Bamco Inc. NY Increases Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Bamco Inc. NY boosted its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 31.5% during the 3rd quarter, Holdings Channel reports. The fund owned 1,100,435 shares of the financial services provider’s stock after acquiring an additional 263,532 shares during the quarter. Bamco Inc. NY’s holdings in Brookfield Asset Management were worth $52,040,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BAM. Public Sector Pension Investment Board grew its stake in shares of Brookfield Asset Management by 0.4% during the third quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider’s stock worth $2,201,000 after purchasing an additional 188 shares in the last quarter. CWM LLC increased its holdings in shares of Brookfield Asset Management by 12.2% in the 2nd quarter. CWM LLC now owns 2,448 shares of the financial services provider’s stock valued at $93,000 after acquiring an additional 267 shares during the last quarter. Pathstone Holdings LLC increased its holdings in shares of 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 last quarter. Continuum Advisory LLC raised 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 worth $30,000 after acquiring an additional 285 shares in the last quarter. Finally, Foundations Investment Advisors LLC boosted its holdings in Brookfield Asset Management by 5.0% in the third quarter. Foundations Investment Advisors LLC now owns 6,654 shares of the financial services provider’s stock valued at $315,000 after purchasing an additional 315 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BAM. StockNews.com raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. Keefe, Bruyette & Woods boosted their price target on shares of Brookfield Asset Management from $44.00 to $49.00 and gave the company an “underperform” rating in a research report on Tuesday, November 5th. TD Securities raised their price objective on Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Wells Fargo & Company lifted their target price on Brookfield Asset Management from $48.00 to $51.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. decreased their target price on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $53.46.

Brookfield Asset Management Price Performance

NYSE:BAM opened at $57.07 on Tuesday. The firm has a market cap of $23.95 billion, a price-to-earnings ratio of 50.50, a price-to-earnings-growth ratio of 2.35 and a beta of 1.42. The firm’s fifty day moving average price is $52.23 and its 200 day moving average price is $44.60. Brookfield Asset Management Ltd. has a 1-year low of $34.94 and a 1-year 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 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the business earned $0.35 EPS. As a group, analysts expect that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current fiscal 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 issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend 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.