Northwest & Ethical Investments L.P. Buys 4,042 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Northwest & Ethical Investments L.P. boosted its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 273,162 shares of the financial services provider’s stock after purchasing an additional 4,042 shares during the quarter. Northwest & Ethical Investments L.P. owned about 0.06% of Brookfield Asset Management worth $12,916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hara Capital LLC acquired a new stake in Brookfield Asset Management in the third quarter valued at approximately $27,000. RPg Family Wealth Advisory LLC purchased a new stake in Brookfield Asset Management in the third quarter valued at about $27,000. Massmutual Trust Co. FSB ADV boosted its holdings in Brookfield Asset Management by 98.2% in the second 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 in the last quarter. Continuum Advisory LLC increased its holdings in shares of Brookfield Asset Management by 57.6% during the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 285 shares in the last quarter. Finally, Richardson Financial Services Inc. boosted its stake in Brookfield Asset Management by 368.3% in 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. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BAM. Royal Bank of Canada raised their target price on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. BMO Capital Markets boosted their price target 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. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a report on Monday, November 11th. Bank of America increased their price target on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Finally, StockNews.com raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Brookfield Asset Management currently has a consensus rating of “Hold” and an average price target of $53.46.

Brookfield Asset Management Stock Down 1.0 %

NYSE:BAM traded down $0.55 on Thursday, hitting $57.26. The stock had a trading volume of 665,753 shares, compared to its average volume of 1,255,638. The stock has a market cap of $25.36 billion, a price-to-earnings ratio of 50.67, a PEG ratio of 2.31 and a beta of 1.42. Brookfield Asset Management Ltd. has a 1-year low of $33.45 and a 1-year high of $58.53. The company has a fifty day moving average price of $51.84 and a two-hundred day moving average price of $44.33.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data 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 firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the business posted $0.35 EPS. As a group, analysts anticipate that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a $0.38 dividend. 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 2.65%. 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.