Brookfield Asset Management Ltd. (NYSE:BAM) Shares Acquired by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. boosted its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 273,162 shares of the financial services provider’s stock after buying an additional 4,042 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Brookfield Asset Management were worth $12,916,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. TD Asset Management Inc lifted its stake in Brookfield Asset Management by 8.5% in 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 in the last quarter. Mackenzie Financial Corp lifted its position in Brookfield Asset Management by 19.5% during 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. Bank of Montreal Can raised its holdings in shares of Brookfield Asset Management by 0.5% during the 3rd quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider’s stock valued at $435,729,000 after buying an additional 43,134 shares during the period. Principal Financial Group Inc. grew its position in Brookfield Asset Management by 0.3% in the third quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock valued at $419,400,000 after acquiring an additional 24,409 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Brookfield Asset Management by 68.5% in the second 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 during the period. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company boosted their price target on Brookfield Asset Management from $48.00 to $51.00 and gave the company an “underweight” rating in a report on Tuesday, November 5th. BMO Capital Markets lifted their price target on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their target price on Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a report on Monday, November 11th. Scotiabank raised their price target on Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group upped their price objective 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 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $53.46.

Brookfield Asset Management Price Performance

NYSE:BAM traded down $0.55 during mid-day trading on Thursday, reaching $57.26. The stock had a trading volume of 665,753 shares, compared to its average volume of 1,255,638. The stock has a market cap of $25.36 billion, a P/E ratio of 50.67, a PEG ratio of 2.31 and a beta of 1.42. The business’s 50 day moving average is $51.84 and its 200 day moving average is $44.33. Brookfield Asset Management Ltd. has a fifty-two week low of $33.45 and a fifty-two week high of $58.53.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same quarter in the previous year, the business earned $0.35 EPS. Equities analysts expect that Brookfield Asset Management Ltd. will post 1.47 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 annualized dividend and a yield of 2.65%. Brookfield Asset Management’s payout ratio is 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.