7,046 Shares in Brookfield Asset Management Ltd. (NYSE:BAM) Bought by Kovack Advisors Inc.

Kovack Advisors Inc. acquired 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 Securities and Exchange Commission (SEC). The fund acquired 7,046 shares of the financial services provider’s stock, valued at approximately $333,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Hara Capital LLC purchased a new stake in shares of Brookfield Asset Management in the third quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV lifted its position in shares of Brookfield Asset Management by 98.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 385 shares during the last quarter. Continuum Advisory LLC lifted 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 purchasing an additional 285 shares during the last quarter. Richardson Financial Services Inc. boosted its stake in shares of Brookfield Asset Management by 368.3% during the second quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 755 shares during the period. Finally, WASHINGTON TRUST Co grew its holdings in shares of Brookfield Asset Management by 151.3% in the second quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 640 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

BAM stock opened at $55.76 on Friday. The firm has a market capitalization of $24.70 billion, a price-to-earnings ratio of 49.35, a PEG ratio of 2.36 and a beta of 1.42. The company’s 50 day moving average price is $49.67 and its 200 day moving average price is $43.25. Brookfield Asset Management Ltd. has a fifty-two week low of $33.06 and a fifty-two week high of $58.53.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same period last year, the business earned $0.35 EPS. Equities analysts forecast that Brookfield Asset Management Ltd. will post 1.45 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management’s payout ratio is 134.51%.

Analyst Ratings Changes

BAM has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their price objective on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Jefferies Financial Group started coverage on shares of Brookfield Asset Management in a report on Friday, August 2nd. They set a “hold” rating and a $43.00 price objective on the stock. CIBC increased their price target on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a research report on Friday, July 19th. 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 report on Monday, September 30th. Three 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. According to data from MarketBeat.com, Brookfield Asset Management presently has a consensus rating of “Hold” and a consensus target price of $52.54.

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.