Raymond James & Associates Decreases Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Raymond James & Associates lessened its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 5.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 191,164 shares of the financial services provider's stock after selling 11,485 shares during the quarter. Raymond James & Associates' holdings in Brookfield Asset Management were worth $9,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of BAM. National Bank of Canada FI boosted its position in shares of Brookfield Asset Management by 15.5% during the first quarter. National Bank of Canada FI now owns 801,163 shares of the financial services provider's stock valued at $31,742,000 after buying an additional 107,245 shares during the last quarter. Confluence Investment Management LLC lifted its position in Brookfield Asset Management by 382.6% during the second quarter. Confluence Investment Management LLC now owns 89,891 shares of the financial services provider's stock valued at $3,420,000 after purchasing an additional 71,263 shares during the period. O Shaughnessy Asset Management LLC bought a new stake in Brookfield Asset Management in the 1st quarter worth approximately $3,014,000. Intact Investment Management Inc. bought a new position in shares of Brookfield Asset Management during the 2nd quarter valued at $4,825,000. Finally, Pitcairn Co. purchased a new position in shares of Brookfield Asset Management in the 1st quarter worth $525,000. 68.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. CIBC upped their price target on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the company an "outperformer" rating in a research report on Friday, July 19th. JPMorgan Chase & Co. cut their price objective on Brookfield Asset Management from $42.00 to $41.00 and set a "neutral" rating for the company in a research note on Thursday, August 8th. BMO Capital Markets raised their target price on shares of Brookfield Asset Management from $37.00 to $40.00 and gave the stock a "market perform" rating in a research note on Wednesday, September 11th. Wells Fargo & Company increased their price objective 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. Finally, TD Securities lifted their target price on shares of Brookfield Asset Management from $50.00 to $61.00 and gave the company a "buy" rating in a research note on Tuesday. Two 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 company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $47.41.

Brookfield Asset Management Stock Performance

BAM stock traded up $0.60 during mid-day trading on Wednesday, reaching $54.14. 107,898 shares of the stock traded hands, compared to its average volume of 1,259,509. The stock has a market capitalization of $24.02 billion, a PE ratio of 49.58, a PEG ratio of 2.26 and a beta of 1.56. Brookfield Asset Management Ltd. has a one year low of $28.35 and a one year high of $54.20. The business has a 50-day moving average price of $46.16 and a two-hundred day moving average price of $41.90.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its earnings results 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). Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. The company had revenue of $916.00 million for the quarter, compared to analysts' expectations of $1.16 billion. During the same period in the prior year, the firm posted $0.28 earnings per share. On average, equities analysts expect that Brookfield Asset Management Ltd. will post 1.43 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders 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 annualized dividend and a dividend yield of 2.81%. Brookfield Asset Management's dividend payout ratio is currently 140.74%.

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.