565 Shares in Brookfield Asset Management Ltd. (NYSE:BAM) Acquired by RPg Family Wealth Advisory LLC

RPg Family Wealth Advisory LLC bought a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 565 shares of the financial services provider’s stock, valued at approximately $27,000.

Several other hedge funds also recently bought and sold shares of the stock. Confluence Investment Management LLC boosted its position in Brookfield Asset Management by 382.6% during the second quarter. Confluence Investment Management LLC now owns 89,891 shares of the financial services provider’s stock worth $3,420,000 after acquiring an additional 71,263 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in shares of Brookfield Asset Management by 2,857.1% during the third quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock worth $489,000 after purchasing an additional 10,000 shares during the last quarter. Intact Investment Management Inc. purchased a new stake in shares of Brookfield Asset Management in the second quarter valued at $4,825,000. CIBC Asset Management Inc grew its position in shares of Brookfield Asset Management by 10.3% in the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock valued at $188,057,000 after purchasing an additional 370,383 shares during the period. Finally, LGT Capital Partners LTD. increased its stake in Brookfield Asset Management by 11.5% in the third quarter. LGT Capital Partners LTD. now owns 534,000 shares of the financial services provider’s stock valued at $25,273,000 after purchasing an additional 55,000 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BAM shares. TD Securities boosted their price target on Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group boosted their price objective on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Keefe, Bruyette & Woods raised their target price on shares of Brookfield Asset Management from $44.00 to $49.00 and gave the company an “underperform” rating in a research note on Tuesday, November 5th. Jefferies Financial Group began coverage on shares of Brookfield Asset Management in a research report on Friday, August 2nd. They set a “hold” rating and a $43.00 price target for the company. Finally, JPMorgan Chase & Co. cut their price objective on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $53.46.

Brookfield Asset Management Price Performance

Shares of Brookfield Asset Management stock opened at $57.26 on Thursday. Brookfield Asset Management Ltd. has a 1-year low of $33.45 and a 1-year high of $58.53. The business has a 50-day moving average of $51.84 and a 200-day moving average of $44.33. The company has a market capitalization of $25.36 billion, a PE ratio of 50.67, a P/E/G ratio of 2.31 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 firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the firm earned $0.35 EPS. On average, equities analysts expect that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 2.65%. Brookfield Asset Management’s dividend payout ratio is presently 134.51%.

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.