Intact Investment Management Inc. Has $10.96 Million Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Intact Investment Management Inc. raised its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 82.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 231,740 shares of the financial services provider’s stock after purchasing an additional 104,980 shares during the period. Intact Investment Management Inc. owned approximately 0.05% of Brookfield Asset Management worth $10,957,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV grew its stake in Brookfield Asset Management by 98.2% during the second 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 period. Continuum Advisory LLC increased its holdings in Brookfield Asset Management by 57.6% in the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 285 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Brookfield Asset Management by 574.2% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 758 shares during the period. Richardson Financial Services Inc. raised its holdings 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 valued at $37,000 after acquiring an additional 755 shares during the period. Finally, WASHINGTON TRUST Co lifted its holdings 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 in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analyst Ratings Changes

BAM has been the topic of several research analyst reports. StockNews.com cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. TD Securities raised their price target on Brookfield Asset Management from $50.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. CIBC boosted their price objective on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a report on Friday, July 19th. Bank of America raised their target price on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Finally, Wells Fargo & Company boosted their price target 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 research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Brookfield Asset Management presently has an average rating of “Hold” and an average price target of $48.32.

Brookfield Asset Management Stock Down 0.7 %

NYSE BAM opened at $52.82 on Monday. The firm has a market cap of $23.47 billion, a price-to-earnings ratio of 48.35, a PEG ratio of 2.55 and a beta of 1.41. The company has a 50-day simple moving average of $46.92 and a two-hundred day simple moving average of $42.21. Brookfield Asset Management Ltd. has a 12-month low of $30.59 and a 12-month high of $54.20.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly 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 company had revenue of $916.00 million for the quarter, compared to the consensus estimate of $1.16 billion. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. During the same quarter in the previous year, the business earned $0.28 earnings per share. Equities analysts expect that Brookfield Asset Management Ltd. will post 1.43 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 138.18%.

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.