Segall Bryant & Hamill LLC Acquires New Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Segall Bryant & Hamill LLC bought a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 403,371 shares of the financial services provider’s stock, valued at approximately $19,075,000. Segall Bryant & Hamill LLC owned about 0.09% of Brookfield Asset Management at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of Nova Scotia Trust Co. lifted its stake in Brookfield Asset Management by 4.4% in the 1st quarter. Bank of Nova Scotia Trust Co. now owns 6,202 shares of the financial services provider’s stock valued at $261,000 after buying an additional 263 shares in the last quarter. CWM LLC lifted its position in shares of Brookfield Asset Management by 12.2% in the second quarter. CWM LLC now owns 2,448 shares of the financial services provider’s stock valued at $93,000 after acquiring an additional 267 shares in the last quarter. Pathstone Holdings LLC boosted its stake in shares of Brookfield Asset Management by 1.0% during the third quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock valued at $1,379,000 after acquiring an additional 278 shares during the last quarter. Continuum Advisory LLC increased its position in Brookfield Asset Management by 57.6% during the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 285 shares in the last quarter. Finally, Foundations Investment Advisors LLC raised its stake in Brookfield Asset Management by 5.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 6,654 shares of the financial services provider’s stock valued at $315,000 after purchasing an additional 315 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

BAM has been the topic of several analyst reports. TD Securities raised their price target on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group lifted their price objective on Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday. Keefe, Bruyette & Woods upped their price target on shares of Brookfield Asset Management from $44.00 to $49.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 5th. BMO Capital Markets increased 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 note on Tuesday, November 5th. Finally, StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Brookfield Asset Management has a consensus rating of “Hold” and an average price target of $53.46.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM opened at $55.00 on Thursday. The company has a market cap of $24.36 billion, a P/E ratio of 48.67, a PEG ratio of 2.33 and a beta of 1.42. The business’s 50-day simple moving average is $50.71 and its 200 day simple moving average is $43.74. Brookfield Asset Management Ltd. has a one year low of $33.06 and a one year high of $58.53.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.19 billion. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. During the same period in the previous year, the company earned $0.35 earnings per share. Analysts predict that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio is currently 134.51%.

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.