Raymond James & Associates reduced its holdings in shares of 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 disclosure with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in BAM. Everett Harris & Co. CA raised its position in Brookfield Asset Management by 9.9% in the first quarter. Everett Harris & Co. CA now owns 8,078 shares of the financial services provider's stock valued at $339,000 after purchasing an additional 725 shares during the period. Diversify Advisory Services LLC acquired a new stake in Brookfield Asset Management in the first quarter valued at $566,000. Janney Montgomery Scott LLC lifted its position in shares of Brookfield Asset Management by 2.5% during the first quarter. Janney Montgomery Scott LLC now owns 194,158 shares of the financial services provider's stock worth $8,159,000 after purchasing an additional 4,820 shares during the last quarter. BNP Paribas acquired a new position in shares of Brookfield Asset Management in the 1st quarter worth approximately $2,008,000. Finally, Quent Capital LLC lifted its stake in Brookfield Asset Management by 62.4% during the first quarter. Quent Capital LLC now owns 1,132 shares of the financial services provider's stock worth $48,000 after purchasing an additional 435 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company's stock.
Brookfield Asset Management Price Performance
Brookfield Asset Management stock traded up $0.26 during trading hours on Wednesday, hitting $53.80. The company had a trading volume of 1,238,590 shares, compared to its average volume of 1,264,893. The firm has a market cap of $23.87 billion, a PE ratio of 49.73, 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 firm has a 50-day moving average of $46.16 and a 200 day moving average of $41.90.
Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced 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 return on equity of 92.37% and a net margin of 51.29%. The business had revenue of $916.00 million for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the company earned $0.28 EPS. As a group, research analysts expect that Brookfield Asset Management Ltd. will post 1.43 earnings per share for the current year.
Brookfield Asset Management Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.52 annualized dividend and a dividend yield of 2.83%. Brookfield Asset Management's dividend payout ratio is 140.74%.
Analysts Set New Price Targets
A number of research firms have issued reports on BAM. TD Securities raised their target price on Brookfield Asset Management from $50.00 to $61.00 and gave the company a "buy" rating in a research note on Tuesday. Bank of America increased their price target on Brookfield Asset Management from $41.00 to $45.00 and gave the company a "neutral" rating in a research report on Thursday, September 12th. CIBC raised their price objective on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an "outperformer" rating in a research report on Friday, July 19th. Wells Fargo & Company lifted their price target on Brookfield Asset Management from $42.00 to $48.00 and gave the company an "underweight" rating in a report on Wednesday, October 9th. Finally, StockNews.com cut Brookfield Asset Management from a "hold" rating to a "sell" rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $48.32.
Get Our Latest Analysis on Brookfield Asset Management
Brookfield Asset Management Company Profile
(
Free Report)
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.
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