Schwartz Investment Counsel Inc. Trims Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Schwartz Investment Counsel Inc. lowered its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 35.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 361,628 shares of the financial services provider's stock after selling 200,000 shares during the quarter. Schwartz Investment Counsel Inc. owned about 0.08% of Brookfield Asset Management worth $17,101,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BAM. JCIC Asset Management Inc. boosted its holdings in Brookfield Asset Management by 2.5% in the 3rd quarter. JCIC Asset Management Inc. now owns 83,020 shares of the financial services provider's stock valued at $3,923,000 after purchasing an additional 2,055 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Brookfield Asset Management in the third quarter valued at approximately $5,210,000. Private Advisor Group LLC lifted its holdings in Brookfield Asset Management by 9.3% in the third quarter. Private Advisor Group LLC now owns 13,702 shares of the financial services provider's stock valued at $648,000 after acquiring an additional 1,169 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in Brookfield Asset Management in the third quarter worth approximately $14,216,000. Finally, Foundations Investment Advisors LLC increased its stake in Brookfield Asset Management by 5.0% during the third quarter. Foundations Investment Advisors LLC now owns 6,654 shares of the financial services provider's stock worth $315,000 after acquiring an additional 315 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM traded down $0.07 on Friday, hitting $52.44. 867,068 shares of the company's stock were exchanged, compared to its average volume of 1,265,894. Brookfield Asset Management Ltd. has a 1-year low of $28.35 and a 1-year high of $53.02. The company has a market capitalization of $23.27 billion, a PE ratio of 48.56, a P/E/G ratio of 2.26 and a beta of 1.56. The firm's 50-day moving average is $45.40 and its 200 day moving average is $41.62.

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 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 analysts' expectations 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 quarter in the prior year, the company earned $0.28 earnings per share. On average, analysts anticipate that Brookfield Asset Management Ltd. will post 1.43 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders 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 annualized dividend and a yield of 2.90%. Brookfield Asset Management's dividend payout ratio is presently 140.74%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. CIBC increased their price target on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an "outperformer" rating in a report on Friday, July 19th. Wells Fargo & Company increased their target price on shares of Brookfield Asset Management from $42.00 to $48.00 and gave the stock an "underweight" rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. reduced their price target on shares of Brookfield Asset Management from $42.00 to $41.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. Scotiabank decreased their price objective on shares of Brookfield Asset Management from $46.00 to $45.50 and set a "sector outperform" rating on the stock in a report on Thursday, August 8th. Finally, Bank of America lifted their target price on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus 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.