AGF Management Ltd. Increases Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

AGF Management Ltd. increased its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 48.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,015,919 shares of the financial services provider’s stock after buying an additional 329,573 shares during the period. AGF Management Ltd. owned about 0.23% of Brookfield Asset Management worth $38,749,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. YHB Investment Advisors Inc. purchased a new position in shares of Brookfield Asset Management during the 1st quarter valued at approximately $26,000. Massmutual Trust Co. FSB ADV boosted its stake in Brookfield Asset Management by 98.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 385 shares during the last quarter. Continuum Advisory LLC grew its holdings in 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 in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of Brookfield Asset Management by 574.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 758 shares during the last quarter. Finally, WASHINGTON TRUST Co raised its stake in shares of 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 purchasing an additional 640 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 3.6 %

Shares of NYSE BAM opened at $44.27 on Thursday. The company has a market cap of $19.65 billion, a price-to-earnings ratio of 40.99, a price-to-earnings-growth ratio of 2.09 and a beta of 1.57. Brookfield Asset Management Ltd. has a 12-month low of $28.35 and a 12-month high of $44.38. The stock’s 50 day simple moving average is $40.87 and its 200 day simple moving average is $40.23.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced 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). The business had revenue of $916.00 million for the quarter, compared to the consensus estimate 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 period in the previous year, the firm earned $0.28 EPS. As a group, equities analysts forecast that Brookfield Asset Management Ltd. will post 1.42 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders 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 3.43%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Asset Management’s payout ratio is currently 140.74%.

Analysts Set New Price Targets

Several analysts recently weighed in on BAM shares. Deutsche Bank Aktiengesellschaft boosted their price objective on Brookfield Asset Management from $43.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, August 8th. StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Jefferies Financial Group initiated coverage on shares of Brookfield Asset Management in a report on Friday, August 2nd. They issued a “hold” rating and a $43.00 price objective for the company. Scotiabank dropped their target price 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. Finally, BMO Capital Markets lifted their price target on shares of Brookfield Asset Management from $37.00 to $40.00 and gave the company a “market perform” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Brookfield Asset Management presently has an average rating of “Hold” and a consensus price target of $42.79.

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.