Aigen Investment Management LP Trims Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Aigen Investment Management LP reduced its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 32.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 28,255 shares of the financial services provider's stock after selling 13,456 shares during the quarter. Aigen Investment Management LP's holdings in Brookfield Asset Management were worth $1,336,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in BAM. Hara Capital LLC bought a new position in shares of Brookfield Asset Management in the 3rd quarter worth $27,000. Massmutual Trust Co. FSB ADV boosted its position in shares of 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 purchasing an additional 385 shares in the last quarter. Continuum Advisory LLC increased its stake in shares of Brookfield Asset Management by 57.6% in the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 285 shares in the last quarter. Richardson Financial Services Inc. lifted its holdings in 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 valued at $37,000 after acquiring an additional 755 shares during the last quarter. Finally, WASHINGTON TRUST Co increased its holdings in Brookfield Asset Management by 151.3% in the second quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider's stock valued at $40,000 after buying an additional 640 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Performance

Brookfield Asset Management stock traded down $0.88 during midday trading on Tuesday, hitting $56.92. 632,200 shares of the company's stock were exchanged, compared to its average volume of 1,274,417. The firm's 50 day simple moving average is $48.73 and its 200 day simple moving average is $42.94. The stock has a market cap of $25.29 billion, a price-to-earnings ratio of 51.37, a price-to-earnings-growth ratio of 2.52 and a beta of 1.42. Brookfield Asset Management Ltd. has a 12-month low of $30.82 and a 12-month high of $58.53.

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 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the company earned $0.35 EPS. On average, equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.45 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm 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. This represents a $1.52 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management's dividend payout ratio is presently 134.51%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BAM shares. CIBC increased their target price on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the stock an "outperformer" rating in a research report on Friday, July 19th. Bank of America increased their target price on Brookfield Asset Management from $41.00 to $45.00 and gave the company a "neutral" rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. decreased their price target on shares of Brookfield Asset Management from $42.00 to $41.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. Scotiabank raised their price target on shares of 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. Finally, Keefe, Bruyette & Woods upped their price target on shares of Brookfield Asset Management from $44.00 to $49.00 and gave the company an "underperform" rating in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $52.54.

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.