Geode Capital Management LLC grew its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 11.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,611,859 shares of the financial services provider's stock after acquiring an additional 168,170 shares during the period. Geode Capital Management LLC owned about 0.36% of Brookfield Asset Management worth $77,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Hara Capital LLC bought a new stake in Brookfield Asset Management during the 3rd quarter worth approximately $27,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Brookfield Asset Management in the third quarter worth $27,000. Richardson Financial Services Inc. raised its position in shares of 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 purchasing an additional 755 shares during the period. Continuum Advisory LLC lifted its stake in shares of Brookfield Asset Management by 42.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider's stock valued at $52,000 after buying an additional 329 shares in the last quarter. Finally, Quent Capital LLC boosted its holdings in Brookfield Asset Management by 62.1% in the 3rd quarter. Quent Capital LLC now owns 1,135 shares of the financial services provider's stock worth $54,000 after buying an additional 435 shares during the period. 68.41% of the stock is currently owned by hedge funds and other institutional investors.
Brookfield Asset Management Stock Up 0.4 %
NYSE:BAM traded up $0.20 during midday trading on Friday, hitting $54.42. The stock had a trading volume of 1,113,339 shares, compared to its average volume of 1,231,958. The stock has a 50-day moving average of $55.11 and a 200 day moving average of $46.38. The company has a market capitalization of $24.11 billion, a price-to-earnings ratio of 48.16, a PEG ratio of 2.43 and a beta of 1.41. Brookfield Asset Management Ltd. has a one year low of $37.19 and a one year high of $59.58.
Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its 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 company had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the prior year, the business earned $0.35 EPS. On average, sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current fiscal year.
Brookfield Asset Management Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a $0.38 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.52 annualized dividend and a yield of 2.79%. Brookfield Asset Management's dividend payout ratio (DPR) is presently 134.51%.
Analysts Set New Price Targets
BAM has been the subject of a number of research analyst reports. Bank of America increased their price objective on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, September 12th. StockNews.com upgraded shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft raised their price objective on Brookfield Asset Management from $56.00 to $59.00 and gave the company a "buy" rating in a research report on Monday, November 11th. The Goldman Sachs Group boosted their target price on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a "buy" rating in a research report on Tuesday, November 19th. Finally, UBS Group started coverage on Brookfield Asset Management in a report on Monday, December 16th. They set a "buy" rating for the company. 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's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $54.54.
Read Our Latest Analysis on BAM
About Brookfield Asset Management
(
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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