76,963 Shares in Brookfield Asset Management Ltd. $BAM Bought by Nykredit A S

Nykredit A S acquired a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the 2nd quarter, Holdings Channel reports. The fund acquired 76,963 shares of the financial services provider’s stock, valued at approximately $3,451,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Trust Co. of Vermont acquired a new position in Brookfield Asset Management during the second quarter worth about $25,000. Zions Bancorporation National Association UT lifted its holdings in shares of Brookfield Asset Management by 241.3% in the fourth quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 345 shares during the last quarter. Allied Private Wealth LLC acquired a new stake in shares of Brookfield Asset Management in the 2nd quarter valued at approximately $40,000. Allworth Financial LP boosted its stake in shares of Brookfield Asset Management by 47.8% in the 4th quarter. Allworth Financial LP now owns 1,029 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 333 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Brookfield Asset Management by 709.8% during the 4th quarter. Fifth Third Bancorp now owns 1,069 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 937 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on BAM. Scotiabank reiterated an “outperform” rating and set a $59.00 price objective on shares of Brookfield Asset Management in a research report on Thursday, August 6th. UBS Group raised their target price on shares of Brookfield Asset Management from $48.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Scotia boosted their target price on shares of 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. Canadian Imperial Bank of Commerce set a $62.50 price target on shares of Brookfield Asset Management in a report on Monday, May 11th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Brookfield Asset Management in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Brookfield Asset Management currently has a consensus rating of “Hold” and an average target price of $58.65.

Brookfield Asset Management Stock Down 0.1%

Shares of NYSE BAM opened at $50.57 on Monday. The company has a 50 day simple moving average of $49.56 and a 200 day simple moving average of $47.79. The firm has a market cap of $82.84 billion, a PE ratio of 29.40, a price-to-earnings-growth ratio of 2.07 and a beta of 1.27. Brookfield Asset Management Ltd. has a 1 year low of $42.20 and a 1 year high of $62.57. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. Brookfield Asset Management had a net margin of 48.89% and a return on equity of 31.50%. The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.47 billion. On average, research analysts forecast that Brookfield Asset Management Ltd. will post 1.77 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.5025 per share. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Monday, August 31st. Brookfield Asset Management’s payout ratio is 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.