Cardinal Capital Management Inc. Grows Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Cardinal Capital Management Inc. raised its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 179.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,045 shares of the financial services provider’s stock after acquiring an additional 50,715 shares during the quarter. Cardinal Capital Management Inc.’s holdings in Brookfield Asset Management were worth $3,742,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its stake in Brookfield Asset Management by 68.5% during the second 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 in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of 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 purchasing an additional 2,205,040 shares during the period. Dimensional Fund Advisors LP bought a new position in shares of Brookfield Asset Management during the 2nd quarter worth $42,160,000. TD Asset Management Inc grew its holdings in Brookfield Asset Management by 8.5% during the 2nd quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock worth $515,823,000 after acquiring an additional 1,066,015 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in Brookfield Asset Management by 49.8% during the first quarter. Canada Pension Plan Investment Board now owns 1,779,015 shares of the financial services provider’s stock valued at $74,802,000 after buying an additional 591,130 shares during the period. 68.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upped their target price on Brookfield Asset Management from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. The Goldman Sachs Group increased their price target on Brookfield Asset Management from $47.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Bank of America boosted their target price on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Finally, BMO Capital Markets increased their price target on Brookfield Asset Management from $37.00 to $40.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $46.41.

Brookfield Asset Management Price Performance

Shares of NYSE BAM opened at $48.60 on Friday. Brookfield Asset Management Ltd. has a 1 year low of $28.35 and a 1 year high of $48.97. The company has a market capitalization of $21.57 billion, a P/E ratio of 45.00, a P/E/G ratio of 2.26 and a beta of 1.56. The company has a 50 day simple moving average of $43.46 and a 200-day simple moving average of $41.06.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). The business had revenue of $916.00 million during the quarter, compared to analyst estimates 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 last year, the company earned $0.28 EPS. As a group, research analysts expect that Brookfield Asset Management Ltd. will post 1.43 EPS for the current year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Friday, August 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is 140.74%.

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.