Brookfield Asset Management Ltd. (NYSE:BAM) Stock Position Lifted by HighTower Advisors LLC

HighTower Advisors LLC lifted its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 134,752 shares of the financial services provider’s stock after purchasing an additional 4,862 shares during the quarter. HighTower Advisors LLC’s holdings in Brookfield Asset Management were worth $6,370,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Brookfield Asset Management by 68.5% in the second quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock valued at $260,770,000 after acquiring an additional 2,788,611 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Brookfield Asset Management by 19.5% during the 2nd quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock valued at $514,867,000 after purchasing an additional 2,205,040 shares during the period. Dimensional Fund Advisors LP bought a new stake in shares of Brookfield Asset Management in the 2nd quarter worth $42,160,000. TD Asset Management Inc lifted its holdings in shares of Brookfield Asset Management by 8.5% in the second quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock valued at $515,823,000 after buying an additional 1,066,015 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Brookfield Asset Management by 66.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock valued at $92,896,000 after buying an additional 784,250 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

NYSE:BAM opened at $57.40 on Tuesday. The company has a market capitalization of $24.09 billion, a price-to-earnings ratio of 50.80, a PEG ratio of 2.37 and a beta of 1.41. The company has a 50-day moving average of $53.47 and a 200-day moving average of $45.34. Brookfield Asset Management Ltd. has a 52 week low of $35.65 and a 52 week high of $58.53.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, beating 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 period in the prior year, the company posted $0.35 EPS. Sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.47 EPS for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 yield of 2.65%. Brookfield Asset Management’s payout ratio is 134.51%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on BAM shares. StockNews.com upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. BMO Capital Markets lifted their target price on Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Scotiabank lifted their price target on Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a research note on Tuesday, November 5th. Bank of America lifted their target price on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. 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 research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $53.46.

Brookfield Asset Management Profile

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.