Nexus Investment Management ULC Has $267,000 Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Nexus Investment Management ULC decreased its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,632 shares of the financial services provider’s stock after selling 330 shares during the period. Nexus Investment Management ULC’s holdings in Brookfield Asset Management were worth $267,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BAM. Creative Planning lifted its position in Brookfield Asset Management by 3.4% during the 3rd quarter. Creative Planning now owns 70,670 shares of the financial services provider’s stock valued at $3,342,000 after purchasing an additional 2,313 shares during the period. Procyon Advisors LLC lifted its position in 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 valued at $429,000 after purchasing an additional 366 shares during the period. Cardinal Capital Management Inc. lifted its position in Brookfield Asset Management by 179.0% during the 3rd quarter. Cardinal Capital Management Inc. now owns 79,045 shares of the financial services provider’s stock valued at $3,742,000 after purchasing an additional 50,715 shares during the period. Ritholtz Wealth Management acquired a new position in Brookfield Asset Management during the 3rd quarter valued at about $232,000. Finally, Castle Rock Wealth Management LLC lifted its position in Brookfield Asset Management by 1.6% during the 3rd quarter. Castle Rock Wealth Management LLC now owns 30,077 shares of the financial services provider’s stock valued at $1,429,000 after purchasing an additional 471 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on BAM shares. TD Securities lifted their price objective on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. The Goldman Sachs Group lifted their price objective on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Scotiabank reduced their price objective on shares of Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating on the stock in a research note on Thursday, August 8th. StockNews.com lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company lifted their price objective on shares of Brookfield Asset Management from $42.00 to $48.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $46.41.

Brookfield Asset Management Stock Down 0.9 %

NYSE BAM opened at $48.68 on Wednesday. Brookfield Asset Management Ltd. has a 12-month low of $28.35 and a 12-month high of $49.39. The company has a market capitalization of $21.60 billion, a PE ratio of 45.07, a price-to-earnings-growth ratio of 2.26 and a beta of 1.56. The firm’s 50 day moving average is $43.83 and its 200-day moving average is $41.15.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Friday, August 9th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. The business had revenue of $916.00 million during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the business earned $0.28 earnings per share. As a group, sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.43 EPS for the current year.

Brookfield Asset Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a yield of 3.12%. Brookfield Asset Management’s payout ratio is 140.74%.

Brookfield Asset Management Company 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.