23,838 Shares of Brookfield Asset Management Ltd. $BAM Bought by NBT Bank N.A.

NBT Bank N.A. bought a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the third quarter, Holdings Channel reports. The fund bought 23,838 shares of the financial services provider’s stock, valued at approximately $1,063,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crescent Grove Advisors LLC raised its holdings in Brookfield Asset Management by 6.2% in the 1st quarter. Crescent Grove Advisors LLC now owns 5,100 shares of the financial services provider’s stock valued at $227,000 after acquiring an additional 300 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Brookfield Asset Management by 22.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,674 shares of the financial services provider’s stock valued at $75,000 after buying an additional 304 shares in the last quarter. NewEdge Wealth LLC grew its holdings in Brookfield Asset Management by 6.4% in the 1st quarter. NewEdge Wealth LLC now owns 5,739 shares of the financial services provider’s stock valued at $255,000 after buying an additional 344 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Brookfield Asset Management by 16.0% during the 2nd quarter. Allworth Financial LP now owns 2,958 shares of the financial services provider’s stock worth $133,000 after acquiring an additional 408 shares during the period. Finally, Versant Capital Management Inc raised its holdings in shares of Brookfield Asset Management by 34.8% during the 3rd quarter. Versant Capital Management Inc now owns 1,953 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 504 shares during the period. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Trading Down 1.2%

BAM opened at $47.06 on Friday. The firm has a market cap of $77.10 billion, a P/E ratio of 27.36, a P/E/G ratio of 2.01 and a beta of 1.31. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $47.59 and a 200-day simple moving average of $47.79. Brookfield Asset Management Ltd. has a 52 week low of $42.20 and a 52 week high of $56.37.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Brookfield Asset Management had a net margin of 48.89% and a return on equity of 31.50%. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.47 billion. On average, equities analysts expect that Brookfield Asset Management Ltd. will post 1.77 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st were paid a $0.5025 dividend. This represents a $2.01 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Monday, August 31st. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 116.86%.

Analysts Set New Price Targets

BAM has been the topic of several recent analyst reports. Scotia boosted their target price on shares of Brookfield Asset Management from $57.00 to $59.00 and gave the company a “sector outperform” rating in a report on Thursday, August 6th. Piper Sandler set a $49.00 price target on shares of Brookfield Asset Management and gave the stock a “neutral” rating in a report on Monday. Bank of America reduced their price target on shares of Brookfield Asset Management from $61.00 to $60.00 and set a “neutral” rating on the stock in a research report on Monday, October 5th. Morgan Stanley set a $54.00 price target on shares of Brookfield Asset Management in a research report on Friday, October 16th. Finally, National Bank Financial upped their price objective on Brookfield Asset Management from $69.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.03.

About Brookfield Asset Management

Brookfield Asset Management Ltd. (NYSE: BAM) is a global alternative asset manager that invests in and manages assets on behalf of institutional investors, insurance companies, sovereign wealth funds, financial institutions and private-wealth clients. The company focuses on long-term investments in real assets and businesses, with an emphasis on sectors supported by essential services, economic growth and the transition to a lower-carbon economy.

Its investment activities span renewable power and transition, infrastructure, private equity, real estate and credit.