Private Trust Co. NA Buys 281 Shares of Brookfield Asset Management Ltd. $BAM

Private Trust Co. NA lifted its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 22.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,532 shares of the financial services provider’s stock after buying an additional 281 shares during the period. Private Trust Co. NA’s holdings in Brookfield Asset Management were worth $85,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Brookfield Asset Management by 2.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 43,002 shares of the financial services provider’s stock valued at $2,083,000 after acquiring an additional 854 shares during the last quarter. SOL Capital Management CO raised its position in Brookfield Asset Management by 62.5% during the 1st quarter. SOL Capital Management CO now owns 51,372 shares of the financial services provider’s stock worth $2,489,000 after purchasing an additional 19,756 shares during the last quarter. Gold Investment Management Ltd. lifted its holdings in Brookfield Asset Management by 9.8% during the 1st quarter. Gold Investment Management Ltd. now owns 45,979 shares of the financial services provider’s stock worth $2,227,000 after buying an additional 4,090 shares during the period. Smith Salley Wealth Management lifted its holdings in Brookfield Asset Management by 0.5% during the 1st quarter. Smith Salley Wealth Management now owns 112,292 shares of the financial services provider’s stock worth $5,441,000 after buying an additional 574 shares during the period. Finally, Rossby Financial LCC bought a new stake in shares of Brookfield Asset Management in the 1st quarter valued at about $28,000. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Price Performance

BAM opened at $53.99 on Thursday. Brookfield Asset Management Ltd. has a 1 year low of $41.78 and a 1 year high of $64.10. 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 company has a market capitalization of $88.42 billion, a price-to-earnings ratio of 36.23, a P/E/G ratio of 2.04 and a beta of 1.39. The firm’s fifty day moving average price is $58.22 and its two-hundred day moving average price is $56.63.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Wednesday, August 6th. The financial services provider reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%.The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.29 billion. As a group, analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were issued a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, August 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 117.45%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BAM shares. BMO Capital Markets increased their price objective on shares of Brookfield Asset Management from $53.00 to $56.00 and gave the stock a “market perform” rating in a research report on Thursday, August 7th. TD Securities increased their price target on Brookfield Asset Management from $66.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Weiss Ratings restated a “buy (b)” rating on shares of Brookfield Asset Management in a research report on Wednesday, October 8th. Wells Fargo & Company lifted their target price on Brookfield Asset Management from $55.00 to $57.00 and gave the stock an “underweight” rating in a report on Friday, July 11th. Finally, Scotiabank increased their price target on Brookfield Asset Management from $66.00 to $67.25 and gave the stock a “sector outperform” rating in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $64.27.

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.