Horizon Kinetics Asset Management LLC Reduces Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Horizon Kinetics Asset Management LLC reduced its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 11.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 240,580 shares of the financial services provider’s stock after selling 29,712 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Brookfield Asset Management were worth $11,377,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hancock Whitney Corp purchased a new stake in shares of Brookfield Asset Management during the third quarter valued at approximately $252,000. Douglass Winthrop Advisors LLC raised its holdings in Brookfield Asset Management by 3.9% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 2,670,488 shares of the financial services provider’s stock valued at $126,287,000 after buying an additional 99,020 shares during the last quarter. Cerity Partners LLC boosted its position in Brookfield Asset Management by 25.6% during the 3rd quarter. Cerity Partners LLC now owns 25,996 shares of the financial services provider’s stock valued at $1,229,000 after buying an additional 5,298 shares during the period. Icon Wealth Advisors LLC bought a new stake in Brookfield Asset Management in the 3rd quarter worth $118,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Brookfield Asset Management by 5.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 834,929 shares of the financial services provider’s stock valued at $39,516,000 after acquiring an additional 45,670 shares during the period. Institutional investors own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

BAM has been the topic of several recent analyst reports. Wells Fargo & Company raised their target price on Brookfield Asset Management from $48.00 to $51.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 5th. TD Securities boosted their target price on Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Jefferies Financial Group started coverage on Brookfield Asset Management in a research note on Friday, August 2nd. They issued a “hold” rating and a $43.00 price target for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, The Goldman Sachs Group raised their target price on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Brookfield Asset Management has an average rating of “Hold” and an average target price of $53.46.

Brookfield Asset Management Stock Performance

BAM stock opened at $55.47 on Monday. The firm has a 50 day moving average price of $51.14 and a 200-day moving average price of $44.00. Brookfield Asset Management Ltd. has a 52-week low of $33.45 and a 52-week high of $58.53. The firm has a market capitalization of $24.57 billion, a price-to-earnings ratio of 49.09, a PEG ratio of 2.28 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted 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 company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the company earned $0.35 EPS. As a group, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio is presently 134.51%.

Brookfield Asset Management 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.