Brookfield Asset Management Ltd. (NYSE:BAM) Position Lessened by Nicola Wealth Management LTD.

Nicola Wealth Management LTD. decreased its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 4.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 268,358 shares of the financial services provider’s stock after selling 11,200 shares during the period. Nicola Wealth Management LTD.’s holdings in Brookfield Asset Management were worth $12,691,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in BAM. SG Americas Securities LLC bought a new stake in shares of Brookfield Asset Management in the 1st quarter worth approximately $137,000. Headlands Technologies LLC bought a new stake in shares of Brookfield Asset Management in the 1st quarter worth approximately $53,000. Russell Investments Group Ltd. raised its stake in Brookfield Asset Management by 2.7% during the 1st quarter. Russell Investments Group Ltd. now owns 140,125 shares of the financial services provider’s stock valued at $5,892,000 after acquiring an additional 3,692 shares in the last quarter. SageView Advisory Group LLC bought a new stake in Brookfield Asset Management during the 1st quarter valued at $273,000. Finally, Kingsview Wealth Management LLC bought a new stake in Brookfield Asset Management during the 1st quarter valued at $250,000. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 0.1 %

Shares of NYSE BAM traded up $0.06 during mid-day trading on Thursday, reaching $56.64. The company had a trading volume of 152,935 shares, compared to its average volume of 1,266,573. The stock has a market cap of $25.09 billion, a PE ratio of 50.08, a P/E/G ratio of 2.47 and a beta of 1.42. The company has a 50-day moving average price of $49.38 and a two-hundred day moving average price of $43.16. Brookfield Asset Management Ltd. has a 1-year low of $32.76 and a 1-year high of $58.53.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the firm posted $0.35 EPS. On average, research analysts expect that Brookfield Asset Management Ltd. will post 1.45 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a dividend of $0.38 per share. The ex-dividend date is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.68%. Brookfield Asset Management’s dividend payout ratio is 134.51%.

Wall Street Analyst Weigh In

BAM has been the topic of several recent analyst reports. CIBC lifted their target price on Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a research note on Friday, July 19th. Scotiabank lifted their target price on Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a research note on Tuesday, November 5th. TD Securities lifted their target price on Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods lifted their target price on Brookfield Asset Management from $44.00 to $49.00 and gave the company an “underperform” rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. cut their target price on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $52.54.

Brookfield Asset Management Company 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.