Heron Bay Capital Management Makes New Investment in Brookfield Asset Management Ltd. $BAM

Heron Bay Capital Management bought a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,759 shares of the financial services provider’s stock, valued at approximately $208,000.

A number of other hedge funds have also made changes to their positions in BAM. Private Advisor Group LLC lifted its holdings in Brookfield Asset Management by 6.1% during the 1st quarter. Private Advisor Group LLC now owns 12,653 shares of the financial services provider’s stock valued at $613,000 after purchasing an additional 726 shares during the last quarter. Kestra Private Wealth Services LLC raised its stake in shares of Brookfield Asset Management by 41.9% in the first quarter. Kestra Private Wealth Services LLC now owns 6,798 shares of the financial services provider’s stock valued at $329,000 after acquiring an additional 2,006 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Brookfield Asset Management in the 1st quarter worth approximately $205,000. Cetera Investment Advisers grew its position in Brookfield Asset Management by 37.9% during the 1st quarter. Cetera Investment Advisers now owns 40,042 shares of the financial services provider’s stock worth $1,938,000 after acquiring an additional 11,008 shares during the last quarter. Finally, Mediolanum International Funds Ltd increased its holdings in Brookfield Asset Management by 167.5% during the 1st quarter. Mediolanum International Funds Ltd now owns 23,509 shares of the financial services provider’s stock valued at $1,143,000 after purchasing an additional 14,722 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Stock Up 0.6%

Shares of NYSE:BAM opened at $50.46 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market cap of $82.64 billion, a price-to-earnings ratio of 33.86, a P/E/G ratio of 2.04 and a beta of 1.38. The company has a 50 day moving average of $55.44 and a 200-day moving average of $57.23. Brookfield Asset Management Ltd. has a one year low of $41.78 and a one year high of $64.10.

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 for the quarter, beating the consensus estimate of $0.39 by $0.02. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.34 billion. On average, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be paid a dividend of $0.4375 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.5%. Brookfield Asset Management’s payout ratio is 109.38%.

Analysts Set New Price Targets

A number of equities analysts have commented on BAM shares. BMO Capital Markets boosted their price objective on Brookfield Asset Management from $53.00 to $56.00 and gave the stock a “market perform” rating in a research note on Thursday, August 7th. Royal Bank Of Canada increased their price objective on shares of Brookfield Asset Management from $74.00 to $76.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Weiss Ratings restated a “buy (b-)” rating on shares of Brookfield Asset Management in a research report on Monday. Scotiabank reduced their target price on shares of Brookfield Asset Management from $67.25 to $65.75 and set a “sector outperform” rating on the stock in a research report on Monday, November 10th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $58.00 price target on shares of Brookfield Asset Management in a report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $64.32.

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.