Bank of Nova Scotia Purchases 132,771 Shares of Brookfield Asset Management Ltd. $BAM

Bank of Nova Scotia raised its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,402,604 shares of the financial services provider’s stock after buying an additional 132,771 shares during the period. Bank of Nova Scotia owned about 0.15% of Brookfield Asset Management worth $132,921,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. LPL Financial LLC raised its stake in shares of Brookfield Asset Management by 6.1% during the first quarter. LPL Financial LLC now owns 55,354 shares of the financial services provider’s stock valued at $2,682,000 after acquiring an additional 3,173 shares during the last quarter. US Bancorp DE increased its holdings in Brookfield Asset Management by 8.9% during the 1st quarter. US Bancorp DE now owns 17,402 shares of the financial services provider’s stock valued at $843,000 after purchasing an additional 1,425 shares during the period. Vanguard Group Inc. increased its holdings in Brookfield Asset Management by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider’s stock valued at $832,833,000 after purchasing an additional 302,852 shares during the period. ASR Vermogensbeheer N.V. bought a new position in Brookfield Asset Management during the 1st quarter valued at approximately $319,000. Finally, Deutsche Bank AG lifted its holdings in Brookfield Asset Management by 11.3% in the 1st quarter. Deutsche Bank AG now owns 573,939 shares of the financial services provider’s stock worth $27,807,000 after buying an additional 58,332 shares during the period. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

Shares of NYSE BAM opened at $53.27 on Monday. The company has a 50 day simple moving average of $54.03 and a two-hundred day simple moving average of $56.83. Brookfield Asset Management Ltd. has a fifty-two week low of $41.78 and a fifty-two week high of $64.10. The company has a market capitalization of $87.24 billion, a price-to-earnings ratio of 33.29, a P/E/G ratio of 1.98 and a beta of 1.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.97 and a current ratio of 0.97.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Friday, November 7th. The financial services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Brookfield Asset Management had a return on equity of 33.77% and a net margin of 58.25%.The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th will be paid a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Asset Management’s dividend payout ratio is currently 109.38%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. National Bankshares reduced their target price on Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating on the stock in a research note on Monday, October 27th. Morgan Stanley set a $62.00 price target on shares of Brookfield Asset Management in a report on Monday, October 13th. Weiss Ratings reissued a “buy (b-)” rating on shares of Brookfield Asset Management in a research report on Monday, November 24th. Keefe, Bruyette & Woods decreased their price objective on shares of Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating for the company in a report on Monday, November 10th. Finally, Piper Sandler dropped their target price on shares of Brookfield Asset Management from $65.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Brookfield Asset Management currently has an average rating of “Moderate Buy” and a consensus price target of $64.32.

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.