Farmers & Merchants Investments Inc. Takes Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Farmers & Merchants Investments Inc. acquired a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,519 shares of the financial services provider’s stock, valued at approximately $96,000.

Other institutional investors have also added to or reduced their stakes in the company. Beutel Goodman & Co Ltd. increased its holdings in shares of Brookfield Asset Management by 114.5% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 6,922,224 shares of the financial services provider’s stock worth $279,387,000 after buying an additional 3,695,774 shares in the last quarter. National Bank of Canada FI grew its position in Brookfield Asset Management by 15.5% during the 1st quarter. National Bank of Canada FI now owns 801,163 shares of the financial services provider’s stock worth $31,742,000 after acquiring an additional 107,245 shares during the last quarter. Hsbc Holdings PLC increased its holdings in Brookfield Asset Management by 42.4% in the 4th quarter. Hsbc Holdings PLC now owns 628,945 shares of the financial services provider’s stock worth $25,265,000 after purchasing an additional 187,250 shares in the last quarter. Wells Fargo & Company MN raised its position in Brookfield Asset Management by 17.1% in the fourth quarter. Wells Fargo & Company MN now owns 692,801 shares of the financial services provider’s stock valued at $27,842,000 after purchasing an additional 100,997 shares during the last quarter. Finally, Partners Value Investments L.P. boosted its stake in shares of Brookfield Asset Management by 0.9% during the fourth quarter. Partners Value Investments L.P. now owns 30,807,960 shares of the financial services provider’s stock valued at $1,237,556,000 after purchasing an additional 280,098 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Trading Down 1.0 %

Shares of Brookfield Asset Management stock opened at $40.82 on Friday. The business has a 50-day moving average price of $40.58 and a two-hundred day moving average price of $40.19. Brookfield Asset Management Ltd. has a 1-year low of $28.35 and a 1-year high of $44.38. The company has a market cap of $18.11 billion, a P/E ratio of 37.80, a PEG ratio of 2.09 and a beta of 1.57.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued 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). The business had revenue of $916.00 million during the quarter, compared to the consensus estimate of $1.16 billion. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. During the same quarter in the previous year, the firm posted $0.28 earnings per share. Equities research analysts forecast 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. Investors of record on Friday, August 30th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Asset Management’s dividend payout ratio is presently 140.74%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BAM. StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Scotiabank decreased 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 research report on Thursday, August 8th. TD Securities lifted their price target 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. CIBC increased their price objective on Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a report on Friday, July 19th. Finally, Jefferies Financial Group began coverage on Brookfield Asset Management in a report on Friday, August 2nd. They set a “hold” rating and a $43.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $42.46.

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.