300,608 Shares in Brookfield Asset Management Ltd. (NYSE:BAM) Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC purchased a new position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 300,608 shares of the financial services provider's stock, valued at approximately $14,216,000. Sequoia Financial Advisors LLC owned approximately 0.07% of Brookfield Asset Management at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BAM. TD Asset Management Inc boosted its stake in shares of Brookfield Asset Management by 8.5% in the 2nd quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider's stock valued at $515,823,000 after purchasing an additional 1,066,015 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Brookfield Asset Management by 19.5% in the 2nd quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider's stock valued at $514,867,000 after purchasing an additional 2,205,040 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Brookfield Asset Management by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 10,760,414 shares of the financial services provider's stock valued at $452,153,000 after purchasing an additional 186,765 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Brookfield Asset Management by 68.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider's stock valued at $260,770,000 after purchasing an additional 2,788,611 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of Brookfield Asset Management by 8.4% in the 2nd quarter. CIBC Asset Management Inc now owns 3,583,113 shares of the financial services provider's stock valued at $136,318,000 after purchasing an additional 278,613 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Trading Down 1.1 %

NYSE BAM traded down $0.58 during trading on Tuesday, hitting $50.45. The company had a trading volume of 884,291 shares, compared to its average volume of 1,264,639. Brookfield Asset Management Ltd. has a one year low of $28.35 and a one year high of $51.73. The company has a market cap of $22.39 billion, a price-to-earnings ratio of 46.71, a price-to-earnings-growth ratio of 2.26 and a beta of 1.56. The company's fifty day moving average is $44.97 and its 200-day moving average is $41.48.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings data 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). Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. The company had revenue of $916.00 million during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the company posted $0.28 earnings per share. As a group, equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.43 EPS for the current year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were issued a $0.38 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.52 annualized dividend and a yield of 3.01%. Brookfield Asset Management's dividend payout ratio (DPR) is presently 140.74%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Brookfield Asset Management in a research note on Friday, August 2nd. They issued a "hold" rating and a $43.00 price objective for the company. CIBC upped 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 note on Friday, July 19th. Wells Fargo & Company increased their price target on shares of Brookfield Asset Management from $42.00 to $48.00 and gave the company an "underweight" rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price target on shares of Brookfield Asset Management from $42.00 to $41.00 and set a "neutral" rating for the company in a research report on Thursday, August 8th. Finally, BMO Capital Markets increased their price target on shares of Brookfield Asset Management from $37.00 to $40.00 and gave the company a "market perform" rating in a research report on Wednesday, September 11th. 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. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $46.41.

About Brookfield Asset Management

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.