Malaga Cove Capital LLC Has $397,000 Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Malaga Cove Capital LLC lowered its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,435 shares of the financial services provider’s stock after selling 359 shares during the quarter. Malaga Cove Capital LLC’s holdings in Brookfield Asset Management were worth $397,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Choreo LLC bought a new position in shares of Brookfield Asset Management in the 2nd quarter valued at approximately $239,000. Legacy Bridge LLC acquired a new stake in shares of Brookfield Asset Management in the second quarter worth $52,000. Acadian Asset Management LLC boosted its holdings in shares of Brookfield Asset Management by 5,033.8% during the 2nd quarter. Acadian Asset Management LLC now owns 7,136 shares of the financial services provider’s stock worth $270,000 after buying an additional 6,997 shares during the period. Chicago Capital LLC acquired a new position in Brookfield Asset Management in the 2nd quarter valued at $540,000. Finally, Farmers & Merchants Investments Inc. bought a new position in Brookfield Asset Management in the 2nd quarter worth $96,000. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Stock Up 3.4 %

NYSE BAM opened at $42.22 on Tuesday. Brookfield Asset Management Ltd. has a twelve month low of $28.35 and a twelve month high of $44.38. The stock has a market cap of $18.74 billion, a P/E ratio of 39.09, a PEG ratio of 2.09 and a beta of 1.57. The company’s 50-day simple moving average is $40.67 and its 200 day simple moving average is $40.19.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The company had revenue of $916.00 million during the quarter, compared to analyst estimates of $1.16 billion. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. During the same period in the previous year, the company posted $0.28 earnings per share. Research analysts anticipate that Brookfield Asset Management Ltd. will post 1.42 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.38 per share. The ex-dividend date is Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.60%. Brookfield Asset Management’s payout ratio is presently 140.74%.

Analysts Set New Price Targets

A number of research firms have recently commented on BAM. CIBC lifted their price objective on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research note on Friday, July 19th. StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Jefferies Financial Group started coverage on Brookfield Asset Management in a research report on Friday, August 2nd. They issued a “hold” rating and a $43.00 price objective for the company. Scotiabank dropped their target price on shares of Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Brookfield Asset Management has a consensus rating of “Hold” and an average price target of $42.46.

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.