New York State Common Retirement Fund Invests $21.73 Million in Brookfield Asset Management Ltd. $BAM

New York State Common Retirement Fund purchased a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 393,000 shares of the financial services provider’s stock, valued at approximately $21,725,000.

Several other hedge funds have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its position in Brookfield Asset Management by 1,270.6% during the second quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 432 shares in the last quarter. Manchester Capital Management LLC increased its stake in shares of Brookfield Asset Management by 559.5% in the 2nd quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 442 shares during the last quarter. Truvestments Capital LLC raised its holdings in shares of Brookfield Asset Management by 85.5% during the 1st quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider’s stock worth $45,000 after buying an additional 432 shares in the last quarter. DHJJ Financial Advisors Ltd. lifted its position in shares of Brookfield Asset Management by 100,000.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 1,001 shares of the financial services provider’s stock worth $55,000 after buying an additional 1,000 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in shares of Brookfield Asset Management by 127.7% in the second quarter. First Horizon Advisors Inc. now owns 995 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 558 shares during the period. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Stock Down 1.7%

Brookfield Asset Management stock opened at $51.82 on Tuesday. The firm has a market capitalization of $84.88 billion, a price-to-earnings ratio of 34.78, a price-to-earnings-growth ratio of 2.04 and a beta of 1.38. The firm’s fifty day moving average price is $54.53 and its two-hundred day moving average price is $57.00. Brookfield Asset Management Ltd. has a 1-year low of $41.78 and a 1-year high of $64.10. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.14.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Friday, November 7th. The financial services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.34 billion. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. On average, equities research analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 109.38%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Scotiabank lowered their price target on shares of Brookfield Asset Management from $67.25 to $65.75 and set a “sector outperform” rating for the company in a report on Monday, November 10th. Wall Street Zen downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Royal Bank Of Canada upped their target price on Brookfield Asset Management from $74.00 to $76.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. National Bankshares lowered their price objective on shares of Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating for the company in a research note on Monday, October 27th. Finally, Bank of America lowered shares of Brookfield Asset Management from a “buy” rating to a “neutral” rating and set a $68.00 price objective on the stock. in a report on Thursday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Brookfield Asset Management has an average rating of “Moderate Buy” and an average price target of $64.32.

Brookfield Asset Management Company Profile

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.