RPg Family Wealth Advisory LLC Makes New $27,000 Investment in Brookfield Asset Management Ltd. (NYSE:BAM)

RPg Family Wealth Advisory LLC acquired a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 565 shares of the financial services provider’s stock, valued at approximately $27,000.

A number of other hedge funds have also modified their holdings of BAM. The Manufacturers Life Insurance Company raised its position in Brookfield Asset Management by 68.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock valued at $260,770,000 after purchasing an additional 2,788,611 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Brookfield Asset Management by 19.5% in the second quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock valued at $514,867,000 after buying an additional 2,205,040 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of Brookfield Asset Management during the second quarter worth about $42,160,000. TD Asset Management Inc boosted its stake in shares of Brookfield Asset Management by 8.5% during the second quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock worth $515,823,000 after buying an additional 1,066,015 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Brookfield Asset Management by 66.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock worth $92,896,000 after buying an additional 784,250 shares during the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Trading Down 1.0 %

Shares of BAM opened at $57.26 on Thursday. Brookfield Asset Management Ltd. has a twelve month low of $33.45 and a twelve month high of $58.53. The firm has a market capitalization of $25.36 billion, a P/E ratio of 50.67, a PEG ratio of 2.31 and a beta of 1.42. The firm’s 50-day moving average is $51.84 and its two-hundred day moving average is $44.33.

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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $1.12 billion for 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 quarter in the prior year, the firm posted $0.35 EPS. Analysts predict that Brookfield Asset Management Ltd. will post 1.47 EPS for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a $0.38 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 annualized dividend and a dividend yield of 2.65%. Brookfield Asset Management’s dividend payout ratio is presently 134.51%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price objective on 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 lifted their price objective on shares of Brookfield Asset Management from $44.00 to $49.00 and gave the company an “underperform” rating in a research report on Tuesday, November 5th. BMO Capital Markets upped their price objective 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. StockNews.com raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. Finally, Royal Bank of Canada boosted their price target on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $53.46.

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.