River Road Asset Management LLC Buys 34,726 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

River Road Asset Management LLC grew its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 23.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 182,478 shares of the financial services provider's stock after purchasing an additional 34,726 shares during the period. River Road Asset Management LLC's holdings in Brookfield Asset Management were worth $8,629,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Intact Investment Management Inc. grew its stake in Brookfield Asset Management by 82.8% in the third quarter. Intact Investment Management Inc. now owns 231,740 shares of the financial services provider's stock valued at $10,957,000 after purchasing an additional 104,980 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Brookfield Asset Management by 5.2% during the 3rd quarter. US Bancorp DE now owns 15,004 shares of the financial services provider's stock valued at $710,000 after buying an additional 736 shares during the last quarter. Diversify Wealth Management LLC grew its stake in shares of Brookfield Asset Management by 11.1% in the 3rd quarter. Diversify Wealth Management LLC now owns 14,971 shares of the financial services provider's stock valued at $758,000 after buying an additional 1,497 shares in the last quarter. Smith Salley Wealth Management lifted its stake in Brookfield Asset Management by 2.9% in the third quarter. Smith Salley Wealth Management now owns 110,764 shares of the financial services provider's stock valued at $5,238,000 after acquiring an additional 3,155 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Brookfield Asset Management by 3.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 39,234 shares of the financial services provider's stock worth $1,855,000 after acquiring an additional 1,309 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Price Performance

Shares of NYSE BAM traded up $1.39 during mid-day trading on Wednesday, hitting $56.96. The company had a trading volume of 1,703,528 shares, compared to its average volume of 1,281,062. Brookfield Asset Management Ltd. has a 12 month low of $30.59 and a 12 month high of $57.36. The firm has a market cap of $25.30 billion, a P/E ratio of 50.41, a PEG ratio of 2.55 and a beta of 1.42. The business's 50-day simple moving average is $47.78 and its 200-day simple moving average is $42.55.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.02. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 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 $0.35 EPS. As a group, sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.43 EPS for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management's dividend payout ratio (DPR) is presently 134.51%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BAM shares. The Goldman Sachs Group upped their price objective on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the stock a "buy" rating in a report on Monday, September 30th. TD Securities increased their price objective on Brookfield Asset Management from $61.00 to $64.00 and gave the company a "buy" rating in a report on Tuesday. JPMorgan Chase & Co. reduced their target price on Brookfield Asset Management from $42.00 to $41.00 and set a "neutral" rating for the company in a report on Thursday, August 8th. 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 report on Tuesday. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Brookfield Asset Management from $44.00 to $49.00 and gave the stock an "underperform" rating in a research note on Tuesday. Three investment 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 has an average rating of "Hold" and a consensus price target 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.