Wellington Management Group LLP Acquires 8,591 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Wellington Management Group LLP lifted its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 350,268 shares of the financial services provider’s stock after purchasing an additional 8,591 shares during the quarter. Wellington Management Group LLP’s holdings in Brookfield Asset Management were worth $16,565,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Avior Wealth Management LLC boosted its holdings in Brookfield Asset Management by 2,857.1% in the third quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock worth $489,000 after acquiring an additional 10,000 shares in the last quarter. Intact Investment Management Inc. bought a new position in Brookfield Asset Management in the 2nd quarter worth about $4,825,000. LGT Capital Partners LTD. grew its position in Brookfield Asset Management by 11.5% during the 3rd quarter. LGT Capital Partners LTD. now owns 534,000 shares of the financial services provider’s stock valued at $25,273,000 after purchasing an additional 55,000 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Brookfield Asset Management by 5.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 834,929 shares of the financial services provider’s stock valued at $39,516,000 after purchasing an additional 45,670 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings in Brookfield Asset Management by 10.3% in the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock worth $188,057,000 after buying an additional 370,383 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

BAM has been the topic of a number of recent analyst reports. 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 report on Thursday, September 12th. StockNews.com raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. The Goldman Sachs Group upped their price target on Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Scotiabank lifted their price objective on Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a report on Tuesday, November 5th. Finally, TD Securities boosted their target price 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Brookfield Asset Management has a consensus rating of “Hold” and an average target price of $53.88.

Brookfield Asset Management Price Performance

Shares of Brookfield Asset Management stock opened at $57.43 on Friday. Brookfield Asset Management Ltd. has a 1-year low of $37.19 and a 1-year high of $59.58. The company’s fifty day simple moving average is $54.29 and its 200-day simple moving average is $45.80. The stock has a market capitalization of $24.10 billion, a PE ratio of 50.82, a P/E/G ratio of 2.43 and a beta of 1.41.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the company posted $0.35 earnings per share. As a group, research analysts anticipate that Brookfield Asset Management Ltd. will post 1.47 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Friday, November 29th. Brookfield Asset Management’s payout ratio is 134.51%.

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.