Brookfield Asset Management Ltd. (NYSE:BAM) Shares Acquired by Bank of Montreal Can

Bank of Montreal Can increased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.5% in the third quarter, Holdings Channel.com reports. The firm owned 9,236,374 shares of the financial services provider’s stock after purchasing an additional 43,134 shares during the period. Bank of Montreal Can’s holdings in Brookfield Asset Management were worth $435,729,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. CWM LLC increased its stake in shares of Brookfield Asset Management by 12.2% in the second quarter. CWM LLC now owns 2,448 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 267 shares during the period. Pathstone Holdings LLC increased its position in Brookfield Asset Management by 1.0% in the 3rd quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock valued at $1,379,000 after acquiring an additional 278 shares during the period. Continuum Advisory LLC grew its stake in shares of Brookfield Asset Management by 57.6% in the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 285 shares in the last quarter. Foundations Investment Advisors LLC grew its position in Brookfield Asset Management by 5.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 6,654 shares of the financial services provider’s stock valued at $315,000 after buying an additional 315 shares in the last quarter. Finally, Adalta Capital Management LLC increased its stake in shares of Brookfield Asset Management by 0.8% during the first quarter. Adalta Capital Management LLC now owns 43,494 shares of the financial services provider’s stock valued at $1,828,000 after acquiring an additional 366 shares during the period. 68.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BAM shares. TD Securities raised 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. Bank of America upped their target price on Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Royal Bank of Canada raised their price objective on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group upped their target price on Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, 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, November 5th. Two equities research 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. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $53.46.

Brookfield Asset Management Stock Performance

Shares of BAM traded up $0.71 during trading hours on Monday, reaching $56.18. 117,967 shares of the company traded hands, compared to its average volume of 1,254,434. The stock’s fifty day moving average is $51.14 and its 200 day moving average is $44.00. The stock has a market cap of $24.88 billion, a P/E ratio of 49.09, a price-to-earnings-growth ratio of 2.28 and a beta of 1.42. Brookfield Asset Management Ltd. has a 1-year low of $33.45 and a 1-year high of $58.53.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results 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. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations 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 firm posted $0.35 earnings per share. On average, equities research analysts predict that Brookfield Asset Management Ltd. will post 1.47 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed 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. This represents a $1.52 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management’s payout ratio is 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.