Charles Schwab Investment Management Inc. Increases Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Charles Schwab Investment Management Inc. lifted its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 5.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 834,929 shares of the financial services provider's stock after purchasing an additional 45,670 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.19% of Brookfield Asset Management worth $39,516,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BAM. Hara Capital LLC bought a new position in Brookfield Asset Management in the 3rd quarter worth about $27,000. Massmutual Trust Co. FSB ADV increased its stake in Brookfield Asset Management by 98.2% in the 2nd 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 during the last quarter. Continuum Advisory LLC increased its stake in Brookfield Asset Management by 57.6% in the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider's stock worth $30,000 after acquiring an additional 285 shares during the last quarter. Richardson Financial Services Inc. increased its stake in Brookfield Asset Management by 368.3% in the 2nd 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 during the last quarter. Finally, WASHINGTON TRUST Co increased its stake in Brookfield Asset Management by 151.3% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider's stock worth $40,000 after acquiring an additional 640 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Scotiabank upped their price objective on Brookfield Asset Management from $55.50 to $59.50 and gave the stock 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, November 21st. TD Securities upped 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. BMO Capital Markets upped their price objective on Brookfield Asset Management from $40.00 to $50.00 and gave the stock a "market perform" rating in a report on Tuesday, November 5th. Finally, Keefe, Bruyette & Woods upped 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $53.46.

Brookfield Asset Management Price Performance

BAM traded up $0.25 during midday trading on Tuesday, reaching $57.31. 1,430,898 shares of the company's stock traded hands, compared to its average volume of 952,439. The firm has a fifty day moving average of $52.64 and a two-hundred day moving average of $44.84. 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 Ltd. has a 52 week low of $34.94 and a 52 week high of $58.53.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings results 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 return on equity of 85.03% and a net margin of 49.69%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the company posted $0.35 EPS. Sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.47 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently announced 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. This represents a $1.52 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Friday, November 29th. Brookfield Asset Management's dividend payout ratio is currently 134.51%.

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.