QV Investors Inc. Has $26.28 Million Position in Brookfield Asset Management Ltd. (NYSE:BAM)

QV Investors Inc. decreased its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 555,311 shares of the financial services provider’s stock after selling 1,546 shares during the period. Brookfield Asset Management accounts for about 2.3% of QV Investors Inc.’s holdings, making the stock its 14th biggest holding. QV Investors Inc. owned 0.13% of Brookfield Asset Management worth $26,283,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in BAM. Massmutual Trust Co. FSB ADV raised its stake in Brookfield Asset Management by 98.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock worth $30,000 after buying an additional 385 shares during the last quarter. Continuum Advisory LLC raised its position in shares of Brookfield Asset Management by 57.6% in the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 285 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Brookfield Asset Management by 574.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 758 shares during the period. Richardson Financial Services Inc. boosted its position in shares of Brookfield Asset Management by 368.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 755 shares in the last quarter. Finally, WASHINGTON TRUST Co grew its stake in Brookfield Asset Management by 151.3% during the second quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 640 shares during the period. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Stock Performance

Shares of NYSE BAM opened at $48.68 on Wednesday. The firm’s 50-day simple moving average is $43.83 and its 200 day simple moving average is $41.15. The stock has a market cap of $21.60 billion, a price-to-earnings ratio of 45.07, a PEG ratio of 2.26 and a beta of 1.56. Brookfield Asset Management Ltd. has a fifty-two week low of $28.35 and a fifty-two week high of $49.39.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. The company had revenue of $916.00 million during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the business earned $0.28 EPS. On average, sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.43 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were issued a $0.38 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.52 annualized dividend and a dividend yield of 3.12%. Brookfield Asset Management’s dividend payout ratio is currently 140.74%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BAM shares. TD Securities boosted their price target on Brookfield Asset Management from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. The Goldman Sachs Group boosted their target price on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Wells Fargo & Company lifted their price target on shares of Brookfield Asset Management from $42.00 to $48.00 and gave the company an “underweight” rating in a research note on Wednesday, October 9th. Finally, CIBC increased their price objective on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Brookfield Asset Management presently has a consensus rating of “Hold” and a consensus price target of $46.41.

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.