Brookfield Asset Management Ltd. $BAM Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,673,146 shares of the financial services provider’s stock after acquiring an additional 79,124 shares during the period. JPMorgan Chase & Co. owned approximately 0.10% of Brookfield Asset Management worth $92,492,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. GoalVest Advisory LLC increased its holdings in shares of Brookfield Asset Management by 9.5% during the second quarter. GoalVest Advisory LLC now owns 2,180 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 190 shares during the period. Lincoln Capital LLC grew its position in Brookfield Asset Management by 0.9% in the 1st quarter. Lincoln Capital LLC now owns 23,151 shares of the financial services provider’s stock valued at $1,145,000 after buying an additional 210 shares in the last quarter. Kirr Marbach & Co. LLC IN increased its stake in Brookfield Asset Management by 0.7% during the 2nd quarter. Kirr Marbach & Co. LLC IN now owns 35,649 shares of the financial services provider’s stock valued at $1,971,000 after buying an additional 249 shares during the period. SBI Securities Co. Ltd. raised its position in shares of Brookfield Asset Management by 7.8% during the 2nd quarter. SBI Securities Co. Ltd. now owns 3,454 shares of the financial services provider’s stock worth $191,000 after buying an additional 250 shares in the last quarter. Finally, Private Trust Co. NA raised its position in shares of Brookfield Asset Management by 22.5% during the 2nd quarter. Private Trust Co. NA now owns 1,532 shares of the financial services provider’s stock worth $85,000 after buying an additional 281 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

BAM has been the topic of a number of research analyst reports. Royal Bank Of Canada raised their price objective on shares of Brookfield Asset Management from $74.00 to $76.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $58.00 price target on shares of Brookfield Asset Management in a research report on Thursday, August 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Brookfield Asset Management in a research note on Monday. Wall Street Zen cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Finally, Morgan Stanley set a $62.00 target price on Brookfield Asset Management in a report on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $64.32.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock opened at $52.04 on Friday. Brookfield Asset Management Ltd. has a 12 month low of $41.78 and a 12 month 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. The stock has a market cap of $85.23 billion, a PE ratio of 34.92, a price-to-earnings-growth ratio of 2.04 and a beta of 1.38. The business has a fifty day simple moving average of $54.87 and a 200-day simple moving average of $57.11.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Friday, November 7th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%.The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.34 billion. On average, sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Friday, November 28th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 109.38%.

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.