Geode Capital Management LLC Has $77.29 Million Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Geode Capital Management LLC increased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 11.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,611,859 shares of the financial services provider's stock after purchasing an additional 168,170 shares during the quarter. Geode Capital Management LLC owned 0.36% of Brookfield Asset Management worth $77,293,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BAM. Hara Capital LLC acquired a new stake in shares of Brookfield Asset Management during the 3rd quarter valued at $27,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Brookfield Asset Management in the 3rd quarter valued at $27,000. Richardson Financial Services Inc. increased its stake in 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 purchasing an additional 755 shares in the last quarter. Legacy Bridge LLC purchased a new stake in Brookfield Asset Management during the second quarter valued at about $52,000. Finally, Continuum Advisory LLC boosted its holdings in shares of Brookfield Asset Management by 42.2% in the third quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider's stock worth $52,000 after buying an additional 329 shares during the period. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Trading Up 0.4 %

Brookfield Asset Management stock traded up $0.20 on Friday, reaching $54.42. 1,113,339 shares of the stock were exchanged, compared to its average volume of 1,231,958. Brookfield Asset Management Ltd. has a twelve month low of $37.19 and a twelve month high of $59.58. The firm has a fifty day moving average price of $55.11 and a two-hundred day moving average price of $46.33. The stock has a market cap of $24.11 billion, a PE ratio of 48.16, a PEG ratio of 2.43 and a beta of 1.41.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. The company had revenue of $1.12 billion during the quarter, compared to analysts' expectations 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 period in the prior year, the business earned $0.35 earnings per share. Equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.47 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued 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 134.51%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. StockNews.com upgraded shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a research report on Thursday, November 21st. BMO Capital Markets boosted their price objective on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the company a "market perform" rating in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods raised their price target on Brookfield Asset Management from $49.00 to $57.00 and gave the stock an "underperform" rating in a research note on Friday. The Goldman Sachs Group raised their price objective on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a "buy" rating in a research report on Tuesday, November 19th. Finally, TD Securities boosted their target price on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $54.54.

Brookfield Asset Management 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.