Avior Wealth Management LLC Buys 10,000 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Avior Wealth Management LLC raised its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2,857.1% in the third quarter, HoldingsChannel reports. The fund owned 10,350 shares of the financial services provider’s stock after acquiring an additional 10,000 shares during the period. Avior Wealth Management LLC’s holdings in Brookfield Asset Management were worth $489,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Hara Capital LLC bought a new stake in Brookfield Asset Management in the 3rd quarter valued at $27,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Brookfield Asset Management by 98.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 385 shares in the last quarter. Continuum Advisory LLC increased its position in Brookfield Asset Management by 57.6% during the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 285 shares during the period. Richardson Financial Services Inc. raised 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 in the last quarter. Finally, WASHINGTON TRUST Co boosted its holdings in Brookfield Asset Management by 151.3% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 640 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM opened at $55.71 on Friday. Brookfield Asset Management Ltd. has a 52-week low of $33.13 and a 52-week high of $58.53. The company has a market capitalization of $24.68 billion, a PE ratio of 49.30, a price-to-earnings-growth ratio of 2.29 and a beta of 1.42. The company has a fifty day moving average of $50.93 and a 200-day moving average of $43.83.

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 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 business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the firm earned $0.35 EPS. On average, equities analysts forecast that Brookfield Asset Management Ltd. will post 1.47 EPS for the current fiscal 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 issued a $0.38 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a yield of 2.73%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

Analyst Ratings Changes

Several brokerages recently issued reports on BAM. Jefferies Financial Group initiated coverage on Brookfield Asset Management in a research note on Friday, August 2nd. They issued a “hold” rating and a $43.00 price target for the company. Deutsche Bank Aktiengesellschaft increased their target price on Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, November 11th. 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. TD Securities boosted their target price on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company increased their price target on shares of Brookfield Asset Management from $48.00 to $51.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.