Oppenheimer & Co. Inc. Takes $219,000 Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Oppenheimer & Co. Inc. acquired a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,624 shares of the financial services provider’s stock, valued at approximately $219,000.

Other institutional investors also recently modified their holdings of the company. Confluence Investment Management LLC boosted its position 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 last quarter. Intact Investment Management Inc. bought a new stake in Brookfield Asset Management during the 2nd quarter valued at approximately $4,825,000. CWM LLC boosted its position in shares of Brookfield Asset Management by 12.2% during the second quarter. CWM LLC now owns 2,448 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 267 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Brookfield Asset Management by 28.3% during the first quarter. Janus Henderson Group PLC now owns 81,103 shares of the financial services provider’s stock valued at $3,408,000 after purchasing an additional 17,895 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Brookfield Asset Management during the 3rd quarter valued at approximately $4,359,000. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Price Performance

NYSE:BAM opened at $55.45 on Friday. The firm has a market capitalization of $24.56 billion, a PE ratio of 49.07, a price-to-earnings-growth ratio of 2.29 and a beta of 1.42. The business’s fifty day moving average price is $51.14 and its 200 day moving average price is $43.93. 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 for the quarter, topping the consensus estimate of $0.36 by $0.02. The business had revenue of $1.12 billion for 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 last year, the company earned $0.35 EPS. As a group, equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.47 EPS for the current year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a dividend of $0.38 per share. The ex-dividend date is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a yield of 2.74%. Brookfield Asset Management’s payout ratio is currently 134.51%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BAM. Keefe, Bruyette & Woods upped their price objective on Brookfield Asset Management from $44.00 to $49.00 and gave the company an “underperform” rating in a research report on Tuesday, November 5th. Jefferies Financial Group initiated coverage on Brookfield Asset Management in a report on Friday, August 2nd. They set a “hold” rating and a $43.00 price objective on the stock. TD Securities boosted their price objective on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. BMO Capital Markets raised their target price on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. 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, the company has a consensus rating of “Hold” and an average target price of $53.46.

Brookfield Asset Management 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.