Gold Investment Management Ltd. Has $1.97 Million Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Gold Investment Management Ltd. lessened its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 15.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,670 shares of the financial services provider’s stock after selling 7,625 shares during the quarter. Gold Investment Management Ltd.’s holdings in Brookfield Asset Management were worth $1,970,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Hara Capital LLC bought a new position in shares of Brookfield Asset Management during the third quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Brookfield Asset Management by 98.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 385 shares in the last quarter. Continuum Advisory LLC boosted its holdings in shares of Brookfield Asset Management by 57.6% during the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 285 shares in the last quarter. Richardson Financial Services Inc. lifted 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 worth $37,000 after buying 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 buying an additional 640 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BAM. StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. TD Securities lifted their price objective on Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. decreased their target price on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Keefe, Bruyette & Woods lifted their price target on Brookfield Asset Management from $44.00 to $49.00 and gave the company an “underperform” rating in a research note on Tuesday. Finally, Royal Bank of Canada lifted their price target on Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday. Three research 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’s stock. According to MarketBeat.com, Brookfield Asset Management presently has a consensus rating of “Hold” and an average target price of $52.29.

Brookfield Asset Management Stock Performance

BAM traded up $0.27 during trading on Friday, reaching $56.19. The stock had a trading volume of 33,430 shares, compared to its average volume of 1,276,797. The stock has a market cap of $24.96 billion, a PE ratio of 49.47, a PEG ratio of 2.63 and a beta of 1.42. Brookfield Asset Management Ltd. has a one year low of $30.68 and a one year high of $57.48. The business has a 50-day moving average of $47.78 and a 200-day moving average of $42.55.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 91.12% and a net margin of 49.69%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the firm earned $0.35 earnings per share. Equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.43 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

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

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.