Sanctuary Advisors LLC Reduces Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Sanctuary Advisors LLC lessened its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,155 shares of the financial services provider’s stock after selling 786 shares during the period. Sanctuary Advisors LLC’s holdings in Brookfield Asset Management were worth $953,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hara Capital LLC purchased a new position in shares of Brookfield Asset Management during the third quarter valued at about $27,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Brookfield Asset Management during the 3rd quarter worth approximately $27,000. Richardson Financial Services Inc. lifted its stake in shares of 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 valued at $37,000 after purchasing an additional 755 shares during the period. Legacy Bridge LLC purchased a new stake in Brookfield Asset Management in the second quarter worth $52,000. Finally, Continuum Advisory LLC raised its holdings in Brookfield Asset Management by 42.2% in the third quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 329 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped 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 report on Monday, November 11th. Bank of America raised their target price on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Keefe, Bruyette & Woods raised their price objective on Brookfield Asset Management from $49.00 to $57.00 and gave the company an “underperform” rating in a research report on Friday. UBS Group assumed coverage on Brookfield Asset Management in a research report on Monday, December 16th. They issued a “buy” rating for the company. Finally, Wells Fargo & Company increased their price objective on shares of Brookfield Asset Management from $51.00 to $56.00 and gave the company an “underweight” rating in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Brookfield Asset Management presently has an average rating of “Hold” and an average target price of $54.54.

Brookfield Asset Management Trading Up 0.4 %

NYSE:BAM opened at $54.42 on Monday. The company has a market cap of $24.11 billion, a PE ratio of 48.16, a price-to-earnings-growth ratio of 2.43 and a beta of 1.41. Brookfield Asset Management Ltd. has a 12 month low of $37.19 and a 12 month high of $59.58. The company has a 50 day simple moving average of $55.11 and a two-hundred day simple moving average of $46.38.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate 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 company earned $0.35 earnings per share. Research analysts forecast that Brookfield Asset Management Ltd. will post 1.47 earnings per share 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 issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management’s payout ratio is 134.51%.

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.