Brookfield Asset Management Ltd. (NYSE:BAM) Shares Acquired by Toronto Dominion Bank

Toronto Dominion Bank grew its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 7.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,056,919 shares of the financial services provider's stock after acquiring an additional 75,963 shares during the quarter. Toronto Dominion Bank owned about 0.24% of Brookfield Asset Management worth $49,982,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in BAM. TD Asset Management Inc lifted its stake in shares of Brookfield Asset Management by 8.5% during the 2nd quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider's stock worth $515,823,000 after purchasing an additional 1,066,015 shares during the period. Mackenzie Financial Corp boosted its stake in Brookfield Asset Management by 19.5% in the 2nd quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider's stock worth $514,867,000 after buying an additional 2,205,040 shares during the last quarter. Bank of Montreal Can grew its holdings in Brookfield Asset Management by 0.5% in the 3rd quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider's stock valued at $435,729,000 after buying an additional 43,134 shares during the period. Principal Financial Group Inc. increased its stake in shares of Brookfield Asset Management by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider's stock valued at $419,400,000 after acquiring an additional 24,409 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of 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 worth $260,770,000 after acquiring an additional 2,788,611 shares during the period. Institutional investors and hedge funds own 68.41% of the company's stock.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM traded down $1.29 during midday trading on Thursday, reaching $57.78. The company had a trading volume of 538,405 shares, compared to its average volume of 1,241,304. The stock has a market capitalization of $24.25 billion, a P/E ratio of 51.13, a PEG ratio of 2.37 and a beta of 1.41. The stock's fifty day moving average price is $53.89 and its 200-day moving average price is $45.55. Brookfield Asset Management Ltd. has a one year low of $35.82 and a one year high of $59.58.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The business had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter last year, the company posted $0.35 earnings per share. As a group, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued 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 2.63%. Brookfield Asset Management's dividend payout ratio (DPR) is 134.51%.

Analyst Ratings Changes

Several equities analysts recently commented on BAM shares. Bank of America upped their price target on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a "neutral" rating in a research report on Thursday, September 12th. StockNews.com upgraded Brookfield Asset Management from a "sell" rating to a "hold" rating in a report on Thursday, November 21st. Wells Fargo & Company lifted their target price on Brookfield Asset Management from $51.00 to $56.00 and gave the company an "underweight" rating in a report on Thursday. TD Securities upped their price target on Brookfield Asset Management from $61.00 to $64.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Finally, Scotiabank lifted their price objective on Brookfield Asset Management from $55.50 to $59.50 and gave the company a "sector outperform" rating in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Brookfield Asset Management currently has a consensus rating of "Hold" and an average price target of $53.88.

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.