Brookfield Asset Management Ltd. (NYSE:BAM) Stake Increased by Castle Rock Wealth Management LLC

Castle Rock Wealth Management LLC lifted its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,077 shares of the financial services provider’s stock after buying an additional 471 shares during the period. Castle Rock Wealth Management LLC’s holdings in Brookfield Asset Management were worth $1,429,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of Nova Scotia Trust Co. boosted its position in Brookfield Asset Management by 4.4% during the 1st quarter. Bank of Nova Scotia Trust Co. now owns 6,202 shares of the financial services provider’s stock worth $261,000 after acquiring an additional 263 shares during the period. CWM LLC grew its position in Brookfield Asset Management by 12.2% during the second quarter. CWM LLC now owns 2,448 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 267 shares in the last quarter. Choate Investment Advisors increased its stake in Brookfield Asset Management by 3.3% in the 1st quarter. Choate Investment Advisors now owns 8,900 shares of the financial services provider’s stock valued at $374,000 after buying an additional 285 shares during the period. Continuum Advisory LLC increased its stake in Brookfield Asset Management by 57.6% in the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after buying an additional 285 shares during the period. Finally, Adalta Capital Management LLC increased its stake in Brookfield Asset Management by 0.8% in the 1st quarter. Adalta Capital Management LLC now owns 43,494 shares of the financial services provider’s stock valued at $1,828,000 after buying an additional 366 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM traded up $1.07 during midday trading on Friday, hitting $48.89. The company’s stock had a trading volume of 144,768 shares, compared to its average volume of 1,270,151. The stock’s 50 day simple moving average is $43.31 and its 200 day simple moving average is $41.01. The stock has a market capitalization of $21.70 billion, a price-to-earnings ratio of 43.49, a PEG ratio of 2.26 and a beta of 1.56. Brookfield Asset Management Ltd. has a fifty-two week low of $28.35 and a fifty-two week high of $48.97.

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

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Asset Management’s payout ratio is currently 138.18%.

Analysts Set New Price Targets

Several equities analysts have recently commented on BAM shares. Wells Fargo & Company boosted their price target on shares of Brookfield Asset Management from $42.00 to $48.00 and gave the company an “underweight” rating in a report on Wednesday. TD Securities raised their price target on Brookfield Asset Management from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Bank of America raised their price objective on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. CIBC boosted their target price on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research report on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Three equities 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, Brookfield Asset Management presently has an average rating of “Hold” and an average price target of $45.13.

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.