Brookfield Asset Management Ltd. (NYSE:BAM) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 66.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,965,162 shares of the financial services provider's stock after buying an additional 784,250 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.44% of Brookfield Asset Management worth $92,896,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Hara Capital LLC bought a new stake in Brookfield Asset Management during the third quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV lifted its holdings in Brookfield Asset Management by 98.2% during 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 during the period. Continuum Advisory LLC increased its stake in Brookfield Asset Management by 57.6% in the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 285 shares during the last quarter. Richardson Financial Services Inc. raised its position in shares of 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 in the last quarter. Finally, WASHINGTON TRUST Co raised its stake in shares of 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 worth $40,000 after buying an additional 640 shares during the period. Institutional investors and hedge funds own 68.41% of the company's stock.

Brookfield Asset Management Trading Down 1.2 %

BAM stock traded down $0.64 during trading on Wednesday, hitting $55.00. The company had a trading volume of 902,939 shares, compared to its average volume of 1,262,547. Brookfield Asset Management Ltd. has a one year low of $33.06 and a one year high of $58.53. The business has a 50-day moving average of $50.50 and a 200-day moving average of $43.66. The stock has a market cap of $24.36 billion, a PE ratio of 49.27, a PEG ratio of 2.33 and a beta of 1.42.

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 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the previous year, the firm earned $0.35 EPS. Research analysts forecast that Brookfield Asset Management Ltd. will post 1.45 EPS for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management's dividend payout ratio (DPR) is 134.51%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BAM shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a "buy" rating in a report on Monday, November 11th. BMO Capital Markets increased their price objective on Brookfield Asset Management from $40.00 to $50.00 and gave the company a "market perform" rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. cut their price target on shares of Brookfield Asset Management from $42.00 to $41.00 and set a "neutral" rating for the company in a report on Thursday, August 8th. The Goldman Sachs Group lifted their price objective on Brookfield Asset Management from $57.00 to $63.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Bank of America boosted their target price on Brookfield Asset Management from $41.00 to $45.00 and gave the stock a "neutral" rating in a research note on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $53.46.

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.