5,319 Shares in Brookfield Asset Management Ltd. (NYSE:BAM) Bought by Hancock Whitney Corp

Hancock Whitney Corp bought a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,319 shares of the financial services provider’s stock, valued at approximately $252,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BAM. Confluence Investment Management LLC increased its holdings in shares of Brookfield Asset Management by 382.6% during the second quarter. Confluence Investment Management LLC now owns 89,891 shares of the financial services provider’s stock valued at $3,420,000 after acquiring an additional 71,263 shares in the last quarter. Avior Wealth Management LLC lifted its stake in shares of Brookfield Asset Management by 2,857.1% during the third quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock worth $489,000 after buying an additional 10,000 shares during the period. Intact Investment Management Inc. purchased a new stake in shares of Brookfield Asset Management during the second quarter valued at $4,825,000. CIBC Asset Management Inc increased its position in shares of Brookfield Asset Management by 10.3% in the 3rd quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock valued at $188,057,000 after acquiring an additional 370,383 shares during the period. Finally, LGT Capital Partners LTD. raised its stake in Brookfield Asset Management by 11.5% in the 3rd quarter. LGT Capital Partners LTD. now owns 534,000 shares of the financial services provider’s stock worth $25,273,000 after acquiring an additional 55,000 shares during the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Trading Down 1.0 %

NYSE BAM opened at $57.26 on Thursday. The stock has a market capitalization of $25.36 billion, a price-to-earnings ratio of 50.67, a PEG ratio of 2.31 and a beta of 1.42. The stock has a 50-day moving average of $51.84 and a 200 day moving average of $44.33. Brookfield Asset Management Ltd. has a twelve month low of $33.45 and a twelve month high of $58.53.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, topping 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 business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the company posted $0.35 EPS. Equities analysts predict that Brookfield Asset Management Ltd. will post 1.47 EPS 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. Stockholders 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 annualized dividend and a dividend yield of 2.65%. Brookfield Asset Management’s dividend payout ratio (DPR) is 134.51%.

Wall Street Analyst Weigh In

BAM has been the topic of several research analyst reports. Bank of America boosted 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. TD Securities increased their price target 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. StockNews.com upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Thursday, November 21st. Wells Fargo & Company increased their price objective on shares of Brookfield Asset Management from $48.00 to $51.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 5th. Finally, Scotiabank raised their target price on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a report on Tuesday, November 5th. 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $53.46.

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.