Bamco Inc. NY Increases Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Bamco Inc. NY increased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 31.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,100,435 shares of the financial services provider's stock after acquiring an additional 263,532 shares during the quarter. Bamco Inc. NY owned approximately 0.25% of Brookfield Asset Management worth $52,040,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Verition Fund Management LLC bought a new stake in shares of Brookfield Asset Management in the 3rd quarter valued at about $391,000. Icon Wealth Advisors LLC purchased a new stake in Brookfield Asset Management during the third quarter valued at approximately $101,000. Northwest & Ethical Investments L.P. boosted its stake in Brookfield Asset Management by 1.5% in the third quarter. Northwest & Ethical Investments L.P. now owns 273,162 shares of the financial services provider's stock valued at $12,916,000 after acquiring an additional 4,042 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in Brookfield Asset Management by 0.4% in the third quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider's stock worth $2,201,000 after purchasing an additional 188 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of Brookfield Asset Management during the third quarter worth $27,000. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Stock Up 0.4 %

Shares of BAM stock traded up $0.25 on Tuesday, hitting $57.31. The company had a trading volume of 1,430,898 shares, compared to its average volume of 952,439. The firm has a market cap of $24.05 billion, a P/E ratio of 50.72, a price-to-earnings-growth ratio of 2.35 and a beta of 1.41. Brookfield Asset Management Ltd. has a twelve month low of $34.94 and a twelve month high of $58.53. The company has a 50-day moving average price of $52.64 and a 200-day moving average price of $44.84.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 earnings per share. Equities research analysts expect that Brookfield Asset Management Ltd. will post 1.47 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a $0.38 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a yield of 2.65%. Brookfield Asset Management's payout ratio is 134.51%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Brookfield Asset Management from $42.00 to $41.00 and set a "neutral" rating for the company in a research report on Thursday, August 8th. The Goldman Sachs Group boosted their price target on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th. Royal Bank of Canada increased their price objective on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an "outperform" rating in a research report on Tuesday, November 5th. TD Securities lifted their target price on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company upped their price target on shares of Brookfield Asset Management from $48.00 to $51.00 and gave the company an "underweight" rating in a research note on Tuesday, November 5th. Two research 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.com, Brookfield Asset Management has an average rating of "Hold" and a consensus target price 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.