Atomi Financial Group Inc. Makes New $290,000 Investment in Brookfield Asset Management Ltd. (NYSE:BAM)

Atomi Financial Group Inc. bought a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,132 shares of the financial services provider’s stock, valued at approximately $290,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. National Bank of Canada FI boosted its position in Brookfield Asset Management by 15.5% during the 1st quarter. National Bank of Canada FI now owns 801,163 shares of the financial services provider’s stock valued at $31,742,000 after acquiring an additional 107,245 shares in the last quarter. Confluence Investment Management LLC grew its stake in Brookfield Asset Management by 382.6% in the second quarter. Confluence Investment Management LLC now owns 89,891 shares of the financial services provider’s stock worth $3,420,000 after purchasing an additional 71,263 shares during the period. O Shaughnessy Asset Management LLC bought a new position in Brookfield Asset Management in the first quarter worth $3,014,000. Intact Investment Management Inc. purchased a new position in Brookfield Asset Management during the second quarter valued at $4,825,000. Finally, Pitcairn Co. bought a new stake in shares of Brookfield Asset Management during the 1st quarter valued at $525,000. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

NYSE BAM opened at $48.60 on Friday. Brookfield Asset Management Ltd. has a one year low of $28.35 and a one year high of $48.97. The stock has a 50-day moving average of $43.46 and a 200 day moving average of $41.06. The company has a market capitalization of $21.57 billion, a price-to-earnings ratio of 45.00, a PEG ratio of 2.26 and a beta of 1.56.

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

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.52 annualized dividend and a dividend yield of 3.13%. Brookfield Asset Management’s payout ratio is 140.74%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Scotiabank decreased their price target on shares of Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating for the company in a research note on Thursday, August 8th. Wells Fargo & Company lifted their target price on shares of Brookfield Asset Management from $42.00 to $48.00 and gave the company an “underweight” rating in a report on Wednesday. BMO Capital Markets boosted their price target on Brookfield Asset Management from $37.00 to $40.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 11th. StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Finally, TD Securities boosted their target price on Brookfield Asset Management from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Brookfield Asset Management has a consensus rating of “Hold” and a consensus target price of $46.41.

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.