Invesco Ltd. Acquires 521,282 Shares of Brookfield Asset Management Ltd. $BAM

Invesco Ltd. increased its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 38.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,867,350 shares of the financial services provider’s stock after buying an additional 521,282 shares during the period. Invesco Ltd. owned 0.11% of Brookfield Asset Management worth $103,227,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BAM. Caitong International Asset Management Co. Ltd lifted its position in shares of Brookfield Asset Management by 1,270.6% during the second quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 432 shares in the last quarter. Manchester Capital Management LLC raised its position in Brookfield Asset Management by 559.5% in the 2nd quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 442 shares during the last quarter. Truvestments Capital LLC lifted its holdings in Brookfield Asset Management by 85.5% during the 1st quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider’s stock worth $45,000 after buying an additional 432 shares in the last quarter. DHJJ Financial Advisors Ltd. lifted its holdings in Brookfield Asset Management by 100,000.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 1,001 shares of the financial services provider’s stock worth $55,000 after buying an additional 1,000 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in Brookfield Asset Management by 127.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 995 shares of the financial services provider’s stock valued at $55,000 after buying an additional 558 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock opened at $54.45 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $89.17 billion, a P/E ratio of 34.03, a PEG ratio of 1.98 and a beta of 1.39. The business has a 50-day moving average of $53.88 and a 200-day moving average of $56.79. Brookfield Asset Management Ltd. has a 1 year low of $41.78 and a 1 year high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Friday, November 7th. The financial services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. Brookfield Asset Management had a net margin of 58.25% and a return on equity of 33.77%. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.34 billion. On average, equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders 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 annualized dividend and a dividend yield of 3.2%. Brookfield Asset Management’s payout ratio is 109.38%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Piper Sandler dropped their target price on Brookfield Asset Management from $65.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, September 11th. Bank of America downgraded shares of Brookfield Asset Management from a “buy” rating to a “neutral” rating and set a $68.00 target price on the stock. in a research report on Thursday, September 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Brookfield Asset Management in a research note on Monday. Keefe, Bruyette & Woods lowered their price target on shares of Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating for the company in a research report on Monday, November 10th. Finally, Royal Bank Of Canada increased their price objective on shares of Brookfield Asset Management from $74.00 to $76.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $64.32.

Brookfield Asset Management Company 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.