Radnor Capital Management LLC Invests $430,000 in Brookfield Asset Management Ltd. (NYSE:BAM)

Radnor Capital Management LLC bought a new stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 9,083 shares of the financial services provider's stock, valued at approximately $430,000.

Other hedge funds also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV raised its holdings in Brookfield Asset Management by 98.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 385 shares during the last quarter. Continuum Advisory LLC grew its holdings in Brookfield Asset Management by 57.6% in the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider's stock valued at $30,000 after buying an additional 285 shares during the period. Richardson Financial Services Inc. increased its stake in shares of Brookfield Asset Management by 368.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 755 shares during the last quarter. WASHINGTON TRUST Co increased its stake in shares of Brookfield Asset Management by 151.3% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 640 shares during the last quarter. Finally, Legacy Bridge LLC purchased a new position in shares of Brookfield Asset Management during the 2nd quarter worth about $52,000. Hedge funds and other institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Stock Performance

Shares of BAM traded up $0.47 during mid-day trading on Friday, reaching $56.39. 730,199 shares of the company's stock traded hands, compared to its average volume of 1,280,007. Brookfield Asset Management Ltd. has a 12 month low of $30.68 and a 12 month high of $57.48. The stock has a market capitalization of $25.05 billion, a P/E ratio of 49.90, a price-to-earnings-growth ratio of 2.63 and a beta of 1.42. The business's 50-day moving average price is $48.39 and its 200-day moving average price is $42.76.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. The company had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.19 billion. Brookfield Asset Management had a return on equity of 91.12% and a net margin of 49.69%. During the same quarter in the prior year, the business posted $0.35 earnings per share. Equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.43 EPS for the current year.

Brookfield Asset Management Announces Dividend

The business also recently declared 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 of this dividend is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.70%. Brookfield Asset Management's dividend payout ratio (DPR) is 134.51%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Brookfield Asset Management from $51.00 to $56.00 and gave the stock a "buy" rating in a research note on Tuesday. CIBC lifted 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. Royal Bank of Canada lifted their price objective on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an "outperform" rating in a research note on Tuesday. Scotiabank lifted their price target on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the stock a "sector outperform" rating in a research note on Tuesday. Finally, BMO Capital Markets increased their target price on Brookfield Asset Management from $40.00 to $50.00 and gave the company a "market perform" rating in a research note on Tuesday. Three 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 MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $52.29.

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.