Procyon Advisors LLC Purchases 366 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Procyon Advisors LLC lifted its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 4.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,063 shares of the financial services provider’s stock after purchasing an additional 366 shares during the quarter. Procyon Advisors LLC’s holdings in Brookfield Asset Management were worth $429,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV boosted its position in shares of 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 worth $30,000 after purchasing an additional 385 shares in the last quarter. Continuum Advisory LLC raised its holdings in shares of 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 during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings 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 acquiring an additional 758 shares during the last quarter. Richardson Financial Services Inc. raised its holdings in shares of Brookfield Asset Management by 368.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 755 shares during the last quarter. Finally, WASHINGTON TRUST Co raised its holdings 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 worth $40,000 after acquiring an additional 640 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM opened at $48.68 on Wednesday. The firm has a fifty day moving average price of $43.83 and a two-hundred day moving average price of $41.15. Brookfield Asset Management Ltd. has a one year low of $28.35 and a one year high of $49.39. The company has a market cap of $21.60 billion, a price-to-earnings ratio of 45.07, a PEG 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 firm had revenue of $916.00 million during 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 business earned $0.28 earnings per share. Equities research analysts expect that Brookfield Asset Management Ltd. will post 1.43 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date was Friday, August 30th. Brookfield Asset Management’s payout ratio is presently 140.74%.

Analyst Upgrades and Downgrades

Several research firms have commented on BAM. CIBC increased their price objective on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. decreased their price objective on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. TD Securities raised their price target on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. BMO Capital Markets raised their price target on shares of Brookfield Asset Management from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 11th. Finally, The Goldman Sachs Group raised their price target on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $46.41.

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.