National Bank of Canada FI Has $31.74 Million Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

National Bank of Canada FI boosted its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 15.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 801,163 shares of the financial services provider’s stock after purchasing an additional 107,245 shares during the quarter. National Bank of Canada FI’s holdings in Brookfield Asset Management were worth $31,742,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of BAM. Beutel Goodman & Co Ltd. lifted its holdings in shares of Brookfield Asset Management by 114.5% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 6,922,224 shares of the financial services provider’s stock valued at $279,387,000 after purchasing an additional 3,695,774 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Brookfield Asset Management by 17.1% in the fourth quarter. Wells Fargo & Company MN now owns 692,801 shares of the financial services provider’s stock valued at $27,842,000 after buying an additional 100,997 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of Brookfield Asset Management by 42.4% in the fourth quarter. Hsbc Holdings PLC now owns 628,945 shares of the financial services provider’s stock valued at $25,265,000 after buying an additional 187,250 shares during the period. Asset Management One Co. Ltd. increased its position in shares of Brookfield Asset Management by 127.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 62,914 shares of the financial services provider’s stock worth $2,537,000 after acquiring an additional 35,300 shares in the last quarter. Finally, Partners Value Investments L.P. raised its holdings in shares of Brookfield Asset Management by 0.9% during the fourth quarter. Partners Value Investments L.P. now owns 30,807,960 shares of the financial services provider’s stock worth $1,237,556,000 after acquiring an additional 280,098 shares during the period. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock traded up $0.69 during trading on Thursday, reaching $41.80. 191,319 shares of the company’s stock were exchanged, compared to its average volume of 1,348,641. The firm’s 50-day moving average price is $39.30 and its 200 day moving average price is $39.94. The company has a market cap of $18.55 billion, a P/E ratio of 38.06, a PEG ratio of 1.96 and a beta of 1.62. Brookfield Asset Management Ltd. has a 1-year low of $28.35 and a 1-year high of $43.00.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. The company had revenue of $884.00 million for the quarter. Brookfield Asset Management had a net margin of 49.36% and a return on equity of 98.98%. As a group, equities research analysts predict that Brookfield Asset Management Ltd. will post 1.47 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.52 annualized dividend and a yield of 3.64%. Brookfield Asset Management’s dividend payout ratio is presently 140.74%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. CIBC lifted their target price on Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a research report on Friday, July 19th. Royal Bank of Canada boosted their price objective on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. JPMorgan Chase & Co. initiated coverage on shares of Brookfield Asset Management in a research report on Wednesday, May 15th. They issued a “neutral” rating and a $41.00 target price for the company. Scotiabank lowered their price target on shares of Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating on the stock in a research note on Thursday, May 9th. Finally, StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $42.32.

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.