Round Rock Advisors LLC Invests $244,000 in Brookfield Asset Management Ltd. (NYSE:BAM)

Round Rock Advisors LLC acquired a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 5,153 shares of the financial services provider’s stock, valued at approximately $244,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. National Bank of Canada FI increased its position in shares of Brookfield Asset Management by 15.5% during 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 buying an additional 107,245 shares during the period. Confluence Investment Management LLC grew its position in shares of Brookfield Asset Management by 382.6% during the 2nd quarter. Confluence Investment Management LLC now owns 89,891 shares of the financial services provider’s stock valued at $3,420,000 after purchasing an additional 71,263 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new position in shares of Brookfield Asset Management in the first quarter worth $3,014,000. Intact Investment Management Inc. bought a new position in shares of Brookfield Asset Management in the second quarter worth $4,825,000. Finally, Pitcairn Co. purchased a new stake in shares of Brookfield Asset Management in the first quarter worth $525,000. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analyst Ratings Changes

BAM has been the topic of a number of research analyst reports. StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lowered their target price 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. The Goldman Sachs Group boosted their price target on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Royal Bank of Canada raised their price objective on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Jefferies Financial Group started coverage on shares of Brookfield Asset Management in a research report on Friday, August 2nd. They issued a “hold” rating and a $43.00 target price for the company. Three investment 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $52.29.

Brookfield Asset Management Price Performance

BAM opened at $56.39 on Friday. The stock’s 50 day simple moving average is $48.39 and its 200 day simple moving average is $42.76. The firm has a market cap of $25.05 billion, a price-to-earnings ratio of 49.90, a PEG ratio of 2.58 and a beta of 1.42. Brookfield Asset Management Ltd. has a 1 year low of $30.68 and a 1 year high of $57.48.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued 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. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the firm earned $0.35 earnings per share. As a group, sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.43 EPS for the current year.

Brookfield Asset Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a dividend of $0.38 per share. 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 2.70%. Brookfield Asset Management’s dividend payout ratio is currently 134.51%.

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.