43,748 Brookfield Asset Management Ltd. $BAM Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 18.8% during the third quarter, Holdings Channel reports. The fund owned 276,777 shares of the financial services provider’s stock after acquiring an additional 43,748 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Brookfield Asset Management were worth $12,339,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in BAM. Hanson & Doremus Investment Management boosted its stake in Brookfield Asset Management by 19.3% in the 1st quarter. Hanson & Doremus Investment Management now owns 1,548 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 250 shares during the period. Crescent Grove Advisors LLC raised its stake in Brookfield Asset Management by 6.2% during the 1st quarter. Crescent Grove Advisors LLC now owns 5,100 shares of the financial services provider’s stock valued at $227,000 after purchasing an additional 300 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in Brookfield Asset Management by 22.2% during 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 purchasing an additional 304 shares during the period. NewEdge Wealth LLC lifted its holdings in shares of Brookfield Asset Management by 6.4% in the first quarter. NewEdge Wealth LLC now owns 5,739 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 344 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of Brookfield Asset Management by 16.0% in the second quarter. Allworth Financial LP now owns 2,958 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 408 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on BAM. Morgan Stanley set a $54.00 target price on Brookfield Asset Management in a research report on Friday. Deutsche Bank Aktiengesellschaft upped their price target on Brookfield Asset Management from $48.00 to $50.00 and gave the company a “hold” rating in a research report on Thursday, August 6th. Wall Street Zen lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Saturday. Scotia increased their price objective on Brookfield Asset Management from $57.00 to $59.00 and gave the stock a “sector outperform” rating in a research note on Thursday, August 6th. Finally, National Bank Financial raised their price objective on Brookfield Asset Management from $69.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. One investment 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 given a Sell rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management presently has an average rating of “Moderate Buy” and a consensus price target of $57.03.

Brookfield Asset Management Stock Up 1.7%

Brookfield Asset Management stock opened at $45.96 on Wednesday. Brookfield Asset Management Ltd. has a twelve month low of $42.20 and a twelve month high of $56.37. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market cap of $75.29 billion, a PE ratio of 26.72, a P/E/G ratio of 1.86 and a beta of 1.31. The firm’s 50 day moving average price is $48.07 and its two-hundred day moving average price is $47.76.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.47 billion. On average, research analysts predict that Brookfield Asset Management Ltd. will post 1.78 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, August 31st were issued a dividend of $0.5025 per share. This represents a $2.01 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Monday, August 31st. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 116.86%.

Brookfield Asset Management 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.