Farther Finance Advisors LLC Sells 461 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Farther Finance Advisors LLC lessened its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 27.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,220 shares of the financial services provider’s stock after selling 461 shares during the quarter. Farther Finance Advisors LLC’s holdings in Brookfield Asset Management were worth $58,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its position in shares of Brookfield Asset Management by 68.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock worth $260,770,000 after buying an additional 2,788,611 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of Brookfield Asset Management by 19.5% during the 2nd quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock worth $514,867,000 after buying an additional 2,205,040 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Brookfield Asset Management during the 2nd quarter worth $42,160,000. TD Asset Management Inc grew its position in shares of Brookfield Asset Management by 8.5% during the 2nd quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock worth $515,823,000 after buying an additional 1,066,015 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in shares of Brookfield Asset Management by 49.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,779,015 shares of the financial services provider’s stock worth $74,802,000 after buying an additional 591,130 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Down 0.6 %

Brookfield Asset Management stock opened at $56.59 on Thursday. The firm has a market cap of $25.06 billion, a price-to-earnings ratio of 50.08, a price-to-earnings-growth ratio of 2.47 and a beta of 1.42. Brookfield Asset Management Ltd. has a 52 week low of $31.59 and a 52 week high of $58.53. The business’s 50-day moving average price is $49.05 and its 200 day moving average price is $43.06.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. The firm 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 last year, the company earned $0.35 earnings per share. Equities analysts expect that Brookfield Asset Management Ltd. will post 1.45 EPS for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed 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 2.69%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management’s payout ratio is currently 134.51%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BAM shares. StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Wells Fargo & Company upped their price objective on Brookfield Asset Management from $48.00 to $51.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group upped their price objective on Brookfield Asset Management from $47.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Jefferies Financial Group started coverage on Brookfield Asset Management in a research note on Friday, August 2nd. They set a “hold” rating and a $43.00 price objective for the company. Finally, Scotiabank upped their price objective 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. Three equities 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $52.54.

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.