Brookfield Asset Management Ltd. (NYSE:BAM) Shares Purchased by LGT Capital Partners LTD.

LGT Capital Partners LTD. boosted its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 11.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 534,000 shares of the financial services provider’s stock after acquiring an additional 55,000 shares during the quarter. LGT Capital Partners LTD.’s holdings in Brookfield Asset Management were worth $25,273,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Hara Capital LLC acquired a new stake in Brookfield Asset Management in the 3rd quarter valued at $27,000. Massmutual Trust Co. FSB ADV boosted its stake in Brookfield Asset Management by 98.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 385 shares during the last quarter. Continuum Advisory LLC boosted its stake in Brookfield Asset Management by 57.6% during the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 285 shares during the last quarter. Richardson Financial Services Inc. boosted its stake in Brookfield Asset Management by 368.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 755 shares during the last quarter. Finally, WASHINGTON TRUST Co boosted its stake in Brookfield Asset Management by 151.3% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 640 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Trading Down 0.5 %

Shares of BAM opened at $55.47 on Tuesday. The firm has a market cap of $24.57 billion, a P/E ratio of 49.09, a price-to-earnings-growth ratio of 2.33 and a beta of 1.42. Brookfield Asset Management Ltd. has a 12-month low of $33.06 and a 12-month high of $58.53. The company’s 50-day moving average price is $50.24 and its 200 day moving average price is $43.55.

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 (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same period in the previous year, the firm earned $0.35 EPS. Equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.45 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 dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a yield of 2.74%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BAM shares. Royal Bank of Canada lifted their target price on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods lifted their target price on shares of Brookfield Asset Management from $44.00 to $49.00 and gave the stock an “underperform” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lowered their target price on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. BMO Capital Markets boosted their price target on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Three 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. According to data from MarketBeat, Brookfield Asset Management has a consensus rating of “Hold” and an average target price of $52.54.

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.