PNC Financial Services Group Inc. lifted its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM – Free Report) (TSE:BAM.A) by 4.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 61,925 shares of the financial services provider’s stock after acquiring an additional 2,882 shares during the period. PNC Financial Services Group Inc.’s holdings in Brookfield Asset Management were worth $2,488,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Bfsg LLC acquired a new position in Brookfield Asset Management in the 4th quarter valued at about $51,000. Anchor Investment Management LLC acquired a new position in Brookfield Asset Management in the fourth quarter valued at approximately $119,000. EverSource Wealth Advisors LLC grew its position in Brookfield Asset Management by 87.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,680 shares of the financial services provider’s stock worth $148,000 after acquiring an additional 1,720 shares during the period. Benjamin F. Edwards & Company Inc. acquired a new stake in Brookfield Asset Management during the fourth quarter worth $202,000. Finally, Heron Bay Capital Management purchased a new stake in Brookfield Asset Management in the fourth quarter valued at $208,000. Institutional investors and hedge funds own 68.41% of the company’s stock.
Brookfield Asset Management Price Performance
BAM opened at $37.89 on Friday. The business has a fifty day moving average price of $39.11 and a 200 day moving average price of $39.69. Brookfield Asset Management Ltd. has a 12 month low of $28.35 and a 12 month high of $43.00. The stock has a market capitalization of $16.76 billion, a price-to-earnings ratio of 35.08, a PEG ratio of 1.71 and a beta of 1.67.
Brookfield Asset Management (NYSE:BAM – Get Free Report) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. The business had revenue of $884.00 million during the quarter. Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. On average, research analysts anticipate that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current year.
Brookfield Asset Management Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Friday, May 31st. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 140.74%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. initiated coverage on Brookfield Asset Management in a report on Wednesday, May 15th. They set a “neutral” rating and a $41.00 price target for the company. Royal Bank of Canada boosted their price target on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Finally, Scotiabank dropped their target price on shares of Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating for the company in a report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.14.
Get Our Latest Research Report on Brookfield Asset Management
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.
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