Ritholtz Wealth Management Acquires 8,179 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Ritholtz Wealth Management increased its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 166.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 13,079 shares of the financial services provider’s stock after purchasing an additional 8,179 shares during the quarter. Ritholtz Wealth Management’s holdings in Brookfield Asset Management were worth $709,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of BAM. Hara Capital LLC acquired a new position in Brookfield Asset Management during the 3rd quarter worth approximately $27,000. RPg Family Wealth Advisory LLC acquired a new position in Brookfield Asset Management during the 3rd quarter worth approximately $27,000. Versant Capital Management Inc boosted its position in Brookfield Asset Management by 1,606.3% during the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 771 shares during the last quarter. Continuum Advisory LLC boosted its position in Brookfield Asset Management by 42.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 329 shares during the last quarter. Finally, Quent Capital LLC boosted its position in Brookfield Asset Management by 62.1% during the 3rd quarter. Quent Capital LLC now owns 1,135 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 435 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

BAM stock opened at $55.56 on Tuesday. The stock has a market capitalization of $24.62 billion, a price-to-earnings ratio of 49.17, a PEG ratio of 1.75 and a beta of 1.45. The business’s fifty day moving average price is $55.82 and its two-hundred day moving average price is $48.74. Brookfield Asset Management Ltd. has a fifty-two week low of $37.29 and a fifty-two week high of $59.58.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data 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 firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations 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 business earned $0.35 EPS. Research analysts expect that Brookfield Asset Management Ltd. will post 1.45 EPS for the current year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend was Friday, November 29th. Brookfield Asset Management’s payout ratio is 134.51%.

Analyst Ratings Changes

A number of equities analysts have weighed in on BAM shares. StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Thursday, January 9th. Deutsche Bank Aktiengesellschaft increased their price objective on Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company cut their price objective on Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. The Goldman Sachs Group increased their price objective on Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, TD Securities increased their price objective on Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Brookfield Asset Management has a consensus rating of “Hold” and a consensus price target of $54.38.

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.