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

Key Points

• NBT Bank acquired 23,838 Brookfield Asset Management shares during the third quarter, valued at approximately $1.06 million. Institutional investors collectively own 68.41% of the company.
• Brookfield Asset Management shares were trading at $47.06, down 1.2%, with a market capitalization of approximately $77.1 billion. The company recently exceeded quarterly earnings and revenue expectations, reporting $0.44 in EPS and $1.49 billion in revenue.
• The company paid a quarterly dividend of $0.5025, equivalent to a 4.3% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $57.03.

NBT Bank N.A. acquired a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 23,838 shares of the financial services provider's stock, valued at approximately $1,063,000.

Several other large investors have also made changes to their positions in the business. Principal Financial Group Inc. raised its holdings in shares of Brookfield Asset Management by 62.0% during the first quarter. Principal Financial Group Inc. now owns 12,735,547 shares of the financial services provider's stock worth $566,092,000 after purchasing an additional 4,872,090 shares during the last quarter. Madison Asset Management LLC acquired a new position in Brookfield Asset Management during the second quarter valued at $70,433,000. Renaissance Technologies LLC boosted its holdings in Brookfield Asset Management by 283.7% in the first quarter. Renaissance Technologies LLC now owns 1,103,325 shares of the financial services provider's stock valued at $49,043,000 after purchasing an additional 815,800 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Brookfield Asset Management by 15.6% in the first quarter. The Manufacturers Life Insurance Company now owns 5,319,506 shares of the financial services provider's stock valued at $236,308,000 after purchasing an additional 716,892 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Brookfield Asset Management by 11.0% in the first quarter. Bank of America Corp DE now owns 3,448,351 shares of the financial services provider's stock valued at $153,279,000 after purchasing an additional 341,600 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Trading Down 1.2%

Shares of Brookfield Asset Management stock opened at $47.06 on Friday. The firm has a 50-day simple moving average of $47.59 and a two-hundred day simple moving average of $47.79. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. Brookfield Asset Management Ltd. has a fifty-two week low of $42.20 and a fifty-two week high of $56.37. The company has a market cap of $77.10 billion, a P/E ratio of 27.36, a price-to-earnings-growth ratio of 2.01 and a beta of 1.31.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. Brookfield Asset Management had a return on equity of 31.50% and a net margin of 48.89%. The firm had revenue of $1.49 billion for the quarter, compared to analysts' expectations of $1.47 billion. As a group, equities analysts predict that Brookfield Asset Management Ltd. will post 1.77 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

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

Analyst Ratings Changes

BAM has been the subject of a number of recent research reports. Piper Sandler set a $49.00 price objective on Brookfield Asset Management and gave the company a "neutral" rating in a research note on Monday. Weiss Ratings upgraded Brookfield Asset Management from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Wells Fargo & Company began coverage on Brookfield Asset Management in a research note on Friday, October 2nd. They issued an "overweight" rating and a $41.00 target price on the stock. Bank of America dropped their target price on Brookfield Asset Management from $61.00 to $60.00 and set a "neutral" rating on the stock in a report on Monday, October 5th. Finally, Wall Street Zen downgraded Brookfield Asset Management from a "hold" rating to a "sell" rating in a report on Saturday, October 17th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Brookfield Asset Management presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.03.

Brookfield Asset Management Company Profile

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.

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