Intech Investment Management LLC Makes New Investment in Brookfield Asset Management Ltd. (NYSE:BAM)

Intech Investment Management LLC purchased a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM – Free Report) (TSE:BAM.A) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 8,089 shares of the financial services provider’s stock, valued at approximately $340,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Blair William & Co. IL increased its position in Brookfield Asset Management by 28.6% during the first quarter. Blair William & Co. IL now owns 22,824 shares of the financial services provider’s stock valued at $959,000 after acquiring an additional 5,076 shares during the last quarter. Kingsview Wealth Management LLC bought a new position in shares of Brookfield Asset Management in the first quarter worth approximately $250,000. SageView Advisory Group LLC purchased a new stake in Brookfield Asset Management in the 1st quarter worth $273,000. TD Asset Management Inc boosted its stake in shares of Brookfield Asset Management by 8.6% in the first quarter. TD Asset Management Inc now owns 12,486,721 shares of the financial services provider’s stock worth $525,028,000 after acquiring an additional 988,538 shares during the period. Finally, Schneider Downs Wealth Management Advisors LP grew its holdings in Brookfield Asset Management by 6.0% during the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 8,547 shares of the financial services provider’s stock valued at $359,000 after buying an additional 483 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

BAM has been the subject of a number of research analyst reports. Scotiabank cut their price objective on Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating for the company in a research report on Thursday, May 9th. CIBC raised their target price on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a report on Friday. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. Royal Bank of Canada increased their price objective on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Finally, JPMorgan Chase & Co. started coverage on shares of Brookfield Asset Management in a report on Wednesday, May 15th. They issued a “neutral” rating and a $41.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $42.32.

Get Our Latest Analysis on BAM

Brookfield Asset Management Price Performance

Shares of NYSE:BAM opened at $42.31 on Tuesday. The firm has a market capitalization of $18.78 billion, a PE ratio of 39.18, a price-to-earnings-growth ratio of 1.91 and a beta of 1.63. The business has a 50 day simple moving average of $39.23 and a two-hundred day simple moving average of $39.90. Brookfield Asset Management Ltd. has a 1 year low of $28.35 and a 1 year high of $43.00.

Brookfield Asset Management (NYSE:BAM – Get Free Report) (TSE:BAM.A) last posted its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The company had revenue of $884.00 million during the quarter. Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. Equities research analysts expect that Brookfield Asset Management Ltd. will post 1.47 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 31st were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend was Friday, May 31st. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 140.74%.

Brookfield Asset Management Profile

(Free Report)

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.

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