Teacher Retirement System of Texas Boosts Stake in Brookfield Asset Management Ltd. $BAM

Teacher Retirement System of Texas lifted its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 242.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 235,000 shares of the financial services provider’s stock after purchasing an additional 166,300 shares during the period. Teacher Retirement System of Texas’ holdings in Brookfield Asset Management were worth $12,991,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its stake in Brookfield Asset Management by 1,270.6% in the second quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 432 shares during the period. Rossby Financial LCC purchased a new position in Brookfield Asset Management in the 1st quarter worth about $28,000. Truvestments Capital LLC increased its stake in Brookfield Asset Management by 85.5% in the 1st quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider’s stock worth $45,000 after buying an additional 432 shares during the period. DHJJ Financial Advisors Ltd. increased its stake in Brookfield Asset Management by 100,000.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 1,001 shares of the financial services provider’s stock worth $55,000 after buying an additional 1,000 shares during the period. Finally, Trust Co. of Vermont increased its stake in Brookfield Asset Management by 90.4% in the 2nd quarter. Trust Co. of Vermont now owns 1,070 shares of the financial services provider’s stock worth $59,000 after buying an additional 508 shares during the period. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BAM has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $58.00 target price on shares of Brookfield Asset Management in a research report on Thursday, August 7th. Scotiabank raised their price target on Brookfield Asset Management from $66.00 to $67.25 and gave the company a “sector outperform” rating in a research note on Thursday, August 7th. BMO Capital Markets raised their price target 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. TD Securities raised their price target on Brookfield Asset Management from $66.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Finally, Piper Sandler cut their target price on shares of Brookfield Asset Management from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, September 11th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Brookfield Asset Management presently has an average rating of “Moderate Buy” and an average price target of $64.14.

Brookfield Asset Management Stock Up 1.1%

Shares of Brookfield Asset Management stock opened at $55.17 on Wednesday. The firm’s 50 day moving average price is $57.68 and its 200-day moving average price is $57.06. 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 Ltd. has a 52-week low of $41.78 and a 52-week high of $64.10. The company has a market cap of $90.36 billion, a P/E ratio of 37.03, a PEG ratio of 2.04 and a beta of 1.39.

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

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.2%. Brookfield Asset Management’s payout ratio is presently 117.45%.

Brookfield Asset Management Company 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.