Mediolanum International Funds Ltd purchased a new stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 8,787 shares of the financial services provider's stock, valued at approximately $477,000.
A number of other institutional investors also recently modified their holdings of the company. Hara Capital LLC bought a new stake in Brookfield Asset Management during the 3rd quarter worth about $27,000. RPg Family Wealth Advisory LLC bought a new stake in Brookfield Asset Management during the third quarter worth about $27,000. Versant Capital Management Inc boosted its position in Brookfield Asset Management by 1,606.3% during the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 771 shares during the last quarter. Continuum Advisory LLC grew its stake in 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 valued at $52,000 after purchasing an additional 329 shares in the last quarter. Finally, Quent Capital LLC increased its position in shares of Brookfield Asset Management by 62.1% during the 3rd quarter. Quent Capital LLC now owns 1,135 shares of the financial services provider's stock worth $54,000 after purchasing an additional 435 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
BAM has been the subject of several recent analyst reports. Keefe, Bruyette & Woods cut their price objective on Brookfield Asset Management from $57.00 to $56.00 and set an "underperform" rating for the company in a report on Monday, January 13th. StockNews.com downgraded shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a research report on Thursday, January 9th. BMO Capital Markets raised their target price on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the company a "market perform" rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their price target on Brookfield Asset Management from $56.00 to $59.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Finally, TD Securities raised their price objective on Brookfield Asset Management from $61.00 to $64.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $56.42.
Check Out Our Latest Report on BAM
Brookfield Asset Management Stock Performance
Shares of BAM stock traded up $0.14 on Thursday, hitting $57.85. The company's stock had a trading volume of 1,418,084 shares, compared to its average volume of 1,290,878. Brookfield Asset Management Ltd. has a fifty-two week low of $37.29 and a fifty-two week high of $62.61. The company has a market capitalization of $25.64 billion, a PE ratio of 51.20, a PEG ratio of 2.26 and a beta of 1.46. The stock's 50 day moving average is $56.45 and its 200-day moving average is $50.37.
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 for the quarter, beating analysts' consensus estimates of $0.36 by $0.02. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same period in the previous year, the business earned $0.35 earnings per share. On average, research analysts forecast that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current year.
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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