BNP Paribas Has $2.37 Million Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

BNP Paribas boosted its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,060 shares of the financial services provider’s stock after purchasing an additional 2,428 shares during the period. BNP Paribas’ holdings in Brookfield Asset Management were worth $2,374,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of BAM. TD Asset Management Inc boosted its holdings in shares of Brookfield Asset Management by 8.5% in the 2nd quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock valued at $515,823,000 after buying an additional 1,066,015 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Brookfield Asset Management by 19.5% in the second quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock valued at $514,867,000 after acquiring an additional 2,205,040 shares during the last quarter. Bank of Montreal Can grew its position in shares of Brookfield Asset Management by 0.5% in the 3rd quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider’s stock valued at $435,729,000 after acquiring an additional 43,134 shares during the period. Principal Financial Group Inc. increased its stake in shares of Brookfield Asset Management by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock worth $419,400,000 after purchasing an additional 24,409 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Brookfield Asset Management by 68.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock valued at $260,770,000 after purchasing an additional 2,788,611 shares during the period. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Stock Up 3.0 %

Shares of Brookfield Asset Management stock opened at $57.81 on Wednesday. The stock has a market capitalization of $25.61 billion, a price-to-earnings ratio of 51.16, a price-to-earnings-growth ratio of 2.31 and a beta of 1.42. Brookfield Asset Management Ltd. has a twelve month low of $33.45 and a twelve month high of $58.53. The company has a 50-day simple moving average of $51.61 and a two-hundred day simple moving average of $44.24.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results 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. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate 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 in the previous year, the business earned $0.35 earnings per share. On average, sell-side analysts anticipate 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 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. This represents a $1.52 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 134.51%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on BAM shares. TD Securities boosted their price target on Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. BMO Capital Markets lifted their target price on Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. StockNews.com upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Thursday, November 21st. Bank of America lifted their price objective on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Brookfield Asset Management from $44.00 to $49.00 and gave the company an “underperform” rating in a research report on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $53.46.

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.