JPMorgan Chase & Co. Sells 161,873 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

JPMorgan Chase & Co. reduced its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 9.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,519,191 shares of the financial services provider's stock after selling 161,873 shares during the period. JPMorgan Chase & Co. owned approximately 0.34% of Brookfield Asset Management worth $71,843,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its stake in shares of Brookfield Asset Management by 68.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider's stock worth $260,770,000 after purchasing an additional 2,788,611 shares during the last quarter. Mackenzie Financial Corp grew its position in 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 last quarter. Dimensional Fund Advisors LP bought a new position in shares of Brookfield Asset Management in the second quarter valued at $42,160,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Brookfield Asset Management by 66.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider's stock valued at $92,896,000 after acquiring an additional 784,250 shares during the last quarter. Finally, Segall Bryant & Hamill LLC bought a new stake in shares of Brookfield Asset Management during the 3rd quarter worth $19,075,000. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Trading Up 0.6 %

BAM stock traded up $0.34 during mid-day trading on Friday, hitting $54.68. The stock had a trading volume of 829,918 shares, compared to its average volume of 696,259. Brookfield Asset Management Ltd. has a 1-year low of $37.19 and a 1-year high of $59.58. The company has a fifty day moving average of $55.91 and a 200 day moving average of $47.47. The stock has a market capitalization of $24.23 billion, a price-to-earnings ratio of 48.39, a PEG ratio of 2.43 and a beta of 1.45.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.02. The firm had revenue of $1.12 billion for 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 quarter in the prior year, the company posted $0.35 earnings per share. As a group, sell-side analysts expect 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 announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.78%. The ex-dividend date was Friday, November 29th. Brookfield Asset Management's payout ratio is 134.51%.

Analyst Ratings Changes

BAM has been the topic of a number of recent analyst reports. Royal Bank of Canada boosted their target price on Brookfield Asset Management from $55.00 to $68.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th. UBS Group assumed coverage on Brookfield Asset Management in a report on Monday, December 16th. They set a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Keefe, Bruyette & Woods boosted their price target on shares of Brookfield Asset Management from $49.00 to $57.00 and gave the company an "underperform" rating in a report on Friday, December 20th. Finally, The Goldman Sachs Group raised their price objective on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $54.54.

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.