Brookfield Asset Management Ltd. (NYSE:BAM) Shares Acquired by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC increased its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,670,488 shares of the financial services provider’s stock after purchasing an additional 99,020 shares during the quarter. Brookfield Asset Management accounts for 2.4% of Douglass Winthrop Advisors LLC’s investment portfolio, making the stock its 16th largest position. Douglass Winthrop Advisors LLC’s holdings in Brookfield Asset Management were worth $126,287,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hara Capital LLC purchased a new position in Brookfield Asset Management in the third quarter valued at about $27,000. Massmutual Trust Co. FSB ADV boosted its stake 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 worth $30,000 after acquiring an additional 385 shares in the last quarter. Continuum Advisory LLC grew its holdings in shares of Brookfield Asset Management by 57.6% in the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 285 shares during the period. Richardson Financial Services Inc. increased 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 valued at $37,000 after purchasing an additional 755 shares in the last quarter. Finally, WASHINGTON TRUST Co raised its holdings in Brookfield Asset Management by 151.3% during the second quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 640 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

Shares of BAM opened at $55.47 on Monday. Brookfield Asset Management Ltd. has a fifty-two week low of $33.45 and a fifty-two week high of $58.53. The stock has a fifty day moving average of $51.14 and a two-hundred day moving average of $44.00. 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.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released 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 firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the business 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 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 2.74%. Brookfield Asset Management’s dividend payout ratio is presently 134.51%.

Wall Street Analyst Weigh In

Several research firms have weighed in on BAM. Scotiabank upped their target price on Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a report on Tuesday, November 5th. TD Securities increased their price objective on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Wells Fargo & Company lifted their target price on shares of Brookfield Asset Management from $48.00 to $51.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods increased their price target on shares of Brookfield Asset Management from $44.00 to $49.00 and gave the company an “underperform” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average 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.