Brookfield Asset Management Ltd. (NYSE:BAM) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc increased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 10.3% in the third quarter, HoldingsChannel.com reports. The firm owned 3,953,496 shares of the financial services provider’s stock after buying an additional 370,383 shares during the quarter. CIBC Asset Management Inc’s holdings in Brookfield Asset Management were worth $188,057,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BAM. Hara Capital LLC purchased a new position in shares of Brookfield Asset Management during the 3rd quarter valued at approximately $27,000. Massmutual Trust Co. FSB ADV lifted its holdings 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 valued at $30,000 after purchasing an additional 385 shares in the last quarter. Continuum Advisory LLC lifted its holdings in Brookfield Asset Management by 57.6% during the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 285 shares in the last quarter. Richardson Financial Services Inc. increased its stake in shares of Brookfield Asset Management by 368.3% during the second 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 in the last quarter. Finally, WASHINGTON TRUST Co raised its position in shares of 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. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $56.07 on Friday. Brookfield Asset Management Ltd. has a one year low of $32.76 and a one year high of $58.53. The firm’s 50 day moving average price is $49.38 and its 200-day moving average price is $43.16. The firm has a market cap of $24.84 billion, a P/E ratio of 49.62, a P/E/G ratio of 2.36 and a beta of 1.42.

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 for the quarter, beating analysts’ consensus estimates 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 business 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 earnings per share. As a group, research analysts predict that Brookfield Asset Management Ltd. will post 1.45 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a $0.38 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a yield of 2.71%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

Analyst Upgrades and Downgrades

BAM has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on Brookfield Asset Management from $48.00 to $51.00 and gave the company an “underweight” rating in a report on Tuesday, November 5th. BMO Capital Markets raised their price objective on Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Keefe, Bruyette & Woods upped their target price on shares of Brookfield Asset Management from $44.00 to $49.00 and gave the stock an “underperform” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Scotiabank upped their price objective on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Brookfield Asset Management currently has an average rating of “Hold” and a consensus target price of $52.54.

Brookfield Asset Management Company 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.