Atria Investments Inc Trims Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Atria Investments Inc lowered its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,028 shares of the financial services provider’s stock after selling 744 shares during the quarter. Atria Investments Inc’s holdings in Brookfield Asset Management were worth $663,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Bridges Investment Management Inc. acquired a new position in Brookfield Asset Management in the 3rd quarter valued at about $373,000. Fiera Capital Corp grew its stake in shares of Brookfield Asset Management by 75.7% in the 3rd quarter. Fiera Capital Corp now owns 69,358 shares of the financial services provider’s stock valued at $3,282,000 after purchasing an additional 29,882 shares during the last quarter. Hara Capital LLC acquired a new position in Brookfield Asset Management during the 3rd quarter worth approximately $27,000. Principal Financial Group Inc. boosted its stake in shares of Brookfield Asset Management by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock worth $419,400,000 after acquiring an additional 24,409 shares in the last quarter. Finally, Radnor Capital Management LLC purchased a new position in shares of Brookfield Asset Management during the 3rd quarter worth approximately $430,000. Institutional investors and hedge funds own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

BAM has been the topic of a number of research analyst reports. Scotiabank raised their price target 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. StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group raised their price objective on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. reduced their price objective on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $53.46.

Brookfield Asset Management Stock Up 0.4 %

NYSE:BAM opened at $55.67 on Wednesday. The firm has a market cap of $24.66 billion, a PE ratio of 49.27, a price-to-earnings-growth ratio of 2.33 and a beta of 1.42. The company’s 50-day moving average price is $50.50 and its two-hundred day moving average price is $43.66. Brookfield Asset Management Ltd. has a 12 month low of $33.06 and a 12 month high of $58.53.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates 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 period in the prior year, the company earned $0.35 EPS. On average, research analysts expect that Brookfield Asset Management Ltd. will post 1.45 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared 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 2.73%. The ex-dividend date is Friday, November 29th. Brookfield Asset Management’s dividend 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.