Principal Financial Group Inc. Has $419.40 Million Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Principal Financial Group Inc. raised its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 0.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,867,458 shares of the financial services provider's stock after buying an additional 24,409 shares during the quarter. Principal Financial Group Inc. owned about 2.00% of Brookfield Asset Management worth $419,400,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Radnor Capital Management LLC acquired a new stake in shares of Brookfield Asset Management during the third quarter worth $430,000. Marks Group Wealth Management Inc grew its holdings in shares of Brookfield Asset Management by 3.9% during the third quarter. Marks Group Wealth Management Inc now owns 171,680 shares of the financial services provider's stock valued at $8,119,000 after purchasing an additional 6,421 shares during the last quarter. Heritage Investors Management Corp acquired a new position in Brookfield Asset Management during the 3rd quarter valued at approximately $234,000. River Road Asset Management LLC boosted its holdings in shares of Brookfield Asset Management by 23.5% during the third quarter. River Road Asset Management LLC now owns 182,478 shares of the financial services provider's stock valued at $8,629,000 after acquiring an additional 34,726 shares during the period. Finally, Intact Investment Management Inc. grew its position in Brookfield Asset Management by 82.8% in the 3rd quarter. Intact Investment Management Inc. now owns 231,740 shares of the financial services provider's stock worth $10,957,000 after purchasing an additional 104,980 shares during the last quarter. Institutional investors own 68.41% of the company's stock.

Analyst Ratings Changes

BAM has been the subject of a number of recent analyst reports. BMO Capital Markets increased their target price on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the company a "market perform" rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft increased their price target on Brookfield Asset Management from $51.00 to $56.00 and gave the company a "buy" rating in a research note on Tuesday. Royal Bank of Canada raised their target price on Brookfield Asset Management from $55.00 to $68.00 and gave the company an "outperform" rating in a research note on Tuesday. StockNews.com downgraded shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a report on Wednesday, August 7th. Finally, CIBC increased their target price on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the company an "outperformer" rating in a research note on Friday, July 19th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $52.29.

Brookfield Asset Management Trading Down 1.8 %

NYSE BAM traded down $1.04 during trading on Thursday, reaching $55.92. The company's stock had a trading volume of 1,504,456 shares, compared to its average volume of 1,282,096. The stock has a market capitalization of $24.84 billion, a PE ratio of 49.43, a PEG ratio of 2.55 and a beta of 1.42. Brookfield Asset Management Ltd. has a 1-year low of $30.60 and a 1-year high of $57.48. The business has a 50-day moving average price of $47.78 and a 200-day moving average price of $42.55.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. The firm had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the prior year, the company posted $0.35 earnings per share. As a group, analysts expect that Brookfield Asset Management Ltd. will post 1.43 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a yield of 2.72%. Brookfield Asset Management's payout ratio is currently 134.51%.

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.