Nicola Wealth Management LTD. lessened its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 4.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 268,358 shares of the financial services provider's stock after selling 11,200 shares during the period. Nicola Wealth Management LTD. owned 0.06% of Brookfield Asset Management worth $12,691,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Plato Investment Management Ltd purchased a new position in shares of Brookfield Asset Management during the third quarter worth $179,000. Kovack Advisors Inc. purchased a new position in Brookfield Asset Management during the 3rd quarter valued at about $333,000. Oppenheimer & Co. Inc. purchased a new position in Brookfield Asset Management during the 3rd quarter valued at about $219,000. Entropy Technologies LP acquired a new position in Brookfield Asset Management in the 3rd quarter valued at about $415,000. Finally, Apollon Wealth Management LLC increased its stake in Brookfield Asset Management by 3.5% during the third quarter. Apollon Wealth Management LLC now owns 17,228 shares of the financial services provider's stock worth $815,000 after purchasing an additional 579 shares during the period. Institutional investors and hedge funds own 68.41% of the company's stock.
Brookfield Asset Management Stock Down 0.9 %
BAM traded down $0.51 during trading on Thursday, hitting $56.07. 691,829 shares of the stock were exchanged, compared to its average volume of 1,269,091. Brookfield Asset Management Ltd. has a 1-year low of $32.76 and a 1-year high of $58.53. The stock has a fifty day moving average price of $49.38 and a two-hundred day moving average price of $43.16. The firm has a market capitalization of $24.84 billion, a P/E ratio of 50.08, a PEG ratio of 2.47 and a beta of 1.42.
Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.02. The business had revenue of $1.12 billion for the quarter, compared to analysts' expectations 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 company posted $0.35 EPS. Analysts predict 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. Stockholders of record on Friday, November 29th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.71%. Brookfield Asset Management's payout ratio is 134.51%.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. Bank of America lifted 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. Keefe, Bruyette & Woods increased their price target on Brookfield Asset Management from $44.00 to $49.00 and gave the company an "underperform" rating in a research report on Tuesday, November 5th. Jefferies Financial Group assumed coverage on shares of Brookfield Asset Management in a research note on Friday, August 2nd. They set a "hold" rating and a $43.00 target price on the stock. StockNews.com cut shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a report on Wednesday, August 7th. Finally, TD Securities raised their price objective on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $52.54.
Get Our Latest Stock Report on Brookfield Asset Management
Brookfield Asset Management Profile
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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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