Cardinal Capital Management Inc. Boosts Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Cardinal Capital Management Inc. boosted its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 179.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 79,045 shares of the financial services provider's stock after purchasing an additional 50,715 shares during the quarter. Cardinal Capital Management Inc.'s holdings in Brookfield Asset Management were worth $3,742,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its position in shares of Brookfield Asset Management by 98.2% during the second 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 increased its stake in shares of Brookfield Asset Management by 57.6% during the second 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 period. Whittier Trust Co. of Nevada Inc. lifted 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. lifted 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 lifted 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. Institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Stock Up 1.6 %

Shares of NYSE BAM traded up $0.78 during trading on Friday, reaching $48.60. The company had a trading volume of 655,268 shares, compared to its average volume of 1,272,741. The company's fifty day moving average price is $43.46 and its 200-day moving average price is $41.06. Brookfield Asset Management Ltd. has a 12 month low of $28.35 and a 12 month high of $48.97. The stock has a market cap of $21.57 billion, a P/E ratio of 45.00, a PEG ratio of 2.26 and a beta of 1.56.

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

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Friday, August 30th. Brookfield Asset Management's dividend payout ratio is 140.74%.

Wall Street Analysts Forecast Growth

BAM has been the subject of several research reports. Jefferies Financial Group initiated coverage on Brookfield Asset Management in a report on Friday, August 2nd. They set a "hold" rating and a $43.00 price target for the company. Bank of America lifted their price target on Brookfield Asset Management from $41.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, September 12th. TD Securities lifted their price objective on Brookfield Asset Management from $49.00 to $50.00 and gave the company a "buy" rating in a report on Tuesday, August 6th. Wells Fargo & Company lifted their price objective on Brookfield Asset Management from $42.00 to $48.00 and gave the company an "underweight" rating in a report on Wednesday. Finally, BMO Capital Markets lifted their price objective on Brookfield Asset Management from $37.00 to $40.00 and gave the company a "market perform" rating in a report on Wednesday, September 11th. Two equities 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $46.41.

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.