Schubert & Co Invests $216,000 in Brookfield Asset Management Ltd. (NYSE:BAM)

Schubert & Co bought a new position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 4,577 shares of the financial services provider’s stock, valued at approximately $216,000.

Other hedge funds have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV raised its position in Brookfield Asset Management by 98.2% during the second 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 increased its position 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 valued at $30,000 after acquiring an additional 285 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Brookfield Asset Management by 574.2% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 758 shares during the period. Richardson Financial Services Inc. lifted its holdings in shares of 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 acquiring an additional 755 shares during the last quarter. Finally, WASHINGTON TRUST Co boosted its stake in shares of Brookfield Asset Management by 151.3% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 640 shares during the period. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on BAM. The Goldman Sachs Group increased their price objective on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Bank of America increased their price target on Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft raised their price target on Brookfield Asset Management from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. TD Securities upped their price objective on Brookfield Asset Management from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Finally, Wells Fargo & Company lifted their target price on Brookfield Asset Management from $42.00 to $48.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 9th. Two 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $46.41.

Brookfield Asset Management Stock Up 1.0 %

Shares of Brookfield Asset Management stock traded up $0.50 during midday trading on Friday, hitting $51.55. The company had a trading volume of 1,253,007 shares, compared to its average volume of 1,268,973. The company has a fifty day simple moving average of $44.53 and a 200 day simple moving average of $41.35. The stock has a market cap of $22.88 billion, a price-to-earnings ratio of 47.73, a PEG ratio of 2.26 and a beta of 1.56. Brookfield Asset Management Ltd. has a 12-month low of $28.35 and a 12-month high of $51.66.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. The firm had revenue of $916.00 million for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the firm posted $0.28 EPS. As a group, analysts expect that Brookfield Asset Management Ltd. will post 1.43 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Asset Management’s dividend payout ratio is presently 140.74%.

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.