Y Intercept Hong Kong Ltd Buys 11,396 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Y Intercept Hong Kong Ltd raised its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 41.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 38,841 shares of the financial services provider's stock after acquiring an additional 11,396 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Brookfield Asset Management were worth $1,837,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. MML Investors Services LLC boosted its position in shares of Brookfield Asset Management by 7.3% during the third quarter. MML Investors Services LLC now owns 17,511 shares of the financial services provider's stock worth $828,000 after purchasing an additional 1,193 shares in the last quarter. K2 Principal Fund L.P. bought a new position in shares of Brookfield Asset Management during the third quarter worth $808,000. XTX Topco Ltd boosted its position in shares of Brookfield Asset Management by 290.5% during the third quarter. XTX Topco Ltd now owns 24,584 shares of the financial services provider's stock worth $1,163,000 after purchasing an additional 18,289 shares in the last quarter. National Bank of Canada FI boosted its position in shares of Brookfield Asset Management by 26.3% during the third quarter. National Bank of Canada FI now owns 1,040,365 shares of the financial services provider's stock worth $49,198,000 after purchasing an additional 216,434 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Brookfield Asset Management by 2.5% during the third quarter. Wellington Management Group LLP now owns 350,268 shares of the financial services provider's stock worth $16,565,000 after purchasing an additional 8,591 shares in the last quarter. 68.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on BAM shares. 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 report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Royal Bank of Canada boosted 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 report on Tuesday, November 5th. Keefe, Bruyette & Woods boosted their price objective on shares of Brookfield Asset Management from $44.00 to $49.00 and gave the company an "underperform" rating in a research report on Tuesday, November 5th. Finally, BMO Capital Markets boosted their price objective 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, November 5th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $53.46.

Brookfield Asset Management Trading Up 3.2 %

Shares of Brookfield Asset Management stock traded up $1.82 during trading on Wednesday, hitting $59.07. 880,327 shares of the stock were exchanged, compared to its average volume of 1,244,130. The stock has a market capitalization of $24.79 billion, a price-to-earnings ratio of 52.21, a price-to-earnings-growth ratio of 2.37 and a beta of 1.41. The company has a fifty day moving average price of $53.67 and a 200-day moving average price of $45.46. Brookfield Asset Management Ltd. has a 1-year low of $35.82 and a 1-year high of $59.58.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same period in the previous year, the business earned $0.35 EPS. Equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.47 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management's payout ratio is 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.