Short Interest in Brookfield Asset Management Ltd. (NYSE:BAM) Decreases By 9.3%

Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A was the recipient of a significant decrease in short interest in September. As of September 30th, there was short interest totalling 9,510,000 shares, a decrease of 9.3% from the September 15th total of 10,480,000 shares. Approximately 2.7% of the shares of the company are sold short. Based on an average trading volume of 1,040,000 shares, the days-to-cover ratio is presently 9.1 days.

Brookfield Asset Management Stock Performance

Shares of BAM traded up $0.77 during mid-day trading on Thursday, reaching $51.05. The company had a trading volume of 1,672,620 shares, compared to its average volume of 1,269,052. The company's 50 day simple moving average is $44.06 and its 200 day simple moving average is $41.21. Brookfield Asset Management has a 1-year low of $28.35 and a 1-year high of $51.40. The company has a market capitalization of $22.65 billion, a price-to-earnings ratio of 47.27, a P/E/G ratio of 2.26 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.01). Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. The company had revenue of $916.00 million during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the business posted $0.28 earnings per share. As a group, equities analysts forecast that Brookfield Asset Management will post 1.43 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.98%. Brookfield Asset Management's payout ratio is currently 140.74%.

Wall Street Analysts Forecast Growth

BAM has been the topic of several analyst reports. Wells Fargo & Company upped their price target on shares of Brookfield Asset Management from $42.00 to $48.00 and gave the stock an "underweight" rating in a research report on Wednesday, October 9th. TD Securities increased their price objective on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday, August 6th. CIBC increased their price objective on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the company an "outperformer" rating in a research report on Friday, July 19th. BMO Capital Markets raised their price target on shares of Brookfield Asset Management from $37.00 to $40.00 and gave the stock a "market perform" rating in a research report on Wednesday, September 11th. Finally, StockNews.com lowered shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Brookfield Asset Management presently has an average rating of "Hold" and a consensus target price of $46.41.

Institutional Investors Weigh In On Brookfield Asset Management

Hedge funds have recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV boosted its position in Brookfield Asset Management by 98.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider's stock worth $30,000 after buying an additional 385 shares during the period. Continuum Advisory LLC raised its holdings in Brookfield Asset Management by 57.6% during the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider's stock worth $30,000 after purchasing an additional 285 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Brookfield Asset Management by 574.2% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider's stock worth $37,000 after purchasing an additional 758 shares during the last quarter. Richardson Financial Services Inc. raised its holdings in Brookfield Asset Management by 368.3% during 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 during the last quarter. Finally, WASHINGTON TRUST Co raised its holdings in Brookfield Asset Management by 151.3% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider's stock worth $40,000 after purchasing an additional 640 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Company 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.