300,608 Shares in Brookfield Asset Management Ltd. (NYSE:BAM) Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC acquired a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the third quarter, Holdings Channel reports. The fund acquired 300,608 shares of the financial services provider’s stock, valued at approximately $14,216,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BAM. Vanguard Group Inc. raised its position in shares of Brookfield Asset Management by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 10,573,649 shares of the financial services provider’s stock valued at $424,743,000 after buying an additional 170,764 shares during the last quarter. Park Avenue Securities LLC grew its stake in Brookfield Asset Management by 41.0% during the 1st quarter. Park Avenue Securities LLC now owns 15,721 shares of the financial services provider’s stock valued at $661,000 after acquiring an additional 4,572 shares in the last quarter. GoalVest Advisory LLC acquired a new stake in Brookfield Asset Management in the 1st quarter valued at about $100,000. DGS Capital Management LLC lifted its stake in Brookfield Asset Management by 16.1% in the 1st quarter. DGS Capital Management LLC now owns 6,381 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 884 shares in the last quarter. Finally, Ervin Investment Management LLC acquired a new position in shares of Brookfield Asset Management during the 1st quarter worth approximately $1,595,000. Institutional investors and hedge funds own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BAM. Deutsche Bank Aktiengesellschaft lifted their price objective on Brookfield Asset Management from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. TD Securities lifted their price target on Brookfield Asset Management from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. StockNews.com lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Wells Fargo & Company lifted their target price 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. Finally, Scotiabank decreased their target price on shares of Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating on the stock in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $46.41.

Brookfield Asset Management Stock Performance

Shares of NYSE BAM traded down $0.75 during trading on Tuesday, reaching $50.28. The stock had a trading volume of 231,892 shares, compared to its average volume of 1,261,351. The company has a market cap of $22.31 billion, a P/E ratio of 47.25, a PEG ratio of 2.26 and a beta of 1.56. Brookfield Asset Management Ltd. has a fifty-two week low of $28.35 and a fifty-two week high of $51.73. The business’s 50-day moving average price is $44.77 and its 200-day moving average price is $41.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. The firm had revenue of $916.00 million during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the firm earned $0.28 earnings per share. Analysts forecast that Brookfield Asset Management Ltd. will post 1.43 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.52 annualized dividend and a dividend yield of 3.02%. Brookfield Asset Management’s dividend payout ratio (DPR) is 140.74%.

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.