4,900 Shares in Brookfield Asset Management Ltd. (NYSE:BAM) Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management bought a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,900 shares of the financial services provider’s stock, valued at approximately $232,000.

Several other large investors have also added to or reduced their stakes in BAM. Vanguard Group Inc. lifted its stake in shares of Brookfield Asset Management by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 10,573,649 shares of the financial services provider’s stock valued at $424,743,000 after buying an additional 170,764 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Brookfield Asset Management by 4.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 61,925 shares of the financial services provider’s stock valued at $2,488,000 after acquiring an additional 2,882 shares during the period. First Hawaiian Bank boosted its stake in shares of Brookfield Asset Management by 127.6% in the first quarter. First Hawaiian Bank now owns 26,558 shares of the financial services provider’s stock worth $1,116,000 after acquiring an additional 14,889 shares during the period. Park Avenue Securities LLC grew its position in shares of Brookfield Asset Management by 41.0% during the first quarter. Park Avenue Securities LLC now owns 15,721 shares of the financial services provider’s stock worth $661,000 after purchasing an additional 4,572 shares in the last quarter. Finally, GoalVest Advisory LLC purchased a new stake in shares of Brookfield Asset Management during the first quarter worth about $100,000. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 1.5 %

Shares of BAM opened at $51.05 on Friday. The firm has a market capitalization of $22.65 billion, a P/E ratio of 47.27, a P/E/G ratio of 2.26 and a beta of 1.56. Brookfield Asset Management Ltd. has a 12-month low of $28.35 and a 12-month high of $51.40. The firm has a fifty day moving average price of $44.29 and a 200-day moving average price of $41.28.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $916.00 million for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the company posted $0.28 EPS. Analysts predict that Brookfield Asset Management Ltd. will post 1.43 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.98%. The ex-dividend date was Friday, August 30th. Brookfield Asset Management’s payout ratio is 140.74%.

Analyst Ratings Changes

BAM has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their price target on 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. Scotiabank reduced their price target on shares of Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating on the stock in a report on Thursday, August 8th. Jefferies Financial Group initiated coverage on shares of Brookfield Asset Management in a report on Friday, August 2nd. They set a “hold” rating and a $43.00 price objective for the company. CIBC lifted their target price on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a report on Friday, July 19th. Finally, BMO Capital Markets increased their price target on Brookfield Asset Management from $37.00 to $40.00 and gave the company a “market perform” rating in a research note on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $46.41.

Brookfield Asset Management 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.