Schwartz Investment Counsel Inc. Has $17.10 Million Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Schwartz Investment Counsel Inc. reduced its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 35.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 361,628 shares of the financial services provider’s stock after selling 200,000 shares during the quarter. Schwartz Investment Counsel Inc. owned 0.08% of Brookfield Asset Management worth $17,101,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. TD Asset Management Inc raised its stake in shares of Brookfield Asset Management by 8.5% in the 2nd quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock valued at $515,823,000 after buying an additional 1,066,015 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Brookfield Asset Management by 19.5% in the 2nd quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock valued at $514,867,000 after buying an additional 2,205,040 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Brookfield Asset Management by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 10,760,414 shares of the financial services provider’s stock valued at $452,153,000 after buying an additional 186,765 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Brookfield Asset Management by 68.5% in the 2nd 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 buying an additional 2,788,611 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in shares of Brookfield Asset Management by 8.4% in the 2nd quarter. CIBC Asset Management Inc now owns 3,583,113 shares of the financial services provider’s stock valued at $136,318,000 after buying an additional 278,613 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 subject of a number of recent analyst reports. The Goldman Sachs Group increased their target price on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. CIBC increased their target price on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research report on Friday, July 19th. TD Securities increased their target price on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. dropped their target price on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, BMO Capital Markets increased their target price on shares of Brookfield Asset Management from $37.00 to $40.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Brookfield Asset Management currently has an average rating of “Hold” and a consensus price target of $46.41.

Brookfield Asset Management Trading Up 3.7 %

Shares of NYSE BAM opened at $52.52 on Friday. The firm has a market capitalization of $23.31 billion, a PE ratio of 48.63, a price-to-earnings-growth ratio of 2.26 and a beta of 1.56. Brookfield Asset Management Ltd. has a 1 year low of $28.35 and a 1 year high of $52.63. The firm’s 50-day moving average is $45.17 and its 200-day moving average is $41.55.

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

Brookfield Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 140.74%.

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.