Janney Montgomery Scott LLC Raises Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Janney Montgomery Scott LLC grew its holdings in Brookfield Asset Management Ltd. (NYSE:BAMFree Report) (TSE:BAM.A) by 2.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 194,158 shares of the financial services provider’s stock after buying an additional 4,820 shares during the period. Janney Montgomery Scott LLC’s holdings in Brookfield Asset Management were worth $8,159,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in BAM. YHB Investment Advisors Inc. purchased a new stake in Brookfield Asset Management during the 1st quarter valued at approximately $26,000. Bfsg LLC acquired a new position in shares of Brookfield Asset Management in the fourth quarter valued at approximately $51,000. UMB Bank n.a. raised its stake in shares of Brookfield Asset Management by 78.9% during the first quarter. UMB Bank n.a. now owns 1,934 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 853 shares during the last quarter. GoalVest Advisory LLC acquired a new stake in shares of Brookfield Asset Management during the first quarter worth $100,000. Finally, Anchor Investment Management LLC purchased a new position in Brookfield Asset Management in the 4th quarter valued at $119,000. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BAM. Scotiabank cut their price objective on shares of Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating for the company in a research report on Thursday, May 9th. JPMorgan Chase & Co. started coverage on shares of Brookfield Asset Management in a research report on Wednesday, May 15th. They issued a “neutral” rating and a $41.00 price objective for the company. Finally, Royal Bank of Canada boosted their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.14.

View Our Latest Report on BAM

Brookfield Asset Management Price Performance

BAM opened at $38.15 on Tuesday. The stock’s 50 day simple moving average is $38.92 and its 200 day simple moving average is $39.82. The stock has a market cap of $16.93 billion, a P/E ratio of 35.32, a P/E/G ratio of 1.74 and a beta of 1.62. Brookfield Asset Management Ltd. has a 1-year low of $28.35 and a 1-year high of $43.00.

Brookfield Asset Management (NYSE:BAMGet Free Report) (TSE:BAM.A) last posted its earnings results on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.01. The company had revenue of $884.00 million for the quarter. Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. Research analysts expect that Brookfield Asset Management Ltd. will post 1.47 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were issued a dividend of $0.38 per share. The ex-dividend date was Friday, May 31st. This represents a $1.52 annualized dividend and a yield of 3.98%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 140.74%.

About Brookfield Asset Management

(Free Report)

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.

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Institutional Ownership by Quarter for Brookfield Asset Management (NYSE:BAM)

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