Venturi Wealth Management LLC Acquires 1,830 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Venturi Wealth Management LLC increased its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 45.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,841 shares of the financial services provider’s stock after purchasing an additional 1,830 shares during the period. Venturi Wealth Management LLC’s holdings in Brookfield Asset Management were worth $276,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its holdings in Brookfield Asset Management by 68.5% in the second quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock worth $260,770,000 after purchasing an additional 2,788,611 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of Brookfield Asset Management by 19.5% in the 2nd quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock worth $514,867,000 after buying an additional 2,205,040 shares during the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Brookfield Asset Management during the 2nd quarter worth approximately $42,160,000. TD Asset Management Inc lifted its position in Brookfield Asset Management by 8.5% during the second quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock valued at $515,823,000 after acquiring an additional 1,066,015 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Brookfield Asset Management by 49.8% in the first quarter. Canada Pension Plan Investment Board now owns 1,779,015 shares of the financial services provider’s stock valued at $74,802,000 after acquiring an additional 591,130 shares in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BAM has been the topic of a number of recent analyst reports. StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Scotiabank increased their price target on Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lowered their price target on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. The Goldman Sachs Group upped their price objective on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Wells Fargo & Company lifted their target price on shares of Brookfield Asset Management from $48.00 to $51.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $52.54.

Brookfield Asset Management Price Performance

BAM stock opened at $56.59 on Thursday. The company has a market capitalization of $25.06 billion, a P/E ratio of 50.08, a price-to-earnings-growth ratio of 2.47 and a beta of 1.42. Brookfield Asset Management Ltd. has a 12 month low of $31.59 and a 12 month high of $58.53. The firm’s fifty day simple moving average is $49.05 and its 200-day simple moving average is $43.06.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same period in the previous year, the firm posted $0.35 earnings per share. As a group, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.69%. Brookfield Asset Management’s payout ratio is 134.51%.

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.