BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $5.67 Million Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 92.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 119,911 shares of the financial services provider's stock after selling 1,533,857 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Brookfield Asset Management were worth $5,666,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in BAM. Hara Capital LLC acquired a new position in shares of Brookfield Asset Management during the third quarter valued at $27,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Brookfield Asset Management in the third quarter worth about $27,000. Continuum Advisory LLC increased its holdings in shares of Brookfield Asset Management by 57.6% in the second 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. Massmutual Trust Co. FSB ADV increased its holdings in shares of Brookfield Asset Management by 98.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider's stock worth $30,000 after acquiring an additional 385 shares in the last quarter. Finally, Richardson Financial Services Inc. increased its holdings in shares of Brookfield Asset Management by 368.3% in the second quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider's stock worth $37,000 after acquiring an additional 755 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company's stock.

Wall Street Analysts Forecast Growth

BAM has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on Brookfield Asset Management from $56.00 to $59.00 and gave the stock a "buy" rating in a report on Monday, November 11th. JPMorgan Chase & Co. decreased their price objective on Brookfield Asset Management from $42.00 to $41.00 and set a "neutral" rating for the company in a report on Thursday, August 8th. Keefe, Bruyette & Woods increased their price objective on Brookfield Asset Management from $44.00 to $49.00 and gave the stock an "underperform" rating in a report on Tuesday, November 5th. Bank of America increased their price objective on Brookfield Asset Management from $41.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, September 12th. Finally, TD Securities increased 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. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $53.46.

Brookfield Asset Management Stock Performance

NYSE BAM traded up $0.25 during trading hours on Tuesday, hitting $57.31. 1,430,898 shares of the company traded hands, compared to its average volume of 952,439. The business's 50-day moving average is $52.64 and its 200-day moving average is $44.84. Brookfield Asset Management Ltd. has a twelve month low of $34.94 and a twelve month high of $58.53. The stock has a market capitalization of $24.05 billion, a price-to-earnings ratio of 50.72, a P/E/G ratio of 2.35 and a beta of 1.41.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. The firm had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the prior year, the firm posted $0.35 earnings per share. Analysts predict that Brookfield Asset Management Ltd. will post 1.47 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 2.65%. Brookfield Asset Management's payout ratio is 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.