Brookfield Asset Management Ltd. (NYSE:BAM) Holdings Raised by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 834,929 shares of the financial services provider’s stock after acquiring an additional 45,670 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Brookfield Asset Management were worth $39,516,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Hara Capital LLC acquired a new position in shares of Brookfield Asset Management during the 3rd quarter worth $27,000. Massmutual Trust Co. FSB ADV boosted its holdings 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 worth $30,000 after purchasing an additional 385 shares in the last quarter. Continuum Advisory LLC increased its position in Brookfield Asset Management by 57.6% during the second 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 last quarter. Richardson Financial Services Inc. increased its position in Brookfield Asset Management by 368.3% during the second quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock worth $37,000 after buying an additional 755 shares during 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 valued at $40,000 after buying an additional 640 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Down 0.2 %

BAM stock opened at $57.07 on Tuesday. The business’s 50-day simple moving average is $52.23 and its 200 day simple moving average is $44.60. The company has a market cap of $23.95 billion, a PE ratio of 50.50, a price-to-earnings-growth ratio of 2.35 and a beta of 1.42. Brookfield Asset Management Ltd. has a twelve month low of $34.94 and a twelve month 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations 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 previous year, the business posted $0.35 earnings per share. On average, equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.47 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio is 134.51%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. TD Securities increased their price objective on Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Bank of America increased their price target on Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. reduced 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. StockNews.com upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Thursday, November 21st. Finally, BMO Capital Markets boosted their target price on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.