Intact Investment Management Inc. Has $10.96 Million Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Intact Investment Management Inc. raised its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 82.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 231,740 shares of the financial services provider's stock after buying an additional 104,980 shares during the quarter. Intact Investment Management Inc. owned about 0.05% of Brookfield Asset Management worth $10,957,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in BAM. TD Asset Management Inc raised its stake in Brookfield Asset Management by 8.5% during the second quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider's stock worth $515,823,000 after acquiring an additional 1,066,015 shares during the period. Mackenzie Financial Corp raised its position 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 period. Vanguard Group Inc. lifted its holdings 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 worth $452,153,000 after purchasing an additional 186,765 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings 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 worth $260,770,000 after purchasing an additional 2,788,611 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in Brookfield Asset Management by 8.4% during 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 during the period. Institutional investors and hedge funds own 68.41% of the company's stock.

Brookfield Asset Management Trading Up 3.0 %

BAM stock traded up $1.58 during trading hours on Monday, hitting $54.77. 3,618,571 shares of the stock traded hands, compared to its average volume of 1,275,247. Brookfield Asset Management Ltd. has a one year low of $30.59 and a one year high of $57.36. The company has a market cap of $24.33 billion, a P/E ratio of 51.16, a P/E/G ratio of 2.55 and a beta of 1.41. The stock has a 50-day simple moving average of $46.92 and a 200 day simple moving average of $42.21.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings data on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.01). The company had revenue of $916.00 million for the quarter, compared to analyst estimates 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 last year, the company posted $0.28 EPS. Analysts forecast that Brookfield Asset Management Ltd. will post 1.43 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors 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 dividend on an annualized basis and a yield of 2.78%. Brookfield Asset Management's dividend payout ratio is currently 138.18%.

Analyst Ratings Changes

A number of research firms have issued reports on BAM. JPMorgan Chase & Co. cut their target price on 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. BMO Capital Markets boosted their target price on shares of Brookfield Asset Management from $37.00 to $40.00 and gave the company a "market perform" rating in a research note on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. Wells Fargo & Company boosted their price objective on Brookfield Asset Management from $42.00 to $48.00 and gave the stock an "underweight" rating in a research report on Wednesday, October 9th. Finally, Jefferies Financial Group initiated coverage on Brookfield Asset Management in a research report on Friday, August 2nd. They issued a "hold" rating and a $43.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $48.32.

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.