Avior Wealth Management LLC Boosts Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Avior Wealth Management LLC lifted its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 2,857.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,350 shares of the financial services provider's stock after acquiring an additional 10,000 shares during the period. Avior Wealth Management LLC's holdings in Brookfield Asset Management were worth $489,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. TD Asset Management Inc lifted its stake in Brookfield Asset Management by 8.5% during the second quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider's stock worth $515,823,000 after purchasing an additional 1,066,015 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of Brookfield Asset Management by 19.5% in the second quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider's stock worth $514,867,000 after buying an additional 2,205,040 shares during the period. Vanguard Group Inc. increased its holdings in shares of Brookfield Asset Management by 1.8% in the first quarter. Vanguard Group Inc. now owns 10,760,414 shares of the financial services provider's stock worth $452,153,000 after buying an additional 186,765 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Brookfield Asset Management by 0.3% in the third 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 during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Brookfield Asset Management by 68.5% in the second 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 during the period. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Stock Down 0.2 %

BAM traded down $0.12 during mid-day trading on Friday, reaching $55.45. 1,036,222 shares of the company traded hands, compared to its average volume of 1,259,440. The stock has a market capitalization of $24.56 billion, a P/E ratio of 49.07, a P/E/G ratio of 2.29 and a beta of 1.42. The company's fifty day moving average price is $51.14 and its 200-day moving average price is $43.93. Brookfield Asset Management Ltd. has a 52-week low of $33.45 and a 52-week high of $58.53.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced 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 during the quarter, compared to analyst estimates 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 period in the previous year, the business earned $0.35 EPS. As a group, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a yield of 2.74%. Brookfield Asset Management's payout ratio is presently 134.51%.

Wall Street Analyst Weigh In

Several research firms have recently commented on BAM. Deutsche Bank Aktiengesellschaft lifted their price objective on Brookfield Asset Management from $56.00 to $59.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Scotiabank boosted their price target on Brookfield Asset Management from $55.50 to $59.50 and gave the company a "sector outperform" rating in a report on Tuesday, November 5th. StockNews.com upgraded Brookfield Asset Management from a "sell" rating to a "hold" rating in a report on Thursday. Keefe, Bruyette & Woods boosted their price target on Brookfield Asset Management from $44.00 to $49.00 and gave the company an "underperform" rating in a report on Tuesday, November 5th. Finally, Wells Fargo & Company upped their target price on Brookfield Asset Management from $48.00 to $51.00 and gave the stock an "underweight" rating in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus 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.