Moors & Cabot Inc. Raises Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Moors & Cabot Inc. increased its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 4.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,983 shares of the financial services provider’s stock after purchasing an additional 420 shares during the period. Moors & Cabot Inc.’s holdings in Brookfield Asset Management were worth $425,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in BAM. SG Americas Securities LLC purchased a new position in shares of Brookfield Asset Management in the first quarter valued at approximately $137,000. Vanguard Group Inc. boosted its holdings in Brookfield Asset Management by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 10,760,414 shares of the financial services provider’s stock valued at $452,153,000 after acquiring an additional 186,765 shares during the period. UniSuper Management Pty Ltd increased its stake in Brookfield Asset Management by 79.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 5,000 shares of the financial services provider’s stock worth $210,000 after buying an additional 2,206 shares during the period. Advisors Asset Management Inc. increased its position in shares of Brookfield Asset Management by 23.0% during the first quarter. Advisors Asset Management Inc. now owns 9,001 shares of the financial services provider’s stock worth $378,000 after acquiring an additional 1,681 shares during the period. Finally, Ascent Group LLC acquired a new stake in Brookfield Asset Management in the 1st quarter valued at about $255,000. 68.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BAM shares. BMO Capital Markets raised their target price on Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods boosted their price target on Brookfield Asset Management from $44.00 to $49.00 and gave the company an “underperform” rating in a research report on Tuesday, November 5th. Royal Bank of Canada increased their price objective on Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group boosted their price target on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Brookfield Asset Management currently has an average rating of “Hold” and an average price target of $53.46.

Brookfield Asset Management Stock Performance

Shares of BAM opened at $55.47 on Friday. Brookfield Asset Management Ltd. has a fifty-two week low of $33.45 and a fifty-two week high of $58.53. The company has a market capitalization of $24.57 billion, a PE ratio of 49.09, a price-to-earnings-growth ratio of 2.28 and a beta of 1.42. The stock has a fifty day moving average of $51.14 and a two-hundred day moving average of $43.96.

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, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the firm posted $0.35 earnings per share. As a group, equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

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 $0.38 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a yield of 2.74%. Brookfield Asset Management’s payout ratio 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.