Brookfield Asset Management Ltd. (NYSE:BAM) Shares Purchased by New South Capital Management Inc.

New South Capital Management Inc. lifted its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 99,219 shares of the financial services provider’s stock after purchasing an additional 935 shares during the quarter. New South Capital Management Inc.’s holdings in Brookfield Asset Management were worth $4,169,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. American Century Companies Inc. lifted its position in Brookfield Asset Management by 1.0% during the 3rd quarter. American Century Companies Inc. now owns 217,536 shares of the financial services provider’s stock worth $7,249,000 after acquiring an additional 2,135 shares during the period. Citigroup Inc. lifted its position in Brookfield Asset Management by 3.6% during the 3rd quarter. Citigroup Inc. now owns 22,626 shares of the financial services provider’s stock worth $757,000 after acquiring an additional 788 shares during the period. Vanguard Group Inc. lifted its position in Brookfield Asset Management by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 10,402,885 shares of the financial services provider’s stock worth $346,832,000 after acquiring an additional 120,714 shares during the period. Anchor Investment Management LLC acquired a new stake in Brookfield Asset Management during the 4th quarter worth approximately $119,000. Finally, First Hawaiian Bank lifted its position in Brookfield Asset Management by 82.7% during the 4th quarter. First Hawaiian Bank now owns 11,669 shares of the financial services provider’s stock worth $469,000 after acquiring an additional 5,283 shares during the period. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Up 1.3 %

NYSE BAM traded up $0.54 during mid-day trading on Friday, hitting $40.74. The stock had a trading volume of 606,799 shares, compared to its average volume of 862,732. Brookfield Asset Management Ltd. has a 52-week low of $28.35 and a 52-week high of $43.00. The company has a market cap of $18.08 billion, a price-to-earnings ratio of 37.72, a P/E/G ratio of 1.87 and a beta of 1.62. The company has a 50 day simple moving average of $39.00 and a 200 day simple moving average of $39.81.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.01. The firm 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%. As a group, equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.73%. The ex-dividend date was Friday, May 31st. Brookfield Asset Management’s payout ratio is 140.74%.

Analysts Set New Price Targets

A number of research firms have weighed in on BAM. Scotiabank decreased 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. JPMorgan Chase & Co. started coverage on Brookfield Asset Management in a research note on Wednesday, May 15th. They set a “neutral” rating and a $41.00 target price for the company. Royal Bank of Canada increased their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Finally, StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $42.14.

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.