Brookfield Asset Management Ltd. (NYSE:BAM) Position Increased by Bank of Montreal Can

Bank of Montreal Can increased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,236,374 shares of the financial services provider’s stock after buying an additional 43,134 shares during the quarter. Bank of Montreal Can owned about 2.09% of Brookfield Asset Management worth $435,729,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hara Capital LLC bought a new stake in shares of Brookfield Asset Management during the 3rd quarter worth $27,000. Massmutual Trust Co. FSB ADV grew its holdings in Brookfield Asset Management by 98.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 385 shares during the period. Continuum Advisory LLC lifted its holdings in Brookfield Asset Management by 57.6% during the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 285 shares in the last quarter. Richardson Financial Services Inc. increased its stake in Brookfield Asset Management by 368.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 755 shares in the last quarter. Finally, WASHINGTON TRUST Co boosted its stake in Brookfield Asset Management by 151.3% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 640 shares during the period. Institutional investors own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

BAM has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Brookfield Asset Management from $44.00 to $49.00 and gave the company an “underperform” rating in a research note on Tuesday, November 5th. StockNews.com upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Thursday. TD Securities increased their target price on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Bank of America lifted their price target on Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Finally, BMO Capital Markets upped their target price on Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Brookfield Asset Management currently has an average rating of “Hold” and a consensus price target of $53.46.

Brookfield Asset Management Stock Performance

Shares of BAM traded up $0.71 during midday trading on Monday, hitting $56.18. 117,967 shares of the stock were exchanged, compared to its average volume of 1,254,434. The stock has a fifty day simple moving average of $51.14 and a 200 day simple moving average of $44.00. Brookfield Asset Management Ltd. has a 52-week low of $33.45 and a 52-week high of $58.53. The firm has a market cap of $24.88 billion, a P/E ratio of 49.09, a P/E/G ratio of 2.28 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released 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. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.19 billion. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. During the same quarter in the previous year, the company posted $0.35 earnings per share. As a group, equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.47 EPS 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. Stockholders of record on Friday, November 29th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is 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.