Benjamin Edwards Inc. Invests $602,000 in Brookfield Asset Management Ltd. (NYSE:BAM)

Benjamin Edwards Inc. bought a new position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 12,720 shares of the financial services provider's stock, valued at approximately $602,000.

Several other large investors have also added to or reduced their stakes in BAM. TD Asset Management Inc grew its stake in shares of Brookfield Asset Management by 8.5% in the 2nd quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider's stock worth $515,823,000 after acquiring an additional 1,066,015 shares in the last quarter. Mackenzie Financial Corp grew its position in Brookfield Asset Management by 19.5% in the 2nd quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider's stock worth $514,867,000 after purchasing an additional 2,205,040 shares in the last quarter. Bank of Montreal Can increased its stake in Brookfield Asset Management by 0.5% in the 3rd quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider's stock valued at $435,729,000 after buying an additional 43,134 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Brookfield Asset Management by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider's stock worth $419,400,000 after buying an additional 24,409 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Brookfield Asset Management by 68.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider's stock worth $260,770,000 after buying an additional 2,788,611 shares in the last quarter. Institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Stock Down 0.4 %

Shares of NYSE:BAM traded down $0.24 during midday trading on Friday, reaching $57.55. 591,459 shares of the company traded hands, compared to its average volume of 860,143. The firm's fifty day moving average price is $53.27 and its two-hundred day moving average price is $45.21. The firm has a market capitalization of $24.15 billion, a price-to-earnings ratio of 50.93, a price-to-earnings-growth ratio of 2.36 and a beta of 1.41. Brookfield Asset Management Ltd. has a 12 month low of $35.46 and a 12 month high of $58.53.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $1.19 billion. During the same period last year, the business earned $0.35 earnings per share. Analysts forecast that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a $0.38 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.64%. Brookfield Asset Management's dividend payout ratio (DPR) is presently 134.51%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Bank of America increased their price target on Brookfield Asset Management from $41.00 to $45.00 and gave the company a "neutral" rating in a research report on Thursday, September 12th. Scotiabank raised their target price on 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. Wells Fargo & Company boosted their price target on shares of Brookfield Asset Management from $48.00 to $51.00 and gave the stock an "underweight" rating in a report on Tuesday, November 5th. StockNews.com upgraded shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a report on Thursday, November 21st. Finally, The Goldman Sachs Group boosted their target price on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a "buy" rating in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $53.46.

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.