Bridges Investment Management Inc. Acquires Shares of 7,879 Brookfield Asset Management Ltd. (NYSE:BAM)

Bridges Investment Management Inc. bought a new position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 7,879 shares of the financial services provider’s stock, valued at approximately $373,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of Nova Scotia Trust Co. grew its stake in Brookfield Asset Management by 4.4% in the 1st quarter. Bank of Nova Scotia Trust Co. now owns 6,202 shares of the financial services provider’s stock valued at $261,000 after buying an additional 263 shares in the last quarter. CWM LLC grew its position in shares of Brookfield Asset Management by 12.2% in the second quarter. CWM LLC now owns 2,448 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 267 shares in the last quarter. Choate Investment Advisors raised its stake in shares of Brookfield Asset Management by 3.3% during the 1st quarter. Choate Investment Advisors now owns 8,900 shares of the financial services provider’s stock valued at $374,000 after purchasing an additional 285 shares during the period. Continuum Advisory LLC lifted its holdings 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 in the last quarter. Finally, Foundations Investment Advisors LLC boosted its stake in Brookfield Asset Management by 5.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 6,654 shares of the financial services provider’s stock worth $315,000 after purchasing an additional 315 shares during the period. Institutional investors own 68.41% of the company’s stock.

Analysts Set New Price Targets

BAM has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on Brookfield Asset Management from $51.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. 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 note on Friday, July 19th. TD Securities raised their price target on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Royal Bank of Canada upped their price target on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, Keefe, Bruyette & Woods lifted their price objective on Brookfield Asset Management from $44.00 to $49.00 and gave the company an “underperform” rating in a research note on Tuesday, November 5th. Three 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, the stock presently has an average rating of “Hold” and a consensus target price of $52.29.

Brookfield Asset Management Price Performance

Shares of BAM opened at $56.39 on Friday. Brookfield Asset Management Ltd. has a 1 year low of $30.68 and a 1 year high of $57.48. The firm has a market cap of $25.05 billion, a P/E ratio of 49.90, a P/E/G ratio of 2.58 and a beta of 1.42. The stock has a 50 day simple moving average of $48.39 and a two-hundred day simple moving average of $42.76.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate 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 posted $0.35 earnings per share. On average, equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.43 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The business 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 $0.38 dividend. 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 2.70%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 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.