Capital Group Private Client Services Inc. Raises Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Capital Group Private Client Services Inc. boosted its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 57.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,423 shares of the financial services provider’s stock after purchasing an additional 15,424 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in Brookfield Asset Management were worth $1,783,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BAM. YHB Investment Advisors Inc. bought a new stake in shares of Brookfield Asset Management during the first quarter valued at approximately $26,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Brookfield Asset Management by 574.2% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 758 shares during the last quarter. Quent Capital LLC grew its stake in shares of Brookfield Asset Management by 62.4% in the first quarter. Quent Capital LLC now owns 1,132 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 435 shares during the period. Bfsg LLC bought a new stake in shares of Brookfield Asset Management in the fourth quarter worth approximately $51,000. Finally, Headlands Technologies LLC purchased a new position in shares of Brookfield Asset Management during the first quarter valued at approximately $53,000. Institutional investors own 68.41% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on BAM. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. CIBC increased their price target on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research report on Friday, July 19th. Royal Bank of Canada boosted their price objective on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Scotiabank decreased their target price on Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating on the stock in a report on Thursday, May 9th. Finally, JPMorgan Chase & Co. began coverage on Brookfield Asset Management in a report on Wednesday, May 15th. They set a “neutral” rating and a $41.00 price target for the company. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $42.32.

Brookfield Asset Management Price Performance

Shares of BAM stock traded up $0.64 during mid-day trading on Friday, hitting $42.10. The company had a trading volume of 633,641 shares, compared to its average volume of 1,349,007. The company has a market capitalization of $18.68 billion, a P/E ratio of 38.98, a P/E/G ratio of 1.91 and a beta of 1.62. The stock’s 50 day moving average price is $39.36 and its 200-day moving average price is $39.97. Brookfield Asset Management Ltd. has a 52-week low of $28.35 and a 52-week high of $43.00.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. The business had revenue of $884.00 million for the quarter. Brookfield Asset Management had a net margin of 49.36% and a return on equity of 98.98%. On average, equities research analysts expect that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, May 31st were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Friday, May 31st. Brookfield Asset Management’s payout ratio is presently 140.74%.

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.