Sei Investments Co. Purchases Shares of 101,115 Brookfield Asset Management Ltd. (NYSE:BAM)

Sei Investments Co. bought a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 101,115 shares of the financial services provider's stock, valued at approximately $3,847,000.

Other large investors have also added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado bought a new stake in Brookfield Asset Management in the 2nd quarter worth approximately $99,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Brookfield Asset Management by 8.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 8,133 shares of the financial services provider's stock worth $310,000 after buying an additional 628 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Brookfield Asset Management in the 2nd quarter worth about $240,000. Richardson Financial Services Inc. raised its position in shares of Brookfield Asset Management by 368.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider's stock valued at $37,000 after buying an additional 755 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its position in Brookfield Asset Management by 24.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 18,027 shares of the financial services provider's stock worth $661,000 after acquiring an additional 3,489 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on BAM. Jefferies Financial Group initiated coverage on Brookfield Asset Management in a research report on Friday, August 2nd. They set a "hold" rating and a $43.00 price objective on the stock. BMO Capital Markets raised their price target on Brookfield Asset Management from $37.00 to $40.00 and gave the stock a "market perform" rating in a research report on Wednesday, September 11th. JPMorgan Chase & Co. cut their price objective on shares of Brookfield Asset Management from $42.00 to $41.00 and set a "neutral" rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company began coverage on shares of Brookfield Asset Management in a report on Thursday, September 12th. They issued an "underweight" rating and a $42.00 target price for the company. Finally, The Goldman Sachs Group upped their price target on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the company a "buy" rating in a report on Monday. Three research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $44.19.

Brookfield Asset Management Price Performance

Shares of BAM stock traded down $0.35 during mid-day trading on Thursday, hitting $47.41. The stock had a trading volume of 532,344 shares, compared to its average volume of 1,290,252. Brookfield Asset Management Ltd. has a 12-month low of $28.35 and a 12-month high of $48.15. The firm's 50-day moving average is $42.82 and its two-hundred day moving average is $40.80. The firm has a market capitalization of $21.04 billion, a P/E ratio of 43.89, a price-to-earnings-growth ratio of 2.36 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings data on Friday, August 9th. The financial services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). The firm had revenue of $916.00 million during the quarter, compared to the consensus estimate of $1.16 billion. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. During the same quarter in the previous year, the firm earned $0.28 earnings per share. Analysts expect that Brookfield Asset Management Ltd. will post 1.42 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a yield of 3.21%. Brookfield Asset Management's dividend payout ratio is currently 140.74%.

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.