Raymond James & Associates Lowers Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Raymond James & Associates lessened its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 191,164 shares of the financial services provider’s stock after selling 11,485 shares during the quarter. Raymond James & Associates’ holdings in Brookfield Asset Management were worth $9,040,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BAM. Massmutual Trust Co. FSB ADV grew 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 worth $30,000 after buying an additional 385 shares during the last quarter. Continuum Advisory LLC increased its holdings in shares of Brookfield Asset Management by 57.6% during the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 285 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Brookfield Asset Management by 574.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 758 shares during the last quarter. Richardson Financial Services Inc. boosted its stake in Brookfield Asset Management by 368.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 755 shares in the last quarter. Finally, WASHINGTON TRUST Co raised its holdings in Brookfield Asset Management by 151.3% in the second quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock worth $40,000 after buying an additional 640 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Scotiabank decreased their price objective on shares of Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating for the company in a report on Thursday, August 8th. TD Securities boosted their price target on Brookfield Asset Management from $50.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft increased their price objective 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. StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group raised their price target on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the company a “buy” rating in a report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $47.41.

Brookfield Asset Management Price Performance

NYSE:BAM opened at $53.55 on Wednesday. The firm has a market capitalization of $23.76 billion, a price-to-earnings ratio of 49.58, a price-to-earnings-growth ratio of 2.26 and a beta of 1.56. The business has a fifty day moving average price of $46.16 and a 200-day moving average price of $41.90. Brookfield Asset Management Ltd. has a one year low of $28.35 and a one year high of $53.73.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The firm had revenue of $916.00 million for the quarter, compared to analysts’ expectations 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 quarter last year, the firm posted $0.28 EPS. On average, equities research analysts expect that Brookfield Asset Management Ltd. will post 1.43 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a yield of 2.84%. Brookfield Asset Management’s dividend payout ratio is presently 140.74%.

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.