National Bank of Canada FI Grows Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

National Bank of Canada FI grew its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 26.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,040,365 shares of the financial services provider's stock after purchasing an additional 216,434 shares during the quarter. National Bank of Canada FI owned about 0.23% of Brookfield Asset Management worth $49,198,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in BAM. Wellington Management Group LLP increased its holdings in shares of Brookfield Asset Management by 2.5% during the 3rd quarter. Wellington Management Group LLP now owns 350,268 shares of the financial services provider's stock worth $16,565,000 after purchasing an additional 8,591 shares during the period. Quantinno Capital Management LP grew its position in Brookfield Asset Management by 4.7% during the third quarter. Quantinno Capital Management LP now owns 58,860 shares of the financial services provider's stock worth $2,786,000 after buying an additional 2,669 shares in the last quarter. Morse Asset Management Inc bought a new position in Brookfield Asset Management during the third quarter valued at about $187,000. IHT Wealth Management LLC acquired a new position in Brookfield Asset Management in the 3rd quarter valued at approximately $256,000. Finally, HighTower Advisors LLC lifted its position in shares of Brookfield Asset Management by 3.7% in the 3rd quarter. HighTower Advisors LLC now owns 134,752 shares of the financial services provider's stock worth $6,370,000 after acquiring an additional 4,862 shares during the period. 68.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BAM shares. The Goldman Sachs Group boosted their price objective on Brookfield Asset Management from $57.00 to $63.00 and gave the company a "buy" rating in a research report on Tuesday, November 19th. Wells Fargo & Company increased their price objective on shares of Brookfield Asset Management from $48.00 to $51.00 and gave the company an "underweight" rating in a research note on Tuesday, November 5th. BMO Capital Markets lifted 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 report on Tuesday, November 5th. StockNews.com raised shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a research report on Thursday, November 21st. Finally, Keefe, Bruyette & Woods lifted their price objective on Brookfield Asset Management from $44.00 to $49.00 and gave the company an "underperform" rating in a report on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $53.46.

Brookfield Asset Management Stock Performance

Shares of BAM stock traded down $0.15 during midday trading on Monday, hitting $57.40. 1,327,898 shares of the company were exchanged, compared to its average volume of 1,248,136. The firm's 50 day moving average price is $53.47 and its two-hundred day moving average price is $45.34. Brookfield Asset Management Ltd. has a 52 week low of $35.65 and a 52 week high of $58.53. The firm has a market capitalization of $24.09 billion, a P/E ratio of 50.80, a PEG ratio of 2.37 and a beta of 1.41.

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 for the quarter, beating analysts' consensus estimates 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 firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the business posted $0.35 EPS. Analysts expect that Brookfield Asset Management Ltd. will post 1.47 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 2.65%. Brookfield Asset Management's dividend payout ratio is currently 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.