Fiduciary Alliance LLC Buys New Holdings in Brookfield Asset Management Ltd. $BAM

Fiduciary Alliance LLC purchased a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 89,078 shares of the financial services provider’s stock, valued at approximately $5,072,000.

A number of other large investors also recently modified their holdings of the company. GoalVest Advisory LLC grew its holdings in shares of Brookfield Asset Management by 9.5% during the 2nd quarter. GoalVest Advisory LLC now owns 2,180 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 190 shares during the period. Kirr Marbach & Co. LLC IN lifted its position in Brookfield Asset Management by 0.7% during the second quarter. Kirr Marbach & Co. LLC IN now owns 35,649 shares of the financial services provider’s stock valued at $1,971,000 after buying an additional 249 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in Brookfield Asset Management by 7.8% during the second quarter. SBI Securities Co. Ltd. now owns 3,454 shares of the financial services provider’s stock worth $191,000 after buying an additional 250 shares during the period. Private Trust Co. NA increased its position in shares of Brookfield Asset Management by 22.5% in the second quarter. Private Trust Co. NA now owns 1,532 shares of the financial services provider’s stock worth $85,000 after acquiring an additional 281 shares in the last quarter. Finally, Natixis raised its stake in shares of Brookfield Asset Management by 0.7% in the 2nd quarter. Natixis now owns 42,684 shares of the financial services provider’s stock valued at $2,360,000 after acquiring an additional 282 shares during the period. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Price Performance

Shares of NYSE BAM opened at $51.66 on Thursday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.05. Brookfield Asset Management Ltd. has a fifty-two week low of $41.78 and a fifty-two week high of $64.10. The business has a 50 day moving average price of $53.43 and a two-hundred day moving average price of $56.67. The firm has a market cap of $84.61 billion, a PE ratio of 32.29, a price-to-earnings-growth ratio of 2.24 and a beta of 1.39.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Friday, November 7th. The financial services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. Brookfield Asset Management had a return on equity of 33.77% and a net margin of 58.25%.The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th will be issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 109.38%.

Wall Street Analysts Forecast Growth

BAM has been the subject of a number of research reports. Scotiabank decreased their price target on shares of Brookfield Asset Management from $67.25 to $65.75 and set a “sector outperform” rating for the company in a research report on Monday, November 10th. UBS Group set a $59.00 target price on Brookfield Asset Management in a research report on Thursday, December 11th. National Bankshares dropped their target price on Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating on the stock in a report on Monday, October 27th. Bank of America cut Brookfield Asset Management from a “buy” rating to a “neutral” rating and set a $68.00 price target for the company. in a report on Thursday, September 4th. Finally, Wall Street Zen raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Brookfield Asset Management currently has an average rating of “Hold” and an average price target of $63.86.

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.