Oppenheimer Asset Management Inc. Grows Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Oppenheimer Asset Management Inc. grew its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 48.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,921 shares of the financial services provider’s stock after buying an additional 9,175 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Brookfield Asset Management were worth $1,062,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. purchased a new stake in Brookfield Asset Management in the 4th quarter worth approximately $221,000. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Brookfield Asset Management by 24.9% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 13,527 shares of the financial services provider’s stock valued at $543,000 after purchasing an additional 2,698 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Brookfield Asset Management by 4.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 61,925 shares of the financial services provider’s stock worth $2,488,000 after buying an additional 2,882 shares in the last quarter. Wells Fargo & Company MN grew its position in Brookfield Asset Management by 17.1% during 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 buying an additional 100,997 shares during the period. Finally, Clearbridge Investments LLC acquired a new position in shares of Brookfield Asset Management in the fourth quarter worth about $608,000. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

BAM opened at $47.70 on Friday. The firm has a market capitalization of $21.17 billion, a price-to-earnings ratio of 44.17, a price-to-earnings-growth ratio of 2.26 and a beta of 1.56. The company’s 50 day simple moving average is $41.69 and its two-hundred day simple moving average is $40.43. Brookfield Asset Management Ltd. has a 1-year low of $28.35 and a 1-year high of $47.74.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data 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 return on equity of 92.37% and a net margin of 51.29%. The company had revenue of $916.00 million for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the firm posted $0.28 EPS. On average, equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.42 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Asset Management’s payout ratio is currently 140.74%.

Analyst Upgrades and Downgrades

BAM has been the topic of a number of analyst reports. Jefferies Financial Group assumed coverage on Brookfield Asset Management in a research report on Friday, August 2nd. They set a “hold” rating and a $43.00 target price on the stock. TD Securities boosted their price objective on Brookfield Asset Management from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Scotiabank decreased their target price on Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company assumed coverage on shares of Brookfield Asset Management in a report on Thursday, September 12th. They issued an “underweight” rating and a $42.00 price target for the company. Finally, The Goldman Sachs Group increased their price objective on shares of Brookfield Asset Management from $41.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $43.81.

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.