BNP Paribas Has $2.37 Million Position in Brookfield Asset Management Ltd. (NYSE:BAM)

BNP Paribas lifted its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.1% in the third quarter, HoldingsChannel.com reports. The fund owned 50,060 shares of the financial services provider’s stock after buying an additional 2,428 shares during the period. BNP Paribas’ holdings in Brookfield Asset Management were worth $2,374,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Hara Capital LLC acquired a new position in Brookfield Asset Management during the third quarter valued at approximately $27,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Brookfield Asset Management by 98.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock worth $30,000 after buying an additional 385 shares in the last quarter. Continuum Advisory LLC lifted its position in shares of Brookfield Asset Management by 57.6% during the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after buying an additional 285 shares during the last quarter. Richardson Financial Services Inc. boosted its stake in Brookfield Asset Management by 368.3% in the second quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock valued at $37,000 after buying an additional 755 shares in the last quarter. Finally, WASHINGTON TRUST Co grew its position in Brookfield Asset Management by 151.3% in the second quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 640 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BAM. Jefferies Financial Group began coverage on shares of Brookfield Asset Management in a report on Friday, August 2nd. They issued a “hold” rating and a $43.00 target price for the company. Scotiabank increased their price objective on shares of 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. Royal Bank of Canada boosted their target price 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, November 5th. BMO Capital Markets increased their price target on Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Finally, StockNews.com raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $53.46.

Brookfield Asset Management Price Performance

Shares of BAM opened at $57.81 on Wednesday. The stock has a 50-day moving average of $51.61 and a 200-day moving average of $44.24. Brookfield Asset Management Ltd. has a one year low of $33.45 and a one year high of $58.53. The company has a market cap of $25.61 billion, a PE ratio of 51.16, a P/E/G ratio of 2.31 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. The firm had revenue of $1.12 billion during 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 previous year, the company posted $0.35 earnings per share. Analysts expect that Brookfield Asset Management Ltd. will post 1.47 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Friday, November 29th. Brookfield Asset Management’s payout ratio is presently 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.