Marks Group Wealth Management Inc Has $8.12 Million Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Marks Group Wealth Management Inc boosted its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.9% during the third quarter, HoldingsChannel reports. The fund owned 171,680 shares of the financial services provider’s stock after purchasing an additional 6,421 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Brookfield Asset Management were worth $8,119,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BAM. National Bank of Canada FI increased its holdings in Brookfield Asset Management by 15.5% in the first quarter. National Bank of Canada FI now owns 801,163 shares of the financial services provider’s stock valued at $31,742,000 after purchasing an additional 107,245 shares during the period. Confluence Investment Management LLC raised its position in shares of Brookfield Asset Management by 382.6% during the second quarter. Confluence Investment Management LLC now owns 89,891 shares of the financial services provider’s stock worth $3,420,000 after acquiring an additional 71,263 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of Brookfield Asset Management in the first quarter worth approximately $3,014,000. Intact Investment Management Inc. bought a new stake in Brookfield Asset Management in the second quarter valued at approximately $4,825,000. Finally, Pitcairn Co. acquired a new stake in Brookfield Asset Management during the 1st quarter valued at approximately $525,000. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target 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. TD Securities boosted their target price on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday. Jefferies Financial Group initiated coverage on Brookfield Asset Management in a report on Friday, August 2nd. They set a “hold” rating and a $43.00 price target for the company. Scotiabank lifted their price objective on Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a research report on Tuesday. Finally, Royal Bank of Canada raised their target price on Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday. 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 company. Based on data from MarketBeat.com, Brookfield Asset Management has an average rating of “Hold” and a consensus price target of $52.29.

Brookfield Asset Management Trading Up 1.4 %

Shares of BAM stock opened at $55.56 on Wednesday. The firm has a fifty day simple moving average of $47.46 and a two-hundred day simple moving average of $42.45. Brookfield Asset Management Ltd. has a 12 month low of $30.59 and a 12 month high of $57.36. The firm has a market capitalization of $24.68 billion, a PE ratio of 49.17, a price-to-earnings-growth ratio of 2.55 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the firm posted $0.35 earnings per share. On average, equities analysts predict that Brookfield Asset Management Ltd. will post 1.43 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

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.