My Legacy Advisors LLC Has $221,000 Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

My Legacy Advisors LLC trimmed its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 14.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 4,680 shares of the financial services provider’s stock after selling 765 shares during the period. My Legacy Advisors LLC’s holdings in Brookfield Asset Management were worth $221,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of BAM. Massmutual Trust Co. FSB ADV raised its position in Brookfield Asset Management by 98.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 385 shares during the last quarter. Continuum Advisory LLC boosted its position in Brookfield Asset Management by 57.6% during the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after buying an additional 285 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in Brookfield Asset Management by 574.2% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after buying an additional 758 shares during the period. Richardson Financial Services Inc. grew its holdings in 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 increased its position in Brookfield Asset Management by 151.3% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 640 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analysts Set New Price Targets

BAM has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their price target on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Jefferies Financial Group started coverage on Brookfield Asset Management in a research report on Friday, August 2nd. They issued a “hold” rating and a $43.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on Brookfield Asset Management from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Scotiabank decreased their target price on shares of Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating for the company in a research report on Thursday, August 8th. Finally, StockNews.com lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $46.41.

Brookfield Asset Management Trading Down 1.1 %

Shares of BAM stock opened at $50.45 on Wednesday. Brookfield Asset Management Ltd. has a 12 month low of $28.35 and a 12 month high of $51.73. The firm has a market capitalization of $22.39 billion, a PE ratio of 46.71, a price-to-earnings-growth ratio of 2.26 and a beta of 1.56. The firm has a fifty day simple moving average of $44.97 and a two-hundred day simple moving average of $41.48.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. The company had revenue of $916.00 million during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the company earned $0.28 earnings per share. On average, equities analysts predict that Brookfield Asset Management Ltd. will post 1.43 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were issued a $0.38 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.01%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 140.74%.

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.