BTG Pactual Asset Management US LLC Buys Shares of 11,373 Brookfield Asset Management Ltd. $BAM

BTG Pactual Asset Management US LLC bought a new position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 11,373 shares of the financial services provider’s stock, valued at approximately $510,000.

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

Brookfield Asset Management Price Performance

Shares of NYSE:BAM opened at $51.50 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $84.37 billion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 2.13 and a beta of 1.26. The firm’s 50 day moving average price is $49.18 and its 200-day moving average price is $47.85. Brookfield Asset Management Ltd. has a twelve month low of $42.20 and a twelve month high of $62.57.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.47 billion. Equities research analysts expect that Brookfield Asset Management Ltd. will post 1.78 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a dividend of $0.5025 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $2.01 dividend on an annualized basis and a dividend yield of 3.9%. Brookfield Asset Management’s payout ratio is presently 116.86%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Wall Street Zen upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Scotiabank restated 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 stock a “neutral” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. cut their target price on shares of Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. Finally, Piper Sandler reiterated a “neutral” rating and set a $50.00 target price (up from $48.00) on shares of Brookfield Asset Management in a research note on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $59.32.

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.