Continuum Advisory LLC Purchases 329 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Continuum Advisory LLC increased its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 42.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,109 shares of the financial services provider’s stock after acquiring an additional 329 shares during the period. Continuum Advisory LLC’s holdings in Brookfield Asset Management were worth $52,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Hara Capital LLC bought a new stake in shares of Brookfield Asset Management during the 3rd quarter valued at about $27,000. RPg Family Wealth Advisory LLC bought a new stake in Brookfield Asset Management during the third quarter valued at approximately $27,000. Richardson Financial Services Inc. increased its holdings in Brookfield Asset Management by 368.3% during 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 during the last quarter. Legacy Bridge LLC bought a new position in Brookfield Asset Management in the second quarter worth approximately $52,000. Finally, Key Financial Inc purchased a new position in shares of Brookfield Asset Management during the 2nd quarter worth $54,000. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM opened at $57.78 on Friday. The firm has a market cap of $24.25 billion, a price-to-earnings ratio of 51.13, a P/E/G ratio of 2.37 and a beta of 1.41. The firm has a fifty day moving average price of $53.89 and a 200 day moving average price of $45.55. Brookfield Asset Management Ltd. has a fifty-two week low of $35.82 and a fifty-two week high of $59.58.

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 business 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 quarter in the prior year, the firm earned $0.35 EPS. As a group, research analysts predict that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management’s payout ratio is 134.51%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BAM. BMO Capital Markets raised their target price on Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Scotiabank raised their price objective on Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a research note on Tuesday, November 5th. TD Securities boosted their price objective on Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Wells Fargo & Company raised their target price on shares of Brookfield Asset Management from $51.00 to $56.00 and gave the stock an “underweight” rating in a research note on Thursday. Finally, Royal Bank of Canada upped their price target on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $53.88.

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.