Entropy Technologies LP Buys Shares of 8,782 Brookfield Asset Management Ltd. (NYSE:BAM)

Entropy Technologies LP purchased a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 8,782 shares of the financial services provider’s stock, valued at approximately $415,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Apollon Wealth Management LLC grew its position in shares of Brookfield Asset Management by 3.5% in the 3rd quarter. Apollon Wealth Management LLC now owns 17,228 shares of the financial services provider’s stock valued at $815,000 after buying an additional 579 shares during the last quarter. Laffer Tengler Investments Inc. boosted its holdings in Brookfield Asset Management by 1.4% in the third quarter. Laffer Tengler Investments Inc. now owns 119,005 shares of the financial services provider’s stock valued at $5,628,000 after acquiring an additional 1,617 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in Brookfield Asset Management by 45.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 5,841 shares of the financial services provider’s stock worth $276,000 after purchasing an additional 1,830 shares during the last quarter. Round Rock Advisors LLC bought a new stake in shares of Brookfield Asset Management in the 3rd quarter valued at $244,000. Finally, Bridges Investment Management Inc. acquired a new stake in shares of Brookfield Asset Management during the third quarter worth $373,000. 68.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BAM has been the subject of several research analyst reports. BMO Capital Markets lifted their price objective on Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods lifted their target price on Brookfield Asset Management from $44.00 to $49.00 and gave the stock an “underperform” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price target on Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, November 11th. The Goldman Sachs Group lifted their price objective on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, Bank of America increased their target price on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Three equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $52.54.

Brookfield Asset Management Trading Down 0.6 %

Brookfield Asset Management stock opened at $55.76 on Friday. The firm has a 50 day simple moving average of $49.67 and a 200 day simple moving average of $43.25. Brookfield Asset Management Ltd. has a 1-year low of $33.06 and a 1-year high of $58.53. The firm has a market capitalization of $24.70 billion, a price-to-earnings ratio of 49.35, a P/E/G ratio of 2.36 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company posted $0.35 EPS. On average, equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.45 EPS for the current year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management’s payout ratio is 134.51%.

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.