DekaBank Deutsche Girozentrale Buys 23,143 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

DekaBank Deutsche Girozentrale grew its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 34.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,808 shares of the financial services provider’s stock after purchasing an additional 23,143 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Brookfield Asset Management were worth $3,315,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. YHB Investment Advisors Inc. purchased a new stake in Brookfield Asset Management during the 1st quarter valued at $26,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Brookfield Asset Management by 98.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock worth $30,000 after buying an additional 385 shares during the period. Continuum Advisory LLC lifted its stake in shares of Brookfield Asset Management by 57.6% during the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 285 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in 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 period. Finally, WASHINGTON TRUST Co grew its position in Brookfield Asset Management by 151.3% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 640 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on BAM. Scotiabank decreased their target price on Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating for the company in a research report on Thursday, August 8th. Jefferies Financial Group initiated coverage on Brookfield Asset Management in a report on Friday, August 2nd. They set a “hold” rating and a $43.00 target price for the company. Wells Fargo & Company started coverage on Brookfield Asset Management in a report on Thursday, September 12th. They issued an “underweight” rating and a $42.00 price target on the stock. StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Finally, BMO Capital Markets lifted their target price on Brookfield Asset Management from $37.00 to $40.00 and gave the company a “market perform” rating in a research note on Wednesday, September 11th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Brookfield Asset Management presently has a consensus rating of “Hold” and an average price target of $43.81.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $45.71 on Thursday. The firm has a market capitalization of $20.28 billion, a price-to-earnings ratio of 42.32, a PEG ratio of 2.26 and a beta of 1.56. The stock’s 50-day simple moving average is $41.54 and its 200-day simple moving average is $40.38. Brookfield Asset Management Ltd. has a fifty-two week low of $28.35 and a fifty-two week high of $46.28.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $916.00 million for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the firm posted $0.28 EPS. As a group, equities analysts forecast that Brookfield Asset Management Ltd. will post 1.42 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

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