Bank of New York Mellon Corp Has $24.30 Million Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Bank of New York Mellon Corp boosted its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 638,570 shares of the financial services provider’s stock after buying an additional 5,368 shares during the period. Bank of New York Mellon Corp owned approximately 0.14% of Brookfield Asset Management worth $24,298,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of BAM. YHB Investment Advisors Inc. acquired a new position in shares of Brookfield Asset Management during the first quarter valued at about $26,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Brookfield Asset Management by 98.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 385 shares during the period. Continuum Advisory LLC raised its holdings in shares of Brookfield Asset Management by 57.6% during the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 285 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Brookfield Asset Management by 574.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 758 shares during the period. Finally, WASHINGTON TRUST Co raised its holdings in shares of Brookfield Asset Management by 151.3% during the second quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 640 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BAM. Scotiabank dropped their price objective on shares of Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating on the stock in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. TD Securities upped their target price on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. StockNews.com lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $42.46.

Brookfield Asset Management Stock Down 0.6 %

Brookfield Asset Management stock opened at $40.43 on Thursday. Brookfield Asset Management Ltd. has a twelve month low of $28.35 and a twelve month high of $44.38. The firm has a 50 day moving average price of $40.46 and a 200-day moving average price of $40.19. The company has a market capitalization of $17.94 billion, a P/E ratio of 37.44, a P/E/G ratio of 2.09 and a beta of 1.57.

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 analysts’ consensus estimates of $0.35 by ($0.01). Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. The company had revenue of $916.00 million for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the company earned $0.28 earnings per share. Equities analysts expect that Brookfield Asset Management Ltd. will post 1.42 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date is Friday, August 30th. Brookfield Asset Management’s dividend payout ratio is currently 140.74%.

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.