Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. reduced its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,300 shares of the financial services provider’s stock after selling 229 shares during the quarter. Raymond James Trust N.A.’s holdings in Brookfield Asset Management were worth $393,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. lifted its holdings in shares of Brookfield Asset Management by 23.0% during the 1st quarter. Advisors Asset Management Inc. now owns 9,001 shares of the financial services provider’s stock worth $378,000 after acquiring an additional 1,681 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Brookfield Asset Management by 28.3% in the 1st quarter. Janus Henderson Group PLC now owns 81,103 shares of the financial services provider’s stock valued at $3,408,000 after purchasing an additional 17,895 shares during the last quarter. Ancora Advisors LLC grew its stake in shares of Brookfield Asset Management by 6.5% during the 1st quarter. Ancora Advisors LLC now owns 23,399 shares of the financial services provider’s stock valued at $983,000 after buying an additional 1,437 shares during the period. EdgePoint Investment Group Inc. grew its stake in shares of Brookfield Asset Management by 1.2% during the 1st quarter. EdgePoint Investment Group Inc. now owns 145,200 shares of the financial services provider’s stock valued at $6,102,000 after buying an additional 1,661 shares during the period. Finally, Cetera Investment Advisers increased its holdings in shares of Brookfield Asset Management by 797.2% during the 1st quarter. Cetera Investment Advisers now owns 74,791 shares of the financial services provider’s stock worth $3,145,000 after buying an additional 66,455 shares during the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BAM. Wells Fargo & Company lifted their target price on Brookfield Asset Management from $48.00 to $51.00 and gave the company an “underweight” rating in a report on Tuesday, November 5th. The Goldman Sachs Group lifted their price objective on Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Scotiabank increased their target price on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a research report on Tuesday, November 5th. Bank of America lifted their price target on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Brookfield Asset Management from $44.00 to $49.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Brookfield Asset Management presently has an average rating of “Hold” and a consensus price target of $53.46.

Brookfield Asset Management Price Performance

NYSE:BAM opened at $57.81 on Wednesday. Brookfield Asset Management Ltd. has a 1-year low of $33.45 and a 1-year high of $58.53. The stock has a market cap of $25.61 billion, a P/E ratio of 51.16, a PEG ratio of 2.28 and a beta of 1.42. The firm has a 50-day moving average of $51.61 and a two-hundred day moving average of $44.24.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share 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 firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the firm earned $0.35 EPS. As a group, equities analysts expect that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 annualized dividend and a yield of 2.63%. Brookfield Asset Management’s dividend payout ratio is presently 134.51%.

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.