Brookfield Asset Management Ltd. $BAM Shares Purchased by Entropy Technologies LP

Entropy Technologies LP boosted its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 31.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,257 shares of the financial services provider’s stock after acquiring an additional 19,133 shares during the quarter. Entropy Technologies LP’s holdings in Brookfield Asset Management were worth $3,567,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of BAM. AQR Capital Management LLC purchased a new stake in Brookfield Asset Management during the first quarter worth $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Brookfield Asset Management by 10.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,050 shares of the financial services provider’s stock valued at $12,648,000 after acquiring an additional 24,013 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Brookfield Asset Management by 24.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,512 shares of the financial services provider’s stock valued at $139,000 after acquiring an additional 497 shares during the last quarter. Cerity Partners LLC lifted its position in shares of Brookfield Asset Management by 17.6% in the second quarter. Cerity Partners LLC now owns 34,666 shares of the financial services provider’s stock valued at $1,916,000 after acquiring an additional 5,184 shares in the last quarter. Finally, State Street Corp lifted its holdings in Brookfield Asset Management by 11,172.2% in the 2nd quarter. State Street Corp now owns 3,524,700 shares of the financial services provider’s stock valued at $194,845,000 after purchasing an additional 3,493,431 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $46.35 on Friday. Brookfield Asset Management Ltd. has a 12 month low of $42.20 and a 12 month high of $64.10. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.34. The company has a market cap of $75.93 billion, a P/E ratio of 30.10, a PEG ratio of 1.89 and a beta of 1.29. The firm has a fifty day moving average price of $47.00 and a 200 day moving average price of $47.87.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%. Sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.76 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 Tuesday, June 30th. Investors of record on Friday, May 29th were paid a dividend of $0.5025 per share. The ex-dividend date was Friday, May 29th. This represents a $2.01 annualized dividend and a yield of 4.3%. Brookfield Asset Management’s payout ratio is presently 130.52%.

Analyst Ratings Changes

Several brokerages have recently weighed in on BAM. Wall Street Zen cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Piper Sandler reiterated a “neutral” rating and issued a $50.00 price objective (up from $48.00) on shares of Brookfield Asset Management in a report on Monday, May 18th. JPMorgan Chase & Co. reduced their price target on shares of Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. Royal Bank Of Canada decreased their target price on Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating on the stock in a research note on Monday, May 11th. Finally, The Goldman Sachs Group dropped their price objective on shares of Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $60.03.

About Brookfield Asset Management

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.