Blue Zone Wealth Advisors LLC Raises Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Blue Zone Wealth Advisors LLC boosted its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 16.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 150,069 shares of the financial services provider's stock after buying an additional 21,363 shares during the period. Brookfield Asset Management makes up about 2.2% of Blue Zone Wealth Advisors LLC's investment portfolio, making the stock its 11th largest position. Blue Zone Wealth Advisors LLC's holdings in Brookfield Asset Management were worth $7,097,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. National Bank of Canada FI boosted its holdings in Brookfield Asset Management by 15.5% in the 1st quarter. National Bank of Canada FI now owns 801,163 shares of the financial services provider's stock worth $31,742,000 after acquiring an additional 107,245 shares during the period. Partners Value Investments L.P. boosted its stake in shares of Brookfield Asset Management by 0.9% in the fourth quarter. Partners Value Investments L.P. now owns 30,807,960 shares of the financial services provider's stock valued at $1,237,556,000 after purchasing an additional 280,098 shares during the period. Confluence Investment Management LLC increased its stake in Brookfield Asset Management by 382.6% during the 2nd quarter. Confluence Investment Management LLC now owns 89,891 shares of the financial services provider's stock worth $3,420,000 after buying an additional 71,263 shares during the period. O Shaughnessy Asset Management LLC acquired a new position in Brookfield Asset Management in the 1st quarter worth $3,014,000. Finally, Intact Investment Management Inc. acquired a new stake in shares of Brookfield Asset Management during the second quarter valued at about $4,825,000. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Down 1.1 %

Shares of NYSE BAM opened at $47.24 on Tuesday. The firm's 50-day moving average price is $42.94 and its two-hundred day moving average price is $40.85. Brookfield Asset Management Ltd. has a 52-week low of $28.35 and a 52-week high of $48.15. The stock has a market capitalization of $20.96 billion, a P/E ratio of 43.73, a P/E/G ratio of 2.36 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). The company had revenue of $916.00 million during the quarter, compared to the consensus estimate of $1.16 billion. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. During the same period last year, the business posted $0.28 EPS. As a group, equities research analysts expect that Brookfield Asset Management Ltd. will post 1.42 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were issued 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 3.22%. Brookfield Asset Management's dividend payout ratio (DPR) is presently 140.74%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BAM shares. JPMorgan Chase & Co. reduced their price target on Brookfield Asset Management from $42.00 to $41.00 and set a "neutral" rating for the company in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft increased their target price on Brookfield Asset Management from $43.00 to $44.00 and gave the company a "buy" rating in a research note on Thursday, August 8th. Jefferies Financial Group started coverage on shares of Brookfield Asset Management in a report on Friday, August 2nd. They issued a "hold" rating and a $43.00 price target on the stock. Bank of America raised their price objective on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, September 12th. Finally, StockNews.com downgraded shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $44.63.

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.

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