Louisbourg Investments Inc. Acquires 48,100 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Louisbourg Investments Inc. lifted its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3,312.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,552 shares of the financial services provider’s stock after acquiring an additional 48,100 shares during the quarter. Louisbourg Investments Inc.’s holdings in Brookfield Asset Management were worth $2,686,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Ritholtz Wealth Management purchased a new position in Brookfield Asset Management during the 3rd quarter valued at $232,000. Procyon Advisors LLC increased its position in shares of Brookfield Asset Management by 4.2% during the third quarter. Procyon Advisors LLC now owns 9,063 shares of the financial services provider’s stock valued at $429,000 after buying an additional 366 shares during the period. Creative Planning increased its position in shares of Brookfield Asset Management by 3.4% during the third quarter. Creative Planning now owns 70,670 shares of the financial services provider’s stock valued at $3,342,000 after buying an additional 2,313 shares during the period. Schubert & Co bought a new position in Brookfield Asset Management in the third quarter worth about $216,000. Finally, Compass Ion Advisors LLC purchased a new stake in Brookfield Asset Management in the third quarter worth about $251,000. Institutional investors own 68.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on BAM. BMO Capital Markets upped 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. The Goldman Sachs Group lifted their price target on Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. TD Securities increased their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company dropped their target price on shares of Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Finally, UBS Group assumed coverage on shares of Brookfield Asset Management in a research report on Monday, December 16th. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $56.58.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock opened at $55.59 on Wednesday. The company has a 50-day simple moving average of $56.45 and a two-hundred day simple moving average of $50.86. The stock has a market capitalization of $24.63 billion, a PE ratio of 49.19, a price-to-earnings-growth ratio of 2.18 and a beta of 1.46. Brookfield Asset Management Ltd. has a 52-week low of $37.29 and a 52-week high of $62.61.

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.