Bamco Inc. NY Has $30.76 Million Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Bamco Inc. NY raised its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 4.8% in the 1st quarter, Holdings Channel.com reports. The fund owned 732,019 shares of the financial services provider’s stock after buying an additional 33,835 shares during the quarter. Bamco Inc. NY’s holdings in Brookfield Asset Management were worth $30,759,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BAM. Bank of Nova Scotia Trust Co. grew its position in Brookfield Asset Management by 4.4% during the 1st quarter. Bank of Nova Scotia Trust Co. now owns 6,202 shares of the financial services provider’s stock worth $261,000 after acquiring an additional 263 shares during the last quarter. NBC Securities Inc. grew its position in shares of Brookfield Asset Management by 4.7% in the 4th quarter. NBC Securities Inc. now owns 6,139 shares of the financial services provider’s stock valued at $246,000 after buying an additional 277 shares during the last quarter. Choate Investment Advisors grew its position in shares of Brookfield Asset Management by 3.3% in the 1st quarter. Choate Investment Advisors now owns 8,900 shares of the financial services provider’s stock valued at $374,000 after buying an additional 285 shares during the last quarter. Jackson Hole Capital Partners LLC grew its position in shares of Brookfield Asset Management by 3.1% in the 4th quarter. Jackson Hole Capital Partners LLC now owns 9,770 shares of the financial services provider’s stock valued at $392,000 after buying an additional 291 shares during the last quarter. Finally, Tritonpoint Wealth LLC grew its position in shares of Brookfield Asset Management by 0.4% in the 1st quarter. Tritonpoint Wealth LLC now owns 78,194 shares of the financial services provider’s stock valued at $3,038,000 after buying an additional 321 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 1.5 %

BAM stock traded up $0.64 during trading on Friday, reaching $42.10. 633,641 shares of the stock were exchanged, compared to its average volume of 780,473. The firm’s 50 day moving average is $39.36 and its 200 day moving average is $39.98. Brookfield Asset Management Ltd. has a twelve month low of $28.35 and a twelve month high of $43.00. The firm has a market cap of $18.68 billion, a P/E ratio of 38.98, a price-to-earnings-growth ratio of 1.96 and a beta of 1.62.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. The business had revenue of $884.00 million for the quarter. As a group, analysts predict that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, May 31st were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Friday, May 31st. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 140.74%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BAM shares. Royal Bank of Canada upped their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. Scotiabank cut their target price on Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating on the stock in a research report on Thursday, May 9th. CIBC upped their target price on Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. assumed coverage on Brookfield Asset Management in a research report on Wednesday, May 15th. They set a “neutral” rating and a $41.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $42.32.

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.