Strs Ohio Takes $18.59 Million Position in Brookfield Asset Management Ltd. $BAM

Strs Ohio purchased a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the second quarter, Holdings Channel reports. The fund purchased 336,397 shares of the financial services provider’s stock, valued at approximately $18,587,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BAM. Rossby Financial LCC purchased a new stake in shares of Brookfield Asset Management in the 1st quarter valued at approximately $28,000. Teacher Retirement System of Texas raised its stake in shares of Brookfield Asset Management by 9.9% in the 1st quarter. Teacher Retirement System of Texas now owns 68,700 shares of the financial services provider’s stock valued at $3,329,000 after acquiring an additional 6,200 shares during the period. Mutual Advisors LLC raised its stake in shares of Brookfield Asset Management by 11.3% in the 1st quarter. Mutual Advisors LLC now owns 9,350 shares of the financial services provider’s stock valued at $495,000 after acquiring an additional 952 shares during the period. M&T Bank Corp raised its stake in shares of Brookfield Asset Management by 53.1% in the 1st quarter. M&T Bank Corp now owns 37,473 shares of the financial services provider’s stock valued at $1,815,000 after acquiring an additional 12,996 shares during the period. Finally, Bridges Investment Management Inc. raised its stake in shares of Brookfield Asset Management by 5.0% in the 1st quarter. Bridges Investment Management Inc. now owns 13,057 shares of the financial services provider’s stock valued at $633,000 after acquiring an additional 618 shares during the period. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Trading Up 0.7%

NYSE BAM opened at $54.05 on Friday. 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 stock has a market capitalization of $88.52 billion, a PE ratio of 36.27, a price-to-earnings-growth ratio of 2.04 and a beta of 1.39. The firm has a 50 day moving average of $57.34 and a two-hundred day moving average of $57.12.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.38 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 for the quarter, compared to analyst estimates of $1.29 billion. As a group, research analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, August 29th. Brookfield Asset Management’s payout ratio is 117.45%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BAM shares. TD Securities boosted their price target 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. Piper Sandler reduced 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 report on Thursday, September 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Brookfield Asset Management in a report on Wednesday, October 8th. Bank of America lowered shares of Brookfield Asset Management from a “buy” rating to a “neutral” rating and set a $68.00 target price on the stock. in a report on Thursday, September 4th. Finally, BMO Capital Markets increased their target price on shares of Brookfield Asset Management from $53.00 to $56.00 and gave the stock a “market perform” rating in a report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $64.14.

About Brookfield Asset Management

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.