Whittier Trust Co. Purchases 1,277 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Whittier Trust Co. increased its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 25,072 shares of the financial services provider’s stock after purchasing an additional 1,277 shares during the period. Whittier Trust Co.’s holdings in Brookfield Asset Management were worth $1,186,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Brookfield Asset Management by 98.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 385 shares during the period. Continuum Advisory LLC boosted its stake in shares of Brookfield Asset Management by 57.6% in the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after buying an additional 285 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in Brookfield Asset Management by 574.2% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 758 shares during the period. Richardson Financial Services Inc. raised 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 acquiring an additional 755 shares in the last quarter. Finally, WASHINGTON TRUST Co lifted its position in shares of Brookfield Asset Management by 151.3% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 640 shares during the period. Institutional investors own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BAM shares. Bank of America boosted their price target on Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Wells Fargo & Company lifted their price objective on shares of Brookfield Asset Management from $42.00 to $48.00 and gave the company an “underweight” rating in a research note on Wednesday, October 9th. BMO Capital Markets upped their target price on Brookfield Asset Management from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 11th. TD Securities boosted their price target on Brookfield Asset Management from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Finally, Jefferies Financial Group assumed coverage on Brookfield Asset Management in a research note on Friday, August 2nd. They issued a “hold” rating and a $43.00 price objective on the stock. Two 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 stock presently has an average rating of “Hold” and an average target price of $46.41.

Brookfield Asset Management Trading Down 1.1 %

Shares of BAM stock opened at $50.45 on Wednesday. The firm has a market capitalization of $22.39 billion, a price-to-earnings ratio of 46.71, a PEG ratio of 2.26 and a beta of 1.56. The business’s 50-day moving average price is $44.97 and its 200-day moving average price is $41.48. Brookfield Asset Management Ltd. has a 12 month low of $28.35 and a 12 month high of $51.73.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). The business had revenue of $916.00 million for the quarter, compared to analyst estimates of $1.16 billion. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. During the same quarter in the prior year, the business earned $0.28 earnings per share. On average, sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.43 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were issued a $0.38 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a yield of 3.01%. Brookfield Asset Management’s payout ratio is 140.74%.

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.