4,948 Shares in Brookfield Asset Management Ltd. (NYSE:BAM) Bought by Heritage Investors Management Corp

Heritage Investors Management Corp bought a new position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 4,948 shares of the financial services provider’s stock, valued at approximately $234,000.

A number of other large investors also recently added to or reduced their stakes in BAM. Bank of Nova Scotia Trust Co. grew its holdings in Brookfield Asset Management by 4.4% in the 1st quarter. Bank of Nova Scotia Trust Co. now owns 6,202 shares of the financial services provider’s stock worth $261,000 after acquiring an additional 263 shares during the last quarter. CWM LLC grew its holdings in Brookfield Asset Management by 12.2% in the 2nd quarter. CWM LLC now owns 2,448 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 267 shares during the last quarter. Choate Investment Advisors grew its holdings in Brookfield Asset Management by 3.3% in the 1st quarter. Choate Investment Advisors now owns 8,900 shares of the financial services provider’s stock worth $374,000 after acquiring an additional 285 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 worth $30,000 after acquiring an additional 285 shares during the last quarter. Finally, Foundations Investment Advisors LLC grew its holdings in Brookfield Asset Management by 5.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 6,654 shares of the financial services provider’s stock worth $315,000 after acquiring an additional 315 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Scotiabank lifted their target price on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a research note on Tuesday. Jefferies Financial Group assumed coverage on shares of Brookfield Asset Management in a research report on Friday, August 2nd. They set a “hold” rating and a $43.00 price target on the stock. The Goldman Sachs Group boosted their price target on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, September 30th. StockNews.com cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Finally, BMO Capital Markets boosted their price target 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. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $52.29.

Brookfield Asset Management Stock Up 1.4 %

BAM stock opened at $55.56 on Wednesday. The firm has a 50 day moving average of $47.46 and a 200 day moving average of $42.45. The stock has a market capitalization of $24.68 billion, a PE ratio of 49.17, a price-to-earnings-growth ratio of 2.55 and a beta of 1.42. Brookfield Asset Management Ltd. has a 52 week low of $30.59 and a 52 week high of $57.36.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results 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 analysts’ expectations of $1.19 billion. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. During the same period last year, the business earned $0.35 EPS. On average, equities research 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. Investors of record on Friday, November 29th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

About Brookfield Asset Management

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.