Fiera Capital Corp Raises Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Fiera Capital Corp lifted its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 75.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 69,358 shares of the financial services provider's stock after purchasing an additional 29,882 shares during the period. Fiera Capital Corp's holdings in Brookfield Asset Management were worth $3,282,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the company. Hara Capital LLC purchased a new stake in Brookfield Asset Management during the 3rd quarter valued at $27,000. Massmutual Trust Co. FSB ADV boosted its position in Brookfield Asset Management by 98.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider's stock valued at $30,000 after buying an additional 385 shares during the period. Continuum Advisory LLC boosted its position in Brookfield Asset Management by 57.6% during the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider's stock valued at $30,000 after buying an additional 285 shares during the period. Richardson Financial Services Inc. boosted its position in Brookfield Asset Management by 368.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider's stock valued at $37,000 after buying an additional 755 shares during the period. Finally, WASHINGTON TRUST Co boosted its position in Brookfield Asset Management by 151.3% during the 2nd 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 period. Hedge funds and other institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Stock Performance

Shares of BAM stock traded up $0.47 during trading hours on Friday, reaching $56.39. The company had a trading volume of 730,200 shares, compared to its average volume of 1,297,181. The business has a fifty day moving average price of $48.39 and a 200-day moving average price of $42.78. Brookfield Asset Management Ltd. has a one year low of $30.68 and a one year high of $57.48. The firm has a market cap of $25.05 billion, a PE ratio of 49.90, a price-to-earnings-growth ratio of 2.58 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 net margin of 49.69% and a return on equity of 85.03%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the business posted $0.35 earnings per share. Equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.43 EPS for the current year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.70%. Brookfield Asset Management's dividend payout ratio is presently 134.51%.

Analysts Set New Price Targets

Several brokerages have weighed in on BAM. The Goldman Sachs Group increased their price target on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the company a "buy" rating in a research report on Monday, September 30th. Bank of America raised their target price on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a "neutral" rating in a research report on Thursday, September 12th. StockNews.com cut shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a research report on Wednesday, August 7th. Jefferies Financial Group assumed coverage on shares of Brookfield Asset Management in a research report on Friday, August 2nd. They issued a "hold" rating and a $43.00 target price for the company. Finally, Scotiabank raised their target price on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the stock a "sector outperform" rating in a research report on Tuesday, November 5th. Three equities 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. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $52.29.

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.