JCIC Asset Management Inc. Acquires 2,055 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

JCIC Asset Management Inc. grew its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 83,020 shares of the financial services provider’s stock after acquiring an additional 2,055 shares during the period. Brookfield Asset Management comprises 1.6% of JCIC Asset Management Inc.’s holdings, making the stock its 22nd largest holding. JCIC Asset Management Inc.’s holdings in Brookfield Asset Management were worth $3,923,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of BAM. Massmutual Trust Co. FSB ADV lifted its holdings in 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 worth $30,000 after buying an additional 385 shares during the period. Continuum Advisory LLC raised its position in shares of Brookfield Asset Management by 57.6% during the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 285 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Brookfield Asset Management by 574.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 758 shares during the last quarter. Richardson Financial Services Inc. lifted its stake in shares of Brookfield Asset Management by 368.3% in the second quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 755 shares during the period. Finally, WASHINGTON TRUST Co increased its position 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 valued at $40,000 after purchasing an additional 640 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 0.4 %

NYSE BAM opened at $50.66 on Thursday. The stock has a 50-day moving average of $45.17 and a 200-day moving average of $41.55. Brookfield Asset Management Ltd. has a 1-year low of $28.35 and a 1-year high of $51.73. The firm has a market cap of $22.48 billion, a PE ratio of 46.90, a price-to-earnings-growth ratio of 2.26 and a beta of 1.56.

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

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date was Friday, August 30th. Brookfield Asset Management’s payout ratio is currently 140.74%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BAM shares. TD Securities boosted their price target on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Scotiabank dropped 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. Wells Fargo & Company increased their price target on Brookfield Asset Management from $42.00 to $48.00 and gave the stock an “underweight” rating in a report on Wednesday, October 9th. The Goldman Sachs Group boosted their price objective on Brookfield Asset Management from $47.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, CIBC raised their target price on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research note on Friday, July 19th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $46.41.

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.