Choreo LLC Takes Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Choreo LLC bought a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,375 shares of the financial services provider’s stock, valued at approximately $239,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BAM. Envestnet Portfolio Solutions Inc. purchased a new position in Brookfield Asset Management during the fourth quarter worth about $221,000. Vanguard Personalized Indexing Management LLC raised its holdings in Brookfield Asset Management by 24.9% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 13,527 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 2,698 shares in the last quarter. Norges Bank purchased a new position in Brookfield Asset Management during the fourth quarter worth about $239,421,000. PNC Financial Services Group Inc. raised its holdings in Brookfield Asset Management by 4.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 61,925 shares of the financial services provider’s stock worth $2,488,000 after purchasing an additional 2,882 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Brookfield Asset Management by 17.1% during the fourth quarter. Wells Fargo & Company MN now owns 692,801 shares of the financial services provider’s stock worth $27,842,000 after purchasing an additional 100,997 shares in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Scotiabank cut their price target on shares of Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating for the company in a report on Thursday, August 8th. StockNews.com cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. The Goldman Sachs Group increased their target price on shares of Brookfield Asset Management from $41.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Brookfield Asset Management currently has a consensus rating of “Hold” and an average target price of $43.81.

Brookfield Asset Management Price Performance

BAM stock opened at $45.71 on Thursday. The company’s 50 day simple moving average is $41.54 and its 200-day simple moving average is $40.38. The firm has a market capitalization of $20.28 billion, a PE ratio of 42.32, a P/E/G ratio of 2.26 and a beta of 1.56. Brookfield Asset Management Ltd. has a 12 month low of $28.35 and a 12 month high of $46.28.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. The firm had revenue of $916.00 million for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the business posted $0.28 EPS. As a group, sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.42 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a yield of 3.33%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 140.74%.

About Brookfield Asset Management

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.