Icon Wealth Advisors LLC Invests $101,000 in Brookfield Asset Management Ltd. (NYSE:BAM)

Icon Wealth Advisors LLC purchased a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,128 shares of the financial services provider’s stock, valued at approximately $101,000.

A number of other large investors also recently bought and sold shares of the business. Northwest & Ethical Investments L.P. lifted its position in shares of Brookfield Asset Management by 1.5% during the third quarter. Northwest & Ethical Investments L.P. now owns 273,162 shares of the financial services provider’s stock worth $12,916,000 after purchasing an additional 4,042 shares during the last quarter. Public Sector Pension Investment Board increased its stake in Brookfield Asset Management by 0.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider’s stock worth $2,201,000 after buying an additional 188 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in Brookfield Asset Management during the 3rd quarter valued at about $27,000. BNP Paribas boosted its position in Brookfield Asset Management by 5.1% in the 3rd quarter. BNP Paribas now owns 50,060 shares of the financial services provider’s stock valued at $2,374,000 after buying an additional 2,428 shares during the period. Finally, Bank of Montreal Can grew its stake in Brookfield Asset Management by 0.5% in the 3rd quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider’s stock worth $435,729,000 after acquiring an additional 43,134 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. lowered their target price on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada raised their price target on Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods upped their price objective on shares of Brookfield Asset Management from $44.00 to $49.00 and gave the stock an “underperform” rating in a research note on Tuesday, November 5th. Finally, Bank of America raised their target price on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $53.46.

Brookfield Asset Management Trading Down 0.2 %

Shares of BAM opened at $57.16 on Monday. The firm has a market cap of $23.99 billion, a PE ratio of 50.58, a P/E/G ratio of 2.35 and a beta of 1.42. Brookfield Asset Management Ltd. has a 12 month low of $34.80 and a 12 month high of $58.53. The stock has a fifty day moving average price of $52.23 and a 200-day moving average price of $44.60.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released 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 last year, the business posted $0.35 earnings per share. As a group, research analysts forecast that Brookfield Asset Management Ltd. will post 1.47 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, November 29th. This represents a $1.52 annualized dividend and a dividend yield of 2.66%. Brookfield Asset Management’s payout ratio is currently 134.51%.

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.