Pathstone Holdings LLC Grows Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Pathstone Holdings LLC grew its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,166 shares of the financial services provider’s stock after acquiring an additional 278 shares during the quarter. Pathstone Holdings LLC’s holdings in Brookfield Asset Management were worth $1,379,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of BAM. Hara Capital LLC purchased a new stake in Brookfield Asset Management in the third quarter valued at approximately $27,000. Massmutual Trust Co. FSB ADV raised its position in shares of 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 valued at $30,000 after buying an additional 385 shares in the last quarter. Continuum Advisory LLC raised its position in shares of Brookfield Asset Management by 57.6% during the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after buying an additional 285 shares in the last quarter. Richardson Financial Services Inc. lifted its holdings in shares of 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 acquiring an additional 755 shares during the last quarter. Finally, WASHINGTON TRUST Co grew its position in Brookfield Asset Management by 151.3% in the second quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 640 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Trading Down 1.0 %

BAM stock opened at $57.26 on Friday. The firm’s 50-day moving average price is $52.03 and its two-hundred day moving average price is $44.42. 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. Brookfield Asset Management Ltd. has a 12-month low of $33.45 and a 12-month high of $58.53.

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, beating analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $1.12 billion during 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 prior year, the company posted $0.35 EPS. Equities analysts predict that Brookfield Asset Management Ltd. will post 1.47 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently declared 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. This represents a $1.52 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 134.51%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BAM shares. BMO Capital Markets raised their price target on Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their price objective on 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 upped their target price on Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. The Goldman Sachs Group increased their price target on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, TD Securities boosted their price objective 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. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.