Confluence Investment Management LLC Has $4.20 Million Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Confluence Investment Management LLC decreased its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 88,872 shares of the financial services provider’s stock after selling 1,019 shares during the quarter. Confluence Investment Management LLC’s holdings in Brookfield Asset Management were worth $4,203,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Hara Capital LLC bought a new stake in shares of Brookfield Asset Management in the third quarter valued at about $27,000. Massmutual Trust Co. FSB ADV raised its holdings in Brookfield Asset Management by 98.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 385 shares in the last quarter. Continuum Advisory LLC lifted its position in shares of Brookfield Asset Management by 57.6% during the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 285 shares during the period. Richardson Financial Services Inc. grew its holdings 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 worth $37,000 after purchasing an additional 755 shares in the last quarter. Finally, WASHINGTON TRUST Co raised its stake in Brookfield Asset Management by 151.3% in the second quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 640 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. StockNews.com lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Scotiabank boosted their price objective on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a research report on Tuesday. JPMorgan Chase & Co. cut their target price on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lifted their price target on Brookfield Asset Management from $51.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, TD Securities upped their price objective on Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Brookfield Asset Management currently has a consensus rating of “Hold” and a consensus price target of $52.29.

Brookfield Asset Management Stock Performance

Shares of NYSE BAM opened at $56.39 on Friday. The firm has a 50 day moving average price of $48.39 and a two-hundred day moving average price of $42.76. The stock has a market cap of $25.05 billion, a P/E ratio of 49.90, a price-to-earnings-growth ratio of 2.63 and a beta of 1.42. Brookfield Asset Management Ltd. has a 52-week low of $30.68 and a 52-week high of $57.48.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 91.12% and a net margin of 49.69%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the business posted $0.35 earnings per share. Analysts predict that Brookfield Asset Management Ltd. will post 1.43 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio is presently 134.51%.

About Brookfield Asset Management

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.