IHT Wealth Management LLC Buys Shares of 5,355 Brookfield Asset Management Ltd. (NYSE:BAM)

IHT Wealth Management LLC purchased a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,355 shares of the financial services provider’s stock, valued at approximately $256,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. TD Asset Management Inc raised its stake in Brookfield Asset Management by 8.5% during the second quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock worth $515,823,000 after purchasing an additional 1,066,015 shares during the period. Mackenzie Financial Corp increased 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 buying an additional 2,205,040 shares during the last quarter. Bank of Montreal Can increased 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 buying an additional 43,134 shares during the last quarter. Principal Financial Group Inc. raised its position 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 valued at $419,400,000 after buying an additional 24,409 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Brookfield Asset Management by 68.5% in the second quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock valued at $260,770,000 after acquiring an additional 2,788,611 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BAM. Deutsche Bank Aktiengesellschaft raised their target price on Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. BMO Capital Markets boosted their price objective on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. TD Securities increased their target price on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. 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 note on Tuesday, November 19th. Finally, Royal Bank of Canada increased their price objective on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Brookfield Asset Management currently has an average rating of “Hold” and an average target price of $53.46.

Brookfield Asset Management Stock Down 0.3 %

NYSE:BAM opened at $57.25 on Wednesday. Brookfield Asset Management Ltd. has a 52 week low of $35.65 and a 52 week high of $58.53. The company has a fifty day simple moving average of $53.47 and a two-hundred day simple moving average of $45.34. The company has a market cap of $24.02 billion, a price-to-earnings ratio of 50.66, a price-to-earnings-growth ratio of 2.37 and a beta of 1.41.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the firm posted $0.35 EPS. On average, analysts expect that Brookfield Asset Management Ltd. will post 1.47 EPS for the current year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio 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.