Hara Capital LLC Invests $27,000 in Brookfield Asset Management Ltd. (NYSE:BAM)

Hara Capital LLC bought a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 564 shares of the financial services provider’s stock, valued at approximately $27,000.

A number of other hedge funds also recently modified their holdings of BAM. SG Americas Securities LLC acquired a new stake in shares of Brookfield Asset Management during the 1st quarter worth about $137,000. Forsta AP Fonden lifted its stake in shares of Brookfield Asset Management by 14.0% during the 1st quarter. Forsta AP Fonden now owns 231,900 shares of the financial services provider’s stock worth $9,751,000 after buying an additional 28,400 shares during the last quarter. New South Capital Management Inc. raised its stake in Brookfield Asset Management by 1.0% in the 1st quarter. New South Capital Management Inc. now owns 99,219 shares of the financial services provider’s stock worth $4,169,000 after purchasing an additional 935 shares in the last quarter. Choate Investment Advisors raised its stake in Brookfield Asset Management by 3.3% in the 1st quarter. Choate Investment Advisors now owns 8,900 shares of the financial services provider’s stock worth $374,000 after purchasing an additional 285 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Brookfield Asset Management in the 1st quarter worth about $53,000. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on BAM. Bank of America lifted their price objective on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. BMO Capital Markets lifted 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 note on Tuesday. Wells Fargo & Company lifted their price objective 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. Royal Bank of Canada lifted their price objective on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Brookfield Asset Management presently has a consensus rating of “Hold” and a consensus target price of $52.29.

Brookfield Asset Management Trading Down 1.9 %

Shares of Brookfield Asset Management stock opened at $55.90 on Friday. The firm has a market capitalization of $24.83 billion, a PE ratio of 49.47, a price-to-earnings-growth ratio of 2.63 and a beta of 1.42. The firm’s 50 day moving average is $47.78 and its 200 day moving average is $42.55. Brookfield Asset Management Ltd. has a 1 year low of $30.60 and a 1 year high of $57.48.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 91.12%. During the same period in the previous year, the firm posted $0.35 EPS. As a group, research analysts anticipate that Brookfield Asset Management Ltd. will post 1.43 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

Brookfield Asset Management Company 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.