Fiera Capital Corp boosted its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 75.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,358 shares of the financial services provider's stock after buying an additional 29,882 shares during the period. Fiera Capital Corp's holdings in Brookfield Asset Management were worth $3,282,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in shares of Brookfield Asset Management in the 1st quarter worth about $137,000. Forsta AP Fonden raised its holdings in Brookfield Asset Management by 14.0% in the first quarter. Forsta AP Fonden now owns 231,900 shares of the financial services provider's stock worth $9,751,000 after buying an additional 28,400 shares during the last quarter. Choate Investment Advisors lifted its stake in shares of Brookfield Asset Management by 3.3% in the first quarter. Choate Investment Advisors now owns 8,900 shares of the financial services provider's stock worth $374,000 after buying an additional 285 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Brookfield Asset Management during the first quarter valued at approximately $53,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of Brookfield Asset Management by 2.7% during the first quarter. Russell Investments Group Ltd. now owns 140,125 shares of the financial services provider's stock valued at $5,892,000 after buying an additional 3,692 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.
Shares of NYSE BAM opened at $56.39 on Friday. Brookfield Asset Management Ltd. has a 12-month low of $30.68 and a 12-month high of $57.48. The firm has a market capitalization of $25.05 billion, a price-to-earnings ratio of 49.90, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. The firm has a 50 day moving average of $48.39 and a 200 day moving average of $42.76.
Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the firm posted $0.35 EPS. Sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.43 EPS for the current year.
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 given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Friday, November 29th. Brookfield Asset Management's payout ratio is 134.51%.
BAM has been the topic of several analyst reports. Bank of America upped their price objective on Brookfield Asset Management from $41.00 to $45.00 and gave the company a "neutral" rating in a research report on Thursday, September 12th. Scotiabank boosted their price target on Brookfield Asset Management from $55.50 to $59.50 and gave the stock a "sector outperform" rating in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods lifted their price objective on Brookfield Asset Management from $44.00 to $49.00 and gave the stock an "underperform" rating in a report on Tuesday, November 5th. Royal Bank of Canada boosted their target price on Brookfield Asset Management from $55.00 to $68.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th. Finally, The Goldman Sachs Group lifted their price target on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Brookfield Asset Management presently has a consensus rating of "Hold" and a consensus target price of $52.29.
Read Our Latest Analysis on 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.
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