34.
Brookfield Asset Management (NYSE:BAM – Get Free Report) (TSE:BAM.A) last released its earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%.The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.43 billion. On average, research analysts anticipate that Brookfield Asset Management Ltd. will post 1.74 earnings per share for the current year.
Brookfield Asset Management Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be given a dividend of $0.5025 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $2.01 dividend on an annualized basis and a yield of 4.1%. Brookfield Asset Management’s dividend payout ratio (DPR) is 130.52%.
Brookfield Asset Management Company Profile
Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.
The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.
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