River Road Asset Management LLC Acquires 34,726 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

River Road Asset Management LLC grew its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 23.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 182,478 shares of the financial services provider’s stock after acquiring an additional 34,726 shares during the quarter. River Road Asset Management LLC’s holdings in Brookfield Asset Management were worth $8,629,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. National Bank of Canada FI raised its holdings in shares of 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 buying an additional 107,245 shares in the last quarter. Confluence Investment Management LLC raised its holdings in shares of Brookfield Asset Management by 382.6% during the 2nd quarter. Confluence Investment Management LLC now owns 89,891 shares of the financial services provider’s stock valued at $3,420,000 after buying an additional 71,263 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new position in shares of Brookfield Asset Management during the 1st quarter valued at about $3,014,000. Intact Investment Management Inc. purchased a new position in shares of Brookfield Asset Management during the 2nd quarter valued at about $4,825,000. Finally, Pitcairn Co. purchased a new position in shares of Brookfield Asset Management during the 1st quarter valued at about $525,000. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Up 1.4 %

Shares of BAM stock opened at $55.56 on Wednesday. Brookfield Asset Management Ltd. has a twelve month low of $30.59 and a twelve month high of $57.36. The stock has a market cap of $24.68 billion, a price-to-earnings ratio of 49.17, a PEG ratio of 2.55 and a beta of 1.42. The business’s fifty day moving average is $47.46 and its 200 day moving average is $42.45.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the firm posted $0.35 earnings per share. Equities research analysts expect that Brookfield Asset Management Ltd. will post 1.43 earnings per share 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 given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 annualized dividend and a dividend yield of 2.74%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BAM. Jefferies Financial Group began 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. StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. BMO Capital Markets lifted their price target on Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a research note on Tuesday. Scotiabank lifted their price target on Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Brookfield Asset Management from $51.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $52.29.

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.