4,414 Shares in Brookfield Asset Management Ltd. (NYSE:BAM) Bought by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB acquired a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the third quarter, Holdings Channel.com reports. The firm acquired 4,414 shares of the financial services provider’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hara Capital LLC bought a new position in Brookfield Asset Management during the 3rd quarter valued at about $27,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Brookfield Asset Management during the third quarter valued at approximately $27,000. Richardson Financial Services Inc. grew 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 buying an additional 755 shares during the last quarter. Legacy Bridge LLC purchased a new stake in shares of Brookfield Asset Management in the second quarter worth approximately $52,000. Finally, Continuum Advisory LLC lifted its stake in shares of Brookfield Asset Management by 42.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 329 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

Shares of NYSE BAM opened at $53.80 on Thursday. Brookfield Asset Management Ltd. has a 1-year low of $37.19 and a 1-year high of $59.58. The business has a fifty day moving average price of $54.87 and a 200 day moving average price of $46.17. The stock has a market capitalization of $22.58 billion, a P/E ratio of 47.61, a price-to-earnings-growth ratio of 2.43 and a beta of 1.41.

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 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the firm posted $0.35 earnings per share. As a group, equities research 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio is currently 134.51%.

Analyst Upgrades and Downgrades

BAM has been the topic of a number of recent analyst reports. Scotiabank increased their target price on Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a research note on Tuesday, November 5th. Bank of America raised their price target on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. UBS Group initiated coverage on shares of Brookfield Asset Management in a report on Monday. They set a “buy” rating for the company. StockNews.com upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Thursday, November 21st. Finally, BMO Capital Markets raised their target price on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $53.88.

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.