BTG Pactual Asset Management US LLC Invests $510,000 in Brookfield Asset Management Ltd. $BAM

BTG Pactual Asset Management US LLC acquired a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the second quarter, HoldingsChannel reports. The fund acquired 11,373 shares of the financial services provider’s stock, valued at approximately $510,000.

A number of other hedge funds also recently made changes to their positions in BAM. Public Employees Retirement System of Ohio purchased a new stake in Brookfield Asset Management in the 2nd quarter worth approximately $8,235,000. Ancora Advisors LLC purchased a new position in Brookfield Asset Management during the second quarter valued at approximately $995,000. Madison Asset Management LLC bought a new position in shares of Brookfield Asset Management in the second quarter worth approximately $70,433,000. Trust Co. of Vermont bought a new position in shares of Brookfield Asset Management in the second quarter worth approximately $25,000. Finally, Cardinal Capital Management Inc. purchased a new stake in shares of Brookfield Asset Management in the second quarter worth $3,797,000. 68.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. National Bank Financial lifted their target price on shares of Brookfield Asset Management from $69.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. UBS Group increased their price target on Brookfield Asset Management from $48.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Morgan Stanley set a $56.00 price target on Brookfield Asset Management and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Scotiabank restated an “outperform” rating and issued a $59.00 price objective on shares of Brookfield Asset Management in a research report on Thursday, August 6th. Finally, Scotia upped their price objective on Brookfield Asset Management from $57.00 to $59.00 and gave the stock a “sector outperform” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $59.32.

Brookfield Asset Management Trading Down 1.2%

Brookfield Asset Management stock opened at $51.50 on Tuesday. Brookfield Asset Management Ltd. has a 1 year low of $42.20 and a 1 year high of $62.57. The firm’s 50 day moving average price is $49.18 and its 200-day moving average price is $47.85. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market cap of $84.37 billion, a P/E ratio of 29.94, a PEG ratio of 2.13 and a beta of 1.26.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.47 billion. Brookfield Asset Management had a net margin of 48.89% and a return on equity of 31.50%. On average, equities analysts predict that Brookfield Asset Management Ltd. will post 1.78 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a $0.5025 dividend. The ex-dividend date is Monday, August 31st. This represents a $2.01 annualized dividend and a yield of 3.9%. Brookfield Asset Management’s payout ratio is presently 116.86%.

Brookfield Asset Management Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.