Baskin Financial Services Inc. Sells 10,253 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Baskin Financial Services Inc. cut its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 3.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 288,439 shares of the financial services provider's stock after selling 10,253 shares during the quarter. Brookfield Asset Management makes up 1.1% of Baskin Financial Services Inc.'s portfolio, making the stock its 28th largest position. Baskin Financial Services Inc. owned about 0.07% of Brookfield Asset Management worth $13,627,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Creative Planning grew its stake in shares of Brookfield Asset Management by 3.4% in the third quarter. Creative Planning now owns 70,670 shares of the financial services provider's stock valued at $3,342,000 after buying an additional 2,313 shares in the last quarter. Procyon Advisors LLC grew its position in shares of Brookfield Asset Management by 4.2% in the 3rd quarter. Procyon Advisors LLC now owns 9,063 shares of the financial services provider's stock valued at $429,000 after acquiring an additional 366 shares during the period. Cardinal Capital Management Inc. increased its stake in shares of Brookfield Asset Management by 179.0% during the 3rd quarter. Cardinal Capital Management Inc. now owns 79,045 shares of the financial services provider's stock worth $3,742,000 after purchasing an additional 50,715 shares during the last quarter. Ritholtz Wealth Management bought a new stake in shares of Brookfield Asset Management in the 3rd quarter valued at about $232,000. Finally, Castle Rock Wealth Management LLC raised its holdings in shares of Brookfield Asset Management by 1.6% in the 3rd quarter. Castle Rock Wealth Management LLC now owns 30,077 shares of the financial services provider's stock valued at $1,429,000 after purchasing an additional 471 shares during the period. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Up 3.3 %

Shares of BAM traded up $1.62 during trading hours on Wednesday, hitting $50.30. 987,159 shares of the company were exchanged, compared to its average volume of 1,266,639. The company has a market cap of $22.32 billion, a price-to-earnings ratio of 45.07, a P/E/G ratio of 2.26 and a beta of 1.56. The firm's fifty day moving average is $43.83 and its 200 day moving average is $41.15. Brookfield Asset Management Ltd. has a fifty-two week low of $28.35 and a fifty-two week high of $50.44.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its earnings results on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). The firm had revenue of $916.00 million during the quarter, compared to the consensus estimate 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 business earned $0.28 earnings per share. Analysts anticipate that Brookfield Asset Management Ltd. will post 1.43 EPS for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Asset Management's dividend payout ratio is presently 140.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BAM shares. JPMorgan Chase & Co. lowered their price target on Brookfield Asset Management from $42.00 to $41.00 and set a "neutral" rating on the stock in a research report on Thursday, August 8th. Scotiabank dropped their price target on Brookfield Asset Management from $46.00 to $45.50 and set a "sector outperform" rating on the stock in a research note on Thursday, August 8th. 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. Wells Fargo & Company upped their price objective on shares of Brookfield Asset Management from $42.00 to $48.00 and gave the company an "underweight" rating in a report on Wednesday, October 9th. Finally, TD Securities raised their target price on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the stock a "buy" rating in a research note on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Brookfield Asset Management currently has a consensus rating of "Hold" and an average target price of $46.41.

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.