Atria Investments Inc Has $663,000 Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Atria Investments Inc lessened its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 14,028 shares of the financial services provider’s stock after selling 744 shares during the period. Atria Investments Inc’s holdings in Brookfield Asset Management were worth $663,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in Brookfield Asset Management during the 1st quarter worth about $137,000. Russell Investments Group Ltd. boosted its stake in Brookfield Asset Management by 2.7% during the first quarter. Russell Investments Group Ltd. now owns 140,125 shares of the financial services provider’s stock worth $5,892,000 after acquiring an additional 3,692 shares in the last quarter. Kingsview Wealth Management LLC bought a new position in shares of Brookfield Asset Management in the first quarter valued at $250,000. Blair William & Co. IL lifted its position in shares of Brookfield Asset Management by 28.6% during the first quarter. Blair William & Co. IL now owns 22,824 shares of the financial services provider’s stock valued at $959,000 after purchasing an additional 5,076 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in Brookfield Asset Management during the first quarter worth about $340,000. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock opened at $55.67 on Wednesday. The stock has a market capitalization of $24.66 billion, a PE ratio of 49.27, a price-to-earnings-growth ratio of 2.33 and a beta of 1.42. Brookfield Asset Management Ltd. has a 12 month low of $33.06 and a 12 month high of $58.53. The business has a 50 day simple moving average of $50.50 and a 200-day simple moving average of $43.66.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data 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 analysts’ expectations 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 business earned $0.35 earnings per share. On average, equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.45 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management’s payout ratio is 134.51%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. TD Securities boosted their price objective on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods upped their target price on shares of Brookfield Asset Management from $44.00 to $49.00 and gave the company an “underperform” rating in a research note on Tuesday, November 5th. Jefferies Financial Group initiated coverage on shares of Brookfield Asset Management in a report on Friday, August 2nd. They set a “hold” rating and a $43.00 price target on the stock. The Goldman Sachs Group upped their price target on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Scotiabank raised their price target on Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a research report on Tuesday, November 5th. 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 stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.