Northwestern Mutual Wealth Management Co. Has $98,000 Position in Brookfield Asset Management Ltd. $BAM

Northwestern Mutual Wealth Management Co. increased its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 17.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,015 shares of the financial services provider’s stock after buying an additional 299 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Brookfield Asset Management were worth $98,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. ST Germain D J Co. Inc. acquired a new position in shares of Brookfield Asset Management in the first quarter valued at approximately $26,000. Rossby Financial LCC bought a new stake in Brookfield Asset Management in the first quarter valued at approximately $28,000. Larson Financial Group LLC boosted its holdings in Brookfield Asset Management by 1,079.6% in the first quarter. Larson Financial Group LLC now owns 1,097 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 1,004 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Brookfield Asset Management by 85.7% in the first quarter. Parallel Advisors LLC now owns 1,558 shares of the financial services provider’s stock valued at $75,000 after acquiring an additional 719 shares during the last quarter. Finally, Dagco Inc. bought a new stake in Brookfield Asset Management in the first quarter valued at approximately $86,000. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock opened at $58.25 on Friday. The stock has a market capitalization of $95.39 billion, a price-to-earnings ratio of 39.09, a PEG ratio of 2.15 and a beta of 1.44. Brookfield Asset Management Ltd. has a 52-week low of $40.64 and a 52-week high of $64.10. The stock’s 50 day moving average price is $59.79 and its two-hundred day moving average price is $55.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.25 and a current ratio of 1.25.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share 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 firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.29 billion. On average, equities analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th 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 3.0%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Asset Management’s dividend payout ratio is presently 117.45%.

Analyst Ratings Changes

Several brokerages recently commented on BAM. Royal Bank Of Canada began coverage on Brookfield Asset Management in a report on Wednesday, June 18th. They issued an “outperform” rating and a $72.00 target price on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $58.00 target price on shares of Brookfield Asset Management in a report on Thursday, August 7th. Piper Sandler began coverage on Brookfield Asset Management in a report on Monday, June 30th. They issued a “neutral” rating and a $60.00 target price on the stock. BMO Capital Markets upped their target price on Brookfield Asset Management from $53.00 to $56.00 and gave the company a “market perform” rating in a report on Thursday, August 7th. Finally, Scotiabank upped their target price on Brookfield Asset Management from $66.00 to $67.25 and gave the company a “sector outperform” rating 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 assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $63.52.

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.