11,019 Shares in Brookfield Asset Management Ltd. (NYSE:BAM) Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC bought a new stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 11,019 shares of the financial services provider's stock, valued at approximately $5,210,000.

A number of other institutional investors have also recently made changes to their positions in BAM. The Manufacturers Life Insurance Company grew its stake in Brookfield Asset Management by 68.5% during 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 acquiring an additional 2,788,611 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Brookfield Asset Management by 19.5% during the 2nd quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider's stock worth $514,867,000 after purchasing an additional 2,205,040 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of Brookfield Asset Management in the second quarter valued at approximately $42,160,000. TD Asset Management Inc increased its holdings in shares of Brookfield Asset Management by 8.5% in the second 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 during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in Brookfield Asset Management by 49.8% during the first quarter. Canada Pension Plan Investment Board now owns 1,779,015 shares of the financial services provider's stock worth $74,802,000 after buying an additional 591,130 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BAM has been the subject of a number of recent research reports. Wells Fargo & Company raised their target price on Brookfield Asset Management from $42.00 to $48.00 and gave the stock an "underweight" rating in a research note on Wednesday, October 9th. StockNews.com cut shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the company a "buy" rating in a report on Thursday, August 8th. Bank of America raised their price target on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, September 12th. Finally, BMO Capital Markets upped their price objective on Brookfield Asset Management from $37.00 to $40.00 and gave the company a "market perform" rating in a report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Brookfield Asset Management has an average rating of "Hold" and an average target price of $48.32.

Brookfield Asset Management Stock Performance

Shares of BAM traded up $0.15 during midday trading on Friday, hitting $53.19. 1,216,877 shares of the stock were exchanged, compared to its average volume of 1,264,194. The stock has a fifty day simple moving average of $46.92 and a 200 day simple moving average of $42.19. Brookfield Asset Management Ltd. has a 52-week low of $29.83 and a 52-week high of $54.20. The firm has a market cap of $23.63 billion, a P/E ratio of 48.35, a P/E/G ratio of 2.58 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly 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). The business had revenue of $916.00 million for the quarter, compared to analysts' expectations of $1.16 billion. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. During the same quarter last year, the company earned $0.28 earnings per share. As a group, equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.43 EPS 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. Shareholders of record on Friday, August 30th were paid a $0.38 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.52 annualized dividend and a dividend yield of 2.86%. Brookfield Asset Management's dividend payout ratio (DPR) is 138.18%.

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.