Moors & Cabot Inc. Grows Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Moors & Cabot Inc. grew its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 4.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,983 shares of the financial services provider’s stock after acquiring an additional 420 shares during the quarter. Moors & Cabot Inc.’s holdings in Brookfield Asset Management were worth $425,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BAM. The Manufacturers Life Insurance Company increased its holdings in Brookfield Asset Management by 68.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock valued at $260,770,000 after purchasing an additional 2,788,611 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Brookfield Asset Management by 19.5% in the second quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock worth $514,867,000 after buying an additional 2,205,040 shares during the period. Dimensional Fund Advisors LP acquired a new stake in shares of Brookfield Asset Management in the second quarter valued at about $42,160,000. TD Asset Management Inc raised its holdings in shares of Brookfield Asset Management by 8.5% during the 2nd quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock valued at $515,823,000 after buying an additional 1,066,015 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Brookfield Asset Management by 66.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock worth $92,896,000 after acquiring an additional 784,250 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Down 0.2 %

Shares of NYSE BAM opened at $55.47 on Friday. The stock’s 50 day moving average price is $51.14 and its two-hundred day moving average price is $43.96. Brookfield Asset Management Ltd. has a 52-week low of $33.45 and a 52-week high of $58.53. The stock has a market capitalization of $24.57 billion, a P/E ratio of 49.09, a PEG ratio of 2.28 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.19 billion. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. During the same period in the prior year, the company posted $0.35 EPS. On average, analysts anticipate that Brookfield Asset Management Ltd. will post 1.47 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a $0.38 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.74%. Brookfield Asset Management’s payout ratio is currently 134.51%.

Analyst Upgrades and Downgrades

BAM has been the subject of several recent research reports. TD Securities increased their price objective on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. 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 note on Thursday, August 8th. Jefferies Financial Group began coverage on shares of Brookfield Asset Management in a report on Friday, August 2nd. They issued a “hold” rating and a $43.00 price objective on the stock. Keefe, Bruyette & Woods raised their target price on Brookfield Asset Management from $44.00 to $49.00 and gave the company an “underperform” rating in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group boosted their price target on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $53.46.

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.