Brookfield Asset Management Ltd. (NYSE:BAM) Shares Acquired by US Bancorp DE

US Bancorp DE increased its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,004 shares of the financial services provider’s stock after acquiring an additional 736 shares during the quarter. US Bancorp DE’s holdings in Brookfield Asset Management were worth $710,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV lifted its stake in Brookfield Asset Management by 98.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 385 shares in the last quarter. Continuum Advisory LLC lifted its position in Brookfield Asset Management by 57.6% during the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after buying an additional 285 shares in the last quarter. Richardson Financial Services Inc. boosted its stake in Brookfield Asset Management by 368.3% during the second quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock worth $37,000 after buying an additional 755 shares during the last quarter. WASHINGTON TRUST Co boosted its stake in Brookfield Asset Management by 151.3% during the second quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock worth $40,000 after buying an additional 640 shares during the last quarter. Finally, Legacy Bridge LLC purchased a new stake in Brookfield Asset Management in the 2nd quarter valued at $52,000. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analysts Set New Price Targets

BAM has been the topic of several analyst reports. CIBC lifted their price target on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a report on Friday, July 19th. Jefferies Financial Group started coverage on shares of Brookfield Asset Management in a report on Friday, August 2nd. They issued a “hold” rating and a $43.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Brookfield Asset Management from $51.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. decreased their price objective on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $52.29.

Brookfield Asset Management Trading Up 0.8 %

BAM stock opened at $56.39 on Friday. The business’s fifty day moving average price is $48.39 and its 200 day moving average price is $42.76. Brookfield Asset Management Ltd. has a 12-month low of $30.68 and a 12-month high of $57.48. The company has a market capitalization of $25.05 billion, a PE ratio of 49.90, a P/E/G ratio of 2.58 and a beta of 1.42.

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, beating the consensus estimate of $0.36 by $0.02. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate 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 previous year, the company posted $0.35 EPS. Research analysts predict that Brookfield Asset Management Ltd. will post 1.43 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.70%. The ex-dividend date is Friday, November 29th. Brookfield Asset Management’s 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.