Horizon Kinetics Asset Management LLC Decreases Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Horizon Kinetics Asset Management LLC cut its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 11.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 240,580 shares of the financial services provider’s stock after selling 29,712 shares during the quarter. Horizon Kinetics Asset Management LLC owned about 0.05% of Brookfield Asset Management worth $11,377,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Hara Capital LLC purchased a new stake in shares of Brookfield Asset Management during the 3rd quarter valued at approximately $27,000. Massmutual Trust Co. FSB ADV raised its stake in shares of Brookfield Asset Management by 98.2% during the 2nd 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 lifted its holdings in Brookfield Asset Management by 57.6% during the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 285 shares in the last quarter. Richardson Financial Services Inc. boosted its stake in 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 purchasing an additional 755 shares during the period. Finally, WASHINGTON TRUST Co grew its holdings in 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 valued at $40,000 after buying an additional 640 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Trading Down 0.2 %

BAM opened at $55.47 on Monday. The stock has a market capitalization of $24.57 billion, a P/E ratio of 49.09, a PEG ratio of 2.28 and a beta of 1.42. The stock has a 50-day moving average price of $51.14 and a 200-day moving average price of $44.00. Brookfield Asset Management Ltd. has a 12-month low of $33.45 and a 12-month high of $58.53.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates 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 earned $0.35 earnings per share. On average, equities research 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 announced 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. This represents a $1.52 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management’s payout ratio is presently 134.51%.

Analyst Upgrades and Downgrades

BAM has been the topic of a number of recent analyst reports. Jefferies Financial Group assumed coverage on shares of Brookfield Asset Management in a report on Friday, August 2nd. They issued a “hold” rating and a $43.00 price target on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. The Goldman Sachs Group boosted their price target on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. decreased their price target on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, Keefe, Bruyette & Woods lifted their price objective on Brookfield Asset Management from $44.00 to $49.00 and gave the company an “underperform” rating in a research note on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $53.46.

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.