Janney Montgomery Scott LLC Boosts Stake in Brookfield Asset Management Ltd. $BAM

Janney Montgomery Scott LLC lifted its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 225,860 shares of the financial services provider’s stock after acquiring an additional 4,638 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Brookfield Asset Management were worth $12,486,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Smith Salley Wealth Management lifted its stake in Brookfield Asset Management by 3.5% in the 2nd quarter. Smith Salley Wealth Management now owns 116,233 shares of the financial services provider’s stock valued at $6,425,000 after buying an additional 3,941 shares in the last quarter. Avior Wealth Management LLC lifted its stake in Brookfield Asset Management by 2,106.9% in the 2nd quarter. Avior Wealth Management LLC now owns 7,724 shares of the financial services provider’s stock valued at $427,000 after buying an additional 7,374 shares in the last quarter. Signaturefd LLC lifted its stake in Brookfield Asset Management by 57.9% in the 2nd quarter. Signaturefd LLC now owns 6,647 shares of the financial services provider’s stock valued at $367,000 after buying an additional 2,438 shares in the last quarter. Rezny Wealth Management Inc. purchased a new position in Brookfield Asset Management in the 2nd quarter valued at about $2,122,000. Finally, Kirr Marbach & Co. LLC IN raised its holdings in Brookfield Asset Management by 0.7% in the 2nd quarter. Kirr Marbach & Co. LLC IN now owns 35,649 shares of the financial services provider’s stock valued at $1,971,000 after acquiring an additional 249 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on BAM. TD Securities increased their price objective on shares of Brookfield Asset Management from $66.00 to $75.00 and gave the company a “buy” rating in a report on Monday, July 28th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $58.00 price objective on shares of Brookfield Asset Management in a report on Thursday, August 7th. Royal Bank Of Canada began coverage on shares of Brookfield Asset Management in a report on Wednesday, June 18th. They set an “outperform” rating and a $72.00 price target for the company. Wells Fargo & Company raised their price target on shares of Brookfield Asset Management from $55.00 to $57.00 and gave the stock an “underweight” rating in a report on Friday, July 11th. Finally, BMO Capital Markets raised their price target on shares of Brookfield Asset Management from $53.00 to $56.00 and gave the stock a “market perform” rating in a report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Brookfield Asset Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.52.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $57.83 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. Brookfield Asset Management Ltd. has a 52 week low of $41.78 and a 52 week high of $64.10. The stock has a market capitalization of $94.70 billion, a PE ratio of 38.81, a P/E/G ratio of 2.07 and a beta of 1.39. The firm has a 50 day moving average of $59.72 and a two-hundred day moving average of $56.03.

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

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were given a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, August 29th. Brookfield Asset Management’s payout ratio is 117.45%.

Brookfield Asset Management 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.