Arkadios Wealth Advisors Makes New Investment in Brookfield Asset Management Ltd. $BAM

Arkadios Wealth Advisors acquired a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,073 shares of the financial services provider’s stock, valued at approximately $225,000.

Several other institutional investors and hedge funds have also modified their holdings of BAM. M&T Bank Corp raised its position in Brookfield Asset Management by 53.1% in the 1st quarter. M&T Bank Corp now owns 37,473 shares of the financial services provider’s stock valued at $1,815,000 after purchasing an additional 12,996 shares during the last quarter. Bridges Investment Management Inc. increased its stake in shares of Brookfield Asset Management by 5.0% in the first quarter. Bridges Investment Management Inc. now owns 13,057 shares of the financial services provider’s stock valued at $633,000 after buying an additional 618 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Brookfield Asset Management by 36.6% in the first quarter. Cerity Partners LLC now owns 29,482 shares of the financial services provider’s stock valued at $1,428,000 after buying an additional 7,901 shares during the last quarter. Diversify Wealth Management LLC lifted its position in Brookfield Asset Management by 15.5% during the 1st quarter. Diversify Wealth Management LLC now owns 19,862 shares of the financial services provider’s stock worth $1,069,000 after buying an additional 2,669 shares in the last quarter. Finally, Signaturefd LLC lifted its position in Brookfield Asset Management by 83.3% during the 1st quarter. Signaturefd LLC now owns 4,209 shares of the financial services provider’s stock worth $204,000 after buying an additional 1,913 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BAM. BMO Capital Markets upped their target price 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. Scotiabank lifted their target price on Brookfield Asset Management from $66.00 to $67.25 and gave the company a “sector outperform” rating in a research note on Thursday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $58.00 price target on shares of Brookfield Asset Management in a research note on Thursday, August 7th. Morgan Stanley set a $62.00 price objective on Brookfield Asset Management in a research report on Monday, October 13th. Finally, Royal Bank Of Canada upped their target price on shares of Brookfield Asset Management from $74.00 to $76.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Two 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $64.14.

Brookfield Asset Management Trading Down 1.2%

NYSE BAM opened at $53.32 on Friday. Brookfield Asset Management Ltd. has a 12 month low of $41.78 and a 12 month high of $64.10. The stock has a 50-day simple moving average of $56.82 and a 200 day simple moving average of $57.27. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $87.32 billion, a PE ratio of 35.78, a P/E/G ratio of 2.04 and a beta of 1.38.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.29 billion. Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%. Research analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

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.