Orion Portfolio Solutions LLC Decreases Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Orion Portfolio Solutions LLC reduced its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 13.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,670 shares of the financial services provider’s stock after selling 737 shares during the period. Orion Portfolio Solutions LLC’s holdings in Brookfield Asset Management were worth $221,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Public Sector Pension Investment Board boosted its position in Brookfield Asset Management by 0.4% during the third quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider’s stock worth $2,201,000 after acquiring an additional 188 shares during the last quarter. Pathstone Holdings LLC lifted its stake in Brookfield Asset Management by 1.0% in the 3rd quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock worth $1,379,000 after purchasing an additional 278 shares in the last quarter. Foundations Investment Advisors LLC boosted its holdings in shares of Brookfield Asset Management by 5.0% during the 3rd quarter. Foundations Investment Advisors LLC now owns 6,654 shares of the financial services provider’s stock worth $315,000 after purchasing an additional 315 shares during the last quarter. Procyon Advisors LLC boosted its holdings in shares of Brookfield Asset Management by 4.2% during the 3rd quarter. Procyon Advisors LLC now owns 9,063 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 366 shares during the last quarter. Finally, Hemington Wealth Management grew its position in shares of Brookfield Asset Management by 7.8% in the second quarter. Hemington Wealth Management now owns 5,664 shares of the financial services provider’s stock valued at $215,000 after purchasing an additional 410 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analysts Set New Price Targets

BAM has been the topic of a number of recent research reports. StockNews.com raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Thursday, November 21st. The Goldman Sachs Group boosted their price target on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. BMO Capital Markets raised their price objective on shares of 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. Scotiabank boosted their target price on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a report on Tuesday, November 5th. Finally, Royal Bank of Canada raised their price target on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $54.54.

Brookfield Asset Management Trading Up 0.4 %

BAM opened at $54.42 on Friday. The stock’s 50-day moving average price is $55.11 and its 200 day moving average price is $46.33. Brookfield Asset Management Ltd. has a 12-month low of $37.19 and a 12-month high of $59.58. The firm has a market cap of $24.11 billion, a price-to-earnings ratio of 48.16, a PEG ratio of 2.43 and a beta of 1.41.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the company earned $0.35 earnings per share. On average, research analysts forecast 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 declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 annualized dividend and a dividend yield of 2.79%. Brookfield Asset Management’s dividend payout ratio (DPR) is 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.