Ritholtz Wealth Management Has $709,000 Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Ritholtz Wealth Management grew its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 166.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,079 shares of the financial services provider’s stock after purchasing an additional 8,179 shares during the period. Ritholtz Wealth Management’s holdings in Brookfield Asset Management were worth $709,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hara Capital LLC acquired a new stake in shares of Brookfield Asset Management in the 3rd quarter valued at $27,000. RPg Family Wealth Advisory LLC acquired a new position in Brookfield Asset Management during the 3rd quarter worth about $27,000. Versant Capital Management Inc lifted its position in Brookfield Asset Management by 1,606.3% during the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock worth $44,000 after buying an additional 771 shares in the last quarter. Continuum Advisory LLC lifted its position in Brookfield Asset Management by 42.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock worth $52,000 after buying an additional 329 shares in the last quarter. Finally, Quent Capital LLC lifted its position in Brookfield Asset Management by 62.1% during the 3rd quarter. Quent Capital LLC now owns 1,135 shares of the financial services provider’s stock worth $54,000 after buying an additional 435 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

Shares of BAM stock opened at $55.56 on Tuesday. The stock has a market cap of $24.62 billion, a PE ratio of 49.17, a price-to-earnings-growth ratio of 1.75 and a beta of 1.45. The stock has a 50-day moving average of $55.82 and a 200-day moving average of $48.74. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $59.58.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results 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. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the business posted $0.35 EPS. As a group, research analysts anticipate that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were paid a dividend of $0.38 per share. The ex-dividend date was Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a yield of 2.74%. Brookfield Asset Management’s payout ratio is 134.51%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Thursday, January 9th. BMO Capital Markets upped 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 report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their price target 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 dropped their price objective on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a report on Monday, January 13th. Finally, The Goldman Sachs Group boosted their price objective on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $54.38.

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.