Brookfield Asset Management Ltd. (NYSE:BAM) Shares Bought by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV boosted its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 98.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 777 shares of the financial services provider’s stock after purchasing an additional 385 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Brookfield Asset Management were worth $30,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Beutel Goodman & Co Ltd. lifted its position in shares of Brookfield Asset Management by 114.5% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 6,922,224 shares of the financial services provider’s stock valued at $279,387,000 after buying an additional 3,695,774 shares in the last quarter. National Bank of Canada FI lifted its holdings in Brookfield Asset Management by 15.5% during the first quarter. National Bank of Canada FI now owns 801,163 shares of the financial services provider’s stock valued at $31,742,000 after purchasing an additional 107,245 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Brookfield Asset Management by 17.1% in 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 purchasing an additional 100,997 shares during the period. Hsbc Holdings PLC increased its stake in shares of Brookfield Asset Management by 42.4% during the fourth quarter. Hsbc Holdings PLC now owns 628,945 shares of the financial services provider’s stock worth $25,265,000 after purchasing an additional 187,250 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in Brookfield Asset Management by 127.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 62,914 shares of the financial services provider’s stock valued at $2,537,000 after buying an additional 35,300 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on BAM. StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday. Jefferies Financial Group initiated coverage on Brookfield Asset Management in a research note on Friday, August 2nd. They issued a “hold” rating and a $43.00 price objective for the company. CIBC lifted their target price on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research note on Friday, July 19th. TD Securities upped their target price on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Scotiabank raised their price target on shares of Brookfield Asset Management from $44.50 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Two 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. Based on data from MarketBeat, Brookfield Asset Management currently has an average rating of “Hold” and an average price target of $42.67.

Brookfield Asset Management Price Performance

Shares of NYSE BAM opened at $40.16 on Wednesday. The company has a market capitalization of $17.82 billion, a P/E ratio of 37.19, a P/E/G ratio of 1.95 and a beta of 1.57. The company has a 50 day simple moving average of $39.58 and a 200-day simple moving average of $40.13. Brookfield Asset Management Ltd. has a 1 year low of $28.35 and a 1 year high of $44.38.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $884.00 million during the quarter. As a group, research analysts expect that Brookfield Asset Management Ltd. will post 1.47 EPS for the current year.

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.