Brookfield Asset Management Ltd. (NYSE:BAM) Shares Bought by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. raised its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 26.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,748 shares of the financial services provider’s stock after buying an additional 576 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Brookfield Asset Management were worth $130,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its stake in Brookfield Asset Management by 68.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock valued at $260,770,000 after purchasing an additional 2,788,611 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Brookfield Asset Management by 19.5% during the 2nd quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock worth $514,867,000 after buying an additional 2,205,040 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of Brookfield Asset Management in the 2nd quarter worth about $42,160,000. TD Asset Management Inc grew its stake in Brookfield Asset Management by 8.5% in the 2nd quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock valued at $515,823,000 after acquiring an additional 1,066,015 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in Brookfield Asset Management by 49.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,779,015 shares of the financial services provider’s stock valued at $74,802,000 after acquiring an additional 591,130 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Performance

BAM opened at $50.66 on Thursday. Brookfield Asset Management Ltd. has a 1 year low of $28.35 and a 1 year high of $51.73. The company’s 50 day simple moving average is $45.17 and its 200 day simple moving average is $41.55. The stock has a market capitalization of $22.48 billion, a PE ratio of 46.90, a P/E/G ratio of 2.26 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Friday, August 9th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. The company had revenue of $916.00 million for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the firm earned $0.28 earnings per share. As a group, sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.43 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.00%. Brookfield Asset Management’s dividend payout ratio (DPR) is 140.74%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BAM. JPMorgan Chase & Co. reduced their price target on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Bank of America upped their target price 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. The Goldman Sachs Group boosted their price target on Brookfield Asset Management from $47.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, September 30th. CIBC increased their price objective on Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a research note on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $46.41.

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.