Brookfield Asset Management Ltd. (NYSE:BAM) Shares Bought by Richardson Financial Services Inc.

Richardson Financial Services Inc. lifted its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 368.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 960 shares of the financial services provider’s stock after acquiring an additional 755 shares during the quarter. Richardson Financial Services Inc.’s holdings in Brookfield Asset Management were worth $37,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BAM. Bank of Nova Scotia Trust Co. grew its position in Brookfield Asset Management by 4.4% during the 1st quarter. Bank of Nova Scotia Trust Co. now owns 6,202 shares of the financial services provider’s stock worth $261,000 after purchasing an additional 263 shares in the last quarter. CWM LLC grew its holdings in shares of Brookfield Asset Management by 12.2% during the second quarter. CWM LLC now owns 2,448 shares of the financial services provider’s stock valued at $93,000 after buying an additional 267 shares in the last quarter. Choate Investment Advisors raised its position in Brookfield Asset Management by 3.3% during the first quarter. Choate Investment Advisors now owns 8,900 shares of the financial services provider’s stock valued at $374,000 after buying an additional 285 shares during the period. Continuum Advisory LLC lifted its stake in Brookfield Asset Management by 57.6% in 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 in the last quarter. Finally, Tritonpoint Wealth LLC lifted its stake in Brookfield Asset Management by 0.4% in the 1st quarter. Tritonpoint Wealth LLC now owns 78,194 shares of the financial services provider’s stock worth $3,038,000 after acquiring an additional 321 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

Shares of NYSE BAM opened at $47.70 on Friday. The business’s 50-day simple moving average is $41.69 and its 200-day simple moving average is $40.43. Brookfield Asset Management Ltd. has a 52 week low of $28.35 and a 52 week high of $47.74. The firm has a market cap of $21.17 billion, a price-to-earnings ratio of 44.17, a P/E/G ratio of 2.26 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). The company had revenue of $916.00 million for the quarter, compared to analyst estimates of $1.16 billion. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. During the same quarter last year, the business earned $0.28 EPS. As a group, equities research analysts forecast 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 declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders 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 yield of 3.19%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is 140.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on BAM shares. JPMorgan Chase & Co. dropped their target price on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Bank of America lifted their target price on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Wells Fargo & Company started coverage on Brookfield Asset Management in a report on Thursday, September 12th. They set an “underweight” rating and a $42.00 price objective for the company. Finally, BMO Capital Markets boosted 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 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $43.81.

Brookfield Asset Management 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.