Denali Advisors LLC Buys Shares of 6,134 Brookfield Asset Management Ltd. $BAM

Denali Advisors LLC bought a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 6,134 shares of the financial services provider’s stock, valued at approximately $339,000.

Several other institutional investors also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. grew its position in Brookfield Asset Management by 81.6% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 17,114 shares of the financial services provider’s stock valued at $946,000 after acquiring an additional 7,691 shares in the last quarter. Whittier Trust Co. grew its position in Brookfield Asset Management by 20.4% in the 2nd quarter. Whittier Trust Co. now owns 45,508 shares of the financial services provider’s stock valued at $2,515,000 after acquiring an additional 7,717 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in Brookfield Asset Management by 18.9% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 79,236 shares of the financial services provider’s stock valued at $4,375,000 after acquiring an additional 12,571 shares in the last quarter. Private Trust Co. NA grew its position in Brookfield Asset Management by 22.5% in the 2nd quarter. Private Trust Co. NA now owns 1,532 shares of the financial services provider’s stock valued at $85,000 after acquiring an additional 281 shares in the last quarter. Finally, TD Asset Management Inc grew its position in Brookfield Asset Management by 1.6% in the 2nd quarter. TD Asset Management Inc now owns 15,589,384 shares of the financial services provider’s stock valued at $861,101,000 after acquiring an additional 250,068 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Price Performance

BAM stock opened at $53.75 on Friday. The business has a 50 day moving average price of $58.05 and a 200 day moving average price of $56.71. The stock has a market cap of $88.03 billion, a price-to-earnings ratio of 36.07, a PEG ratio of 2.02 and a beta of 1.39. Brookfield Asset Management Ltd. has a fifty-two week low of $41.78 and a fifty-two week high of $64.10. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.14.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its 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). The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%. Equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were paid a dividend of $0.4375 per share. The ex-dividend date was Friday, August 29th. This represents a $1.75 annualized dividend and a yield of 3.3%. Brookfield Asset Management’s payout ratio is presently 117.45%.

Wall Street Analyst Weigh In

BAM has been the subject of several recent research reports. National Bankshares set a $71.00 price objective on Brookfield Asset Management and gave the company an “outperform” rating in a research note on Tuesday, July 29th. BMO Capital Markets lifted their price objective on Brookfield Asset Management from $53.00 to $56.00 and gave the company a “market perform” rating in a research note on Thursday, August 7th. National Bank Financial initiated coverage on Brookfield Asset Management in a research note on Tuesday, July 29th. They issued an “outperform” rating and a $71.00 price objective for the company. Bank of America cut 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. Finally, Royal Bank Of Canada lifted their price objective on Brookfield Asset Management from $74.00 to $76.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Two 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 data from MarketBeat.com, Brookfield Asset Management currently has an average rating of “Moderate Buy” and an average target price of $64.27.

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.