Brookfield Asset Management Ltd. $BAM Shares Acquired by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. increased its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 6.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,003,128 shares of the financial services provider’s stock after buying an additional 294,966 shares during the period. TD Waterhouse Canada Inc.’s holdings in Brookfield Asset Management were worth $227,422,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT boosted its position in Brookfield Asset Management by 241.3% in the 4th quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock valued at $26,000 after buying an additional 345 shares during the last quarter. Trust Co. of Vermont acquired a new stake in Brookfield Asset Management during the 2nd quarter valued at approximately $25,000. Allied Private Wealth LLC purchased a new stake in Brookfield Asset Management during the 2nd quarter worth approximately $40,000. Allworth Financial LP increased its holdings in Brookfield Asset Management by 47.8% during the 4th quarter. Allworth Financial LP now owns 1,029 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 333 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Brookfield Asset Management by 709.8% in the 4th quarter. Fifth Third Bancorp now owns 1,069 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 937 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 1.2%

NYSE:BAM opened at $50.29 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $49.44 and its two-hundred day moving average is $47.80. Brookfield Asset Management Ltd. has a 52 week low of $42.20 and a 52 week high of $62.57. The company has a market cap of $82.39 billion, a PE ratio of 29.24, a P/E/G ratio of 2.03 and a beta of 1.27.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.47 billion. Brookfield Asset Management had a return on equity of 31.50% and a net margin of 48.89%. On average, analysts predict that Brookfield Asset Management Ltd. will post 1.78 EPS for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be issued a $0.5025 dividend. This represents a $2.01 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Monday, August 31st. Brookfield Asset Management’s payout ratio is currently 116.86%.

Wall Street Analyst Weigh In

BAM has been the subject of several research analyst reports. Wall Street Zen upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. UBS Group lifted their price target on shares of Brookfield Asset Management from $48.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Brookfield Asset Management in a report on Wednesday, August 12th. Scotiabank reiterated an “outperform” rating and set a $59.00 price objective on shares of Brookfield Asset Management in a research note on Thursday, August 6th. Finally, Scotia raised their price objective on shares of Brookfield Asset Management from $57.00 to $59.00 and gave the stock a “sector outperform” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $58.65.

About Brookfield Asset Management

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.