Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 148,002 shares of the financial services provider’s stock after selling 3,590 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Brookfield Asset Management were worth $7,005,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of BAM. Hara Capital LLC purchased a new position in Brookfield Asset Management during the third quarter valued at approximately $27,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Brookfield Asset Management during the 3rd quarter valued at approximately $27,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Brookfield Asset Management by 98.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 385 shares during the period. Continuum Advisory LLC boosted its holdings in Brookfield Asset Management by 57.6% during the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after buying an additional 285 shares in the last quarter. Finally, Richardson Financial Services Inc. grew its position in 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 period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Down 0.2 %

Brookfield Asset Management stock opened at $57.16 on Monday. The company has a fifty day simple moving average of $52.23 and a 200-day simple moving average of $44.60. The firm has a market capitalization of $23.99 billion, a price-to-earnings ratio of 50.58, a PEG ratio of 2.35 and a beta of 1.42. Brookfield Asset Management Ltd. has a 52-week low of $34.80 and a 52-week high of $58.53.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same quarter in the prior year, the company earned $0.35 EPS. On average, research analysts anticipate that Brookfield Asset Management Ltd. will post 1.47 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, November 29th. This represents a $1.52 annualized dividend and a dividend yield of 2.66%. Brookfield Asset Management’s dividend payout ratio is presently 134.51%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods upped their price target on Brookfield Asset Management from $44.00 to $49.00 and gave the stock an “underperform” rating in a report on Tuesday, November 5th. TD Securities raised their price objective on Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Royal Bank of Canada upped their target price on Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company increased their target price on Brookfield Asset Management from $48.00 to $51.00 and gave the company an “underweight” rating in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $53.46.

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.