Public Employees Retirement System of Ohio Purchases New Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Public Employees Retirement System of Ohio purchased a new stake 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 fund purchased 34,521 shares of the financial services provider’s stock, valued at approximately $1,634,000.

A number of other hedge funds also recently bought and sold shares of the business. TD Asset Management Inc increased its holdings in Brookfield Asset Management by 8.5% during 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 purchasing an additional 1,066,015 shares during the period. Mackenzie Financial Corp grew its holdings 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 acquiring an additional 2,205,040 shares during the period. Bank of Montreal Can grew its holdings in shares of Brookfield Asset Management by 0.5% during the 3rd quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider’s stock worth $435,729,000 after acquiring an additional 43,134 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Brookfield Asset Management by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock worth $419,400,000 after acquiring an additional 24,409 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Brookfield Asset Management by 68.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock worth $260,770,000 after acquiring an additional 2,788,611 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Scotiabank upped their target price on Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a report on Tuesday, November 5th. BMO Capital Markets upped their target price on Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. The Goldman Sachs Group upped their target price on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Royal Bank of Canada upped their target price on Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, StockNews.com upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $53.88.

Brookfield Asset Management Trading Down 7.0 %

BAM stock opened at $53.80 on Thursday. The stock has a market capitalization of $22.58 billion, a PE ratio of 47.61, a price-to-earnings-growth ratio of 2.43 and a beta of 1.41. Brookfield Asset Management Ltd. has a 12-month low of $37.19 and a 12-month high of $59.58. The stock’s 50 day simple moving average is $54.87 and its 200 day simple moving average is $46.17.

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 the consensus estimate of $0.36 by $0.02. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. During the same period in the prior year, the firm posted $0.35 EPS. On average, research analysts predict that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given 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 2.83%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 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.