Brookfield Asset Management Ltd. (NYSE:BAM) Stock Position Raised by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC increased its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAMFree Report) (TSE:BAM.A) by 7.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 212,807 shares of the financial services provider’s stock after acquiring an additional 15,641 shares during the period. Janney Montgomery Scott LLC’s holdings in Brookfield Asset Management were worth $11,532,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC increased its holdings in shares of Brookfield Asset Management by 11.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock valued at $77,293,000 after acquiring an additional 168,170 shares during the last quarter. Avior Wealth Management LLC increased its holdings in shares of Brookfield Asset Management by 2,857.1% during the 3rd quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock valued at $489,000 after acquiring an additional 10,000 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 acquiring an additional 45,670 shares during the last quarter. LGT Capital Partners LTD. increased its holdings in shares of 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 acquiring an additional 55,000 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of Brookfield Asset Management by 10.3% during the 3rd quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock valued at $188,057,000 after acquiring an additional 370,383 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 2.6 %

Shares of NYSE:BAM opened at $59.88 on Monday. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $60.11. The firm has a market capitalization of $26.54 billion, a PE ratio of 52.99, a PEG ratio of 2.15 and a beta of 1.45. The business’s 50 day moving average is $55.91 and its 200-day moving average is $49.33.

Brookfield Asset Management (NYSE:BAMGet Free Report) (TSE:BAM.A) last posted its 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 return on equity of 85.03% and a net margin of 49.69%. During the same quarter last year, the company earned $0.35 EPS. On average, sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.45 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were given a dividend of $0.38 per share. The ex-dividend date was Friday, November 29th. This represents a $1.52 annualized dividend and a dividend yield of 2.54%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BAM shares. 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. BMO Capital Markets raised their target price on Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Scotiabank raised their target price on Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a report on Tuesday, November 5th. Royal Bank of Canada raised their target price on Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, UBS Group assumed coverage on Brookfield Asset Management in a report on Monday, December 16th. They issued a “buy” rating on the stock. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $54.38.

Read Our Latest Stock Report on BAM

Brookfield Asset Management Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Brookfield Asset Management (NYSE:BAM)

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