Round Rock Advisors LLC Makes New Investment in Brookfield Asset Management Ltd. (NYSE:BAM)

Round Rock Advisors LLC acquired a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,153 shares of the financial services provider’s stock, valued at approximately $244,000.

Several other hedge funds also recently modified their holdings of the stock. Bridges Investment Management Inc. acquired a new stake in shares of Brookfield Asset Management in the 3rd quarter valued at about $373,000. Fiera Capital Corp boosted its holdings in Brookfield Asset Management by 75.7% in the third quarter. Fiera Capital Corp now owns 69,358 shares of the financial services provider’s stock worth $3,282,000 after acquiring an additional 29,882 shares in the last quarter. Hara Capital LLC acquired a new stake in Brookfield Asset Management in the third quarter valued at approximately $27,000. Principal Financial Group Inc. increased its holdings in shares of Brookfield Asset Management by 0.3% during the third 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 in the last quarter. Finally, Radnor Capital Management LLC bought a new stake in shares of Brookfield Asset Management during the third quarter valued at approximately $430,000. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 0.8 %

Brookfield Asset Management stock opened at $56.39 on Friday. The business’s 50 day simple moving average is $48.39 and its 200 day simple moving average is $42.76. Brookfield Asset Management Ltd. has a 12 month low of $30.68 and a 12 month high of $57.48. The company has a market cap of $25.05 billion, a price-to-earnings ratio of 49.90, a PEG ratio of 2.58 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the firm earned $0.35 EPS. As a group, equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.43 earnings per share for the current fiscal 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 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 yield of 2.70%. Brookfield Asset Management’s dividend payout ratio is presently 134.51%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BAM. The Goldman Sachs Group lifted 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. JPMorgan Chase & Co. decreased their target price on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Bank of America raised their price target on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. CIBC boosted their price objective on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a report on Friday, July 19th. Finally, Jefferies Financial Group initiated coverage on Brookfield Asset Management in a report on Friday, August 2nd. They issued a “hold” rating and a $43.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $52.29.

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.