Hilltop Holdings Inc. Makes New Investment in Brookfield Asset Management Ltd. (NYSE:BAM)

Hilltop Holdings Inc. bought a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,488 shares of the financial services provider’s stock, valued at approximately $212,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Hara Capital LLC acquired a new stake in Brookfield Asset Management in the 3rd quarter valued at about $27,000. RPg Family Wealth Advisory LLC purchased a new position in Brookfield Asset Management during the third quarter worth approximately $27,000. Continuum Advisory LLC lifted 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 in the last quarter. Richardson Financial Services Inc. grew its holdings 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 buying an additional 755 shares in the last quarter. Finally, WASHINGTON TRUST Co grew its holdings 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 buying an additional 640 shares in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $57.55 on Monday. Brookfield Asset Management Ltd. has a fifty-two week low of $35.46 and a fifty-two week high of $58.53. The company has a 50 day moving average price of $53.27 and a 200 day moving average price of $45.21. The stock has a market capitalization of $24.15 billion, a P/E ratio of 50.93, a price-to-earnings-growth ratio of 2.36 and a beta of 1.41.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same quarter in the previous year, the firm posted $0.35 earnings per share. On average, research analysts forecast that Brookfield Asset Management Ltd. will post 1.47 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently declared 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. This represents a $1.52 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio is currently 134.51%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BAM. Scotiabank boosted their price target on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a research report on Tuesday, November 5th. Bank of America increased their price target on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Keefe, Bruyette & Woods lifted 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. TD Securities increased their price objective on Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company lifted their target price on Brookfield Asset Management from $48.00 to $51.00 and gave the company an “underweight” 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the stock 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.