DAVENPORT & Co LLC decreased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 0.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,251,174 shares of the financial services provider's stock after selling 12,601 shares during the period. Brookfield Asset Management makes up about 1.0% of DAVENPORT & Co LLC's holdings, making the stock its 16th biggest holding. DAVENPORT & Co LLC owned approximately 0.73% of Brookfield Asset Management worth $176,625,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. purchased a new stake in Brookfield Asset Management in the second quarter worth about $201,000. Teachers Retirement System of The State of Kentucky acquired a new position in Brookfield Asset Management during the second quarter worth $201,000. Clearbridge Investments LLC increased its position in Brookfield Asset Management by 5.0% during the second quarter. Clearbridge Investments LLC now owns 18,217 shares of the financial services provider's stock worth $693,000 after buying an additional 875 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Brookfield Asset Management during the second quarter worth about $830,000. Finally, SG Americas Securities LLC acquired a new position in Brookfield Asset Management in the third quarter valued at approximately $4,359,000. 68.41% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several brokerages have recently commented on BAM. CIBC raised their target price on Brookfield Asset Management from $63.00 to $70.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a "buy" rating in a research report on Monday, November 11th. TD Securities upped their price objective on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Royal Bank of Canada raised their target price on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th. Finally, Scotiabank raised their target price on shares of Brookfield Asset Management from $59.50 to $63.00 and gave the company a "sector outperform" rating in a research report on Monday. Three analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $56.42.
Read Our Latest Stock Report on BAM
Brookfield Asset Management Stock Performance
Shares of BAM stock traded up $0.34 during trading on Wednesday, hitting $57.47. 888,808 shares of the company were exchanged, compared to its average volume of 1,263,415. The firm has a market capitalization of $25.47 billion, a price-to-earnings ratio of 50.85, a P/E/G ratio of 2.26 and a beta of 1.46. The business's 50-day simple moving average is $56.44 and its 200 day simple moving average is $50.32. Brookfield Asset Management Ltd. has a twelve month low of $37.29 and a twelve month high of $62.61.
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 earnings per share (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 analysts' expectations of $1.19 billion. During the same period in the previous year, the business posted $0.35 earnings per share. On average, equities analysts forecast that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current fiscal year.
Brookfield Asset Management Company Profile
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Free Report)
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.
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