Whittier Trust Co. of Nevada Inc. Buys 1,282 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Whittier Trust Co. of Nevada Inc. raised its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 144.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,172 shares of the financial services provider’s stock after buying an additional 1,282 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Brookfield Asset Management were worth $83,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Whittier Trust Co. increased its holdings in shares of Brookfield Asset Management by 6.4% in the 2nd quarter. Whittier Trust Co. now owns 23,795 shares of the financial services provider’s stock worth $905,000 after buying an additional 1,438 shares during the last quarter. HB Wealth Management LLC bought a new position in shares of Brookfield Asset Management in the 2nd quarter worth $219,000. Lester Murray Antman dba SimplyRich increased its holdings in shares of Brookfield Asset Management by 12.9% in the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 6,649 shares of the financial services provider’s stock worth $252,000 after buying an additional 760 shares during the last quarter. West Bancorporation Inc. bought a new position in shares of Brookfield Asset Management during the 2nd quarter valued at $4,464,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Brookfield Asset Management by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 638,570 shares of the financial services provider’s stock valued at $24,298,000 after purchasing an additional 5,368 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

BAM has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft increased their target price 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. Scotiabank dropped their target price on shares of Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating for the company in a research report on Thursday, August 8th. CIBC raised their target price on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research report on Friday, July 19th. TD Securities raised their target price on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $42.46.

Brookfield Asset Management Trading Up 0.8 %

Shares of NYSE BAM traded up $0.31 during mid-day trading on Thursday, reaching $41.42. The company had a trading volume of 290,882 shares, compared to its average volume of 1,298,882. The business’s 50-day moving average is $40.14 and its 200-day moving average is $40.17. The stock has a market cap of $18.38 billion, a price-to-earnings ratio of 37.96, a price-to-earnings-growth ratio of 1.95 and a beta of 1.57. Brookfield Asset Management Ltd. has a 52 week low of $28.35 and a 52 week high of $44.38.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.34 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 the consensus estimate of $1.16 billion. Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. During the same quarter in the previous year, the company posted $0.28 earnings per share. As a group, equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Asset Management’s payout ratio is presently 140.74%.

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.