LGT Capital Partners LTD. Grows Position in Brookfield Asset Management Ltd. (NYSE:BAM)

LGT Capital Partners LTD. grew its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 11.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 534,000 shares of the financial services provider's stock after buying an additional 55,000 shares during the period. LGT Capital Partners LTD. owned 0.12% of Brookfield Asset Management worth $25,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its stake in Brookfield Asset Management by 68.5% during the second quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider's stock worth $260,770,000 after buying an additional 2,788,611 shares during the last quarter. Mackenzie Financial Corp raised its position in Brookfield Asset Management by 19.5% in the second quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider's stock valued at $514,867,000 after purchasing an additional 2,205,040 shares during the period. Dimensional Fund Advisors LP bought a new position in Brookfield Asset Management during the 2nd quarter worth approximately $42,160,000. TD Asset Management Inc increased its stake in Brookfield Asset Management by 8.5% during the 2nd quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider's stock valued at $515,823,000 after buying an additional 1,066,015 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in shares of Brookfield Asset Management by 49.8% in the first quarter. Canada Pension Plan Investment Board now owns 1,779,015 shares of the financial services provider's stock worth $74,802,000 after buying an additional 591,130 shares during the period. Hedge funds and other institutional investors own 68.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Brookfield Asset Management from $44.00 to $49.00 and gave the stock an "underperform" rating in a research note on Tuesday, November 5th. Scotiabank boosted their price target on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the stock a "sector outperform" rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised 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. The Goldman Sachs Group upped their price target on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Wells Fargo & Company lifted their price objective on Brookfield Asset Management from $48.00 to $51.00 and gave the company an "underweight" rating in a research note on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Brookfield Asset Management presently has an average rating of "Hold" and an average target price of $53.46.

Brookfield Asset Management Stock Up 0.3 %

BAM stock traded up $0.17 during trading on Tuesday, hitting $55.64. The company had a trading volume of 894,459 shares, compared to its average volume of 1,262,614. The stock has a market cap of $24.65 billion, a price-to-earnings ratio of 49.18, a PEG ratio of 2.33 and a beta of 1.42. The firm has a 50-day moving average price of $50.24 and a 200-day moving average price of $43.55. Brookfield Asset Management Ltd. has a 12 month low of $33.06 and a 12 month high of $58.53.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released 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. 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 analyst estimates of $1.19 billion. During the same period last year, the firm posted $0.35 earnings per share. Equities analysts expect that Brookfield Asset Management Ltd. will post 1.45 EPS for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently announced 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. The ex-dividend date is Friday, November 29th. This represents a $1.52 annualized dividend and a dividend yield of 2.73%. Brookfield Asset Management's payout ratio is presently 134.51%.

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.