Sequoia Financial Advisors LLC Grows Holdings in Brookfield Asset Management Ltd. $BAM

Sequoia Financial Advisors LLC grew its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 290,496 shares of the financial services provider’s stock after buying an additional 1,114 shares during the period. Sequoia Financial Advisors LLC’s holdings in Brookfield Asset Management were worth $16,059,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BAM. GAMMA Investing LLC grew its stake in Brookfield Asset Management by 4,745.0% in the 1st quarter. GAMMA Investing LLC now owns 18,750 shares of the financial services provider’s stock worth $908,000 after buying an additional 18,363 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Brookfield Asset Management by 157.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 10,183 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 6,225 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Brookfield Asset Management by 2.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 43,002 shares of the financial services provider’s stock valued at $2,083,000 after purchasing an additional 854 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Brookfield Asset Management by 4.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 221,222 shares of the financial services provider’s stock valued at $10,718,000 after purchasing an additional 8,415 shares in the last quarter. Finally, Louisbourg Investments Inc. boosted its stake in shares of Brookfield Asset Management by 1.2% in the 1st quarter. Louisbourg Investments Inc. now owns 50,152 shares of the financial services provider’s stock valued at $2,430,000 after purchasing an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 3.5%

Shares of BAM opened at $56.96 on Tuesday. The stock has a market capitalization of $93.29 billion, a P/E ratio of 38.23, a PEG ratio of 2.03 and a beta of 1.39. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. The firm has a fifty day simple moving average of $59.20 and a two-hundred day simple moving average of $56.42. Brookfield Asset Management Ltd. has a twelve month low of $41.78 and a twelve month high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.29 billion. On average, research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were issued a $0.4375 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.75 annualized dividend and a yield of 3.1%. Brookfield Asset Management’s dividend payout ratio is 117.45%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BAM. CIBC upped their price objective on shares of Brookfield Asset Management from $70.00 to $71.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. TD Securities upped their price objective on shares of Brookfield Asset Management from $66.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Bank of America cut shares of Brookfield Asset Management from a “buy” rating to a “neutral” rating and set a $68.00 price objective for the company. in a research note on Thursday, September 4th. Wells Fargo & Company upped their price objective on shares of Brookfield Asset Management from $55.00 to $57.00 and gave the company an “underweight” rating in a research note on Friday, July 11th. Finally, Piper Sandler cut their price objective on shares of Brookfield Asset Management from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Brookfield Asset Management has a consensus rating of “Moderate Buy” and a consensus target price of $64.02.

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.