Hara Capital LLC Makes New Investment in Brookfield Asset Management Ltd. (NYSE:BAM)

Hara Capital LLC bought a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 564 shares of the financial services provider’s stock, valued at approximately $27,000.

Other institutional investors have also recently added to or reduced their stakes in the company. National Bank of Canada FI grew its holdings in Brookfield Asset Management by 15.5% during the 1st quarter. National Bank of Canada FI now owns 801,163 shares of the financial services provider’s stock worth $31,742,000 after acquiring an additional 107,245 shares during the last quarter. Confluence Investment Management LLC grew its holdings in Brookfield Asset Management by 382.6% during the 2nd quarter. Confluence Investment Management LLC now owns 89,891 shares of the financial services provider’s stock worth $3,420,000 after acquiring an additional 71,263 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new stake in Brookfield Asset Management during the 1st quarter worth approximately $3,014,000. Intact Investment Management Inc. bought a new stake in Brookfield Asset Management during the 2nd quarter worth approximately $4,825,000. Finally, Pitcairn Co. acquired a new position in shares of Brookfield Asset Management in the 1st quarter worth approximately $525,000. 68.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. BMO Capital Markets boosted their price target 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. Jefferies Financial Group assumed coverage on shares of Brookfield Asset Management in a research report on Friday, August 2nd. They issued a “hold” rating and a $43.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Brookfield Asset Management from $48.00 to $51.00 and gave the stock an “underweight” rating in a research report on Tuesday. Finally, Bank of America boosted 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 report on Thursday, September 12th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $52.29.

Brookfield Asset Management Stock Down 1.9 %

Brookfield Asset Management stock opened at $55.90 on Friday. The company has a market capitalization of $24.83 billion, a PE ratio of 49.47, a PEG ratio of 2.63 and a beta of 1.42. The firm’s fifty day moving average is $47.78 and its 200 day moving average is $42.55. Brookfield Asset Management Ltd. has a 12-month low of $30.60 and a 12-month high of $57.48.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 91.12%. During the same quarter in the previous year, the business posted $0.35 EPS. Sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.43 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a yield of 2.72%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

About Brookfield Asset Management

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.